Foreign Exchange Brokers Remain Upbeat Despite Latest Report Of Dwindling Share
BROKERS
Officials at major international foreign exchange brokerage firms remain stubbornly optimistic about the industry's future despite recently released statistics showing a decline in brokers' market share. But the increasing competition over the past few years has clearly hurt: several companies have faced near bankruptcy, reorganization, merger and buyout.
One casualty is the London-based Foreign Exchange Brokers' Association, formally disbanded over the summer. "It didn't serve a function any
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