Non-bank market-makers to increase role in FX

Virtu Financial's Chris Concannon sees FX market at turning point


Non-bank market participants are set to increase their role in currency markets and market-making, as technology, regulation and shrinking margins are likely to result in some banks retrenching from the most commoditised segments of the business, says Chris Concannon, president and chief operating officer of US-based trading firm Virtu Financial.

Firms such as Virtu already play a significant role in currency markets, but while most market participants agree that the handful of companies that

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