Clients drive cross-asset trading

Jeremy Hill, head of foreign exchange and money-market operations at Royal Bank of Scotland noted cross-asset business is a fundamental part of the bank's prime-brokerage business. "The FX market has perhaps operated a little bit in isolation, where you have FX and then derivatives, and sometimes the two cross over and sometimes they remain quite separate. I personally don't think that's going to carry on for much longer."

Hill said a group of major banks is working on standardisation of

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