MarketFactory sees more fragmentation and a rebound for prime

Activity on Clobs will also increase due to best execution requirements

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James Sinclair: instead of consolidation, fragmentation will continue

For years now, a number of market participants have been forecasting consolidation in the foreign exchange industry, but James Sinclair, executive chairman of financial technology firm MarketFactory, has been consistently expecting fragmentation to continue.

“The market will continue to fragment,” he says. “I have said this every year and turned out to have been right.”

Sinclair acknowledges that while there has been some consolidation among banks, the number and type of market participants

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