Corporates resist lure of central limit order books
Pricing and regulation stymies shift
Corporate FX users have yet to buy into the central limit order books (Clobs) offered by many e-FX trading platforms, as a lack of trading flexibility, higher prices and regulation conspire to keep treasurers sticking to the traditional request-for-quote (RFQ) model.
"Buy-side involvement with order books, though growing, is still relatively small, and it has definitely yet to trickle down to corporates," says Peter Best, chief operating officer of the Icap Sef in London.
The tighter spreads and
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