Taking HFT to task
When New York-based broker FXCM acquired London-based proprietary trading group Lucid Markets in June, the firms’ regulatory filings lifted the lid on Lucid’s market presence, with an average daily trading volume of $35 billion and a total volume of $13.4 trillion for 2011.
Taken in the context of the $100 billion average daily turnover on multi-dealer trading platform EBS, and a total annual market turnover of around $208 trillion according to the Euromoney 2012 FX Poll, Lucid’s disclosure
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