Market Diversity Suffers In Frankfurt As Banks Centralize Trading Operations
BANKS
The past few years have seen a drop in diversity in the Frankfurt market as business has concentrated in the larger German banks and foreign banks have centralized many of their European FX operations in London, according to executives in Frankfurt.
"Unfortunately, we have seen a lot of banks reducing their FX operations in Frankfurt and some foreign banks have closed down completely," says Udo Gerlach, head of FX trading for Deutsche Bank in Frankfurt. "More and more are focusing on sales in
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