Compressed margins put tight squeeze on FXPB
Foreign exchange prime brokers (FXPBs) have had a lot to contend with in recent months, from the thorny challenges that arose from the requirements of Dodd-Frank external business conduct rules to the ongoing scarcity of credit in financial markets. The business is barely recognisable from what it was upon inception in the 1990s, when a few select providers were able to charge higher fees, but it now attracts a more diverse set of clients than ever before.
In today’s market, where the majority
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