Agency execution set for strong growth
It could make up half of the market within five years
Agency execution could comprise as much as half of all currency trading in five years' time as the changing role of banks and declining revenues per client drive dealers away from the risk-transfer model.
Since the financial crisis the amount of risk that bank traders have been allowed to take on has diminished significantly, forcing some dealers to adopt a model more closely resembling broker-dealers than primary market-makers. Now, agency desks are being separated internally to offer clients a
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