Two-Month-Old Multiforex Probes Niche As Independent Market Maker In London
NON-BANKS
In a shrinking market, it is perhaps difficult to find a new and profitable part of the business to exploit, but one new firm is attempting to do so. Multiforex Ltd. which calls itself an "independent market maker," began trading in London in August with seven dealers (and is currently hunting for an eighth).
Perched in a little-traveled niche on the edges of the forex market, the firm's aim is to give the price advantages available only to well-established institutions to small, little known
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