Grand redesign
Non-bank market-makers are increasingly being viewed as serious players as they set about building customer franchises amid a wide-scale bank pull-back
The structure of foreign exchange markets has changed more over the last year than in the past five, say senior market participants, pointing to a huge shift in the dynamics of liquidity provision and the emergence of non-bank firms as serious market-makers.
While an important part of the market for some years, non-bank market-makers are increasingly looking to build direct relationships with clients, as well as constructing a customer franchise by hiring sales people and connecting to clients
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