Buy-side access to hit banks
Cliff Lewis, chief executive of Currenex in New York, said banks are already suffering from a margin squeeze as more players enter FX, but with hedge funds and other buy-side players such as CTAs and arcades now gaining direct trading access to sell-side platforms, the situation will only be exacerbated.
"Hedge funds can trade more effectively than banks. This means margins are being squeezed very tight," said Lewis. This pressure will lead to banks being forced to choose carefully where they
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