Harpal S. Sandhu CEO, Integral Development Corporation
Harpal S. Sandhu CEO, Integral Development Corporation

Harpal Sandhu discusses: Heterogeneity in the FX Markets: “One size fits all” doesn’t fit anymore.

First Published: e-Forex Magazine 24 / Viewpoint / July, 2006

Introduction – Consolidation and Fragmentation of Markets2006 continues to provide dramatic evidence of the rapid transformation that is sweeping the vast and growing FX asset class that now exceeds $2 trillion in daily volume. Significant investments are being made on the part of banks, brokerages, exchanges and vendors -- individually and in joint ventures -- to automate, systematize and consolidate what has historically been a manual, fragmented and decentralized collection of trading venues. Combine this with the shifting ownership of the major FX trading exchanges, and one needs a scorecard to keep track of the players, their strategies and target markets.While at first glance, outside observers of the FX marketplace may be surprised at the pace of this change, we believe that what we have been seeing over the past several months is the natural progression and evolution of the FX markets. In particular, this inevitable nature of markets to consolidate and fragment is a constant and has a...continued

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