Richard House
Richard House

The Foreign Legion gains new recruits

The Foreign Legion gains new recruits

First Published: e-Forex Magazine 16 / Marketplace / October, 2004

Dramatic growth in both hedge funds and banks’ prime brokerage services show FX trading has finally come of age. Will the boom times continue? Richard House investigates.The genie is out of the bottle as a wider community of investors actively trades foreign exchange as an asset class. A once-clear dividing line between the interbank market and non-banks has become so blurred it is today more practical to speak of a professional trading community. This community includes banks, their clients and infrastructure providers. For banks, there are numerous advantages to providing more direct market access to players beyond the interbank frontier. Yet to ensure orderly and diverse markets, both buyers and sellers must truly understand the wants and needs of these non-traditional players.And as the market grows, relationships between banks and clients are evolving in important ways, signalling growth in such areas as advice and consulting. Banks have much to gain from these changes. Although FX is one of the...continued

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