Changing landscape of the FX brokerage world
SNB Thursday brought home the extent of changing FX liquidity
Everyone has a horror story to tell from 'Swiss Thursday' when the Swiss National Bank (SNB) removed its peg to the euro. Some brokers' tales had a happy ending and they lived to fight another day, while others unfortunately ended with the closure of a successful franchise. As the dust settles, the brokerage and institutional community have been left with several uncertainties that are only now starting to come to light.
Liquidity, margin, brokerage costs, clearing and – everyone's favourite –
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