Citadel expands into FX market-making
Another non-bank player enters FX markets
Citadel Execution Services (CES) has launched a market-making operation in spot foreign exchange markets, where non-bank market-making is increasingly on the rise, promising to match the pricing and service levels provided by Tier I banks.
The company is the latest non-bank market-maker to expand into currency markets, traditionally the domain of large banks. In recent years, as the share of electronic trading has grown in FX, banks have faced increased competition in market-making activities
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