Future of agency FX depends on size, says Chapdelaine chief
The agency brokerage model in the foreign exchange market has faced major challenges this year as the implementation of the Dodd-Frank Act's external business conduct rules in May impacted on the activities of FX prime brokers, driving a wedge into the double give-up agreement, which facilitates trading between two buy-side firms via prime brokers and is also widely used by agency brokers.
Six months on, the external business conduct rules remain in place and, while the Commodity Futures Trading
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