A new era for global FX

Neill Penney, co-head of trading at Thomson Reuters, says innovation rather than regulation can finally be the driving force in FX markets

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Neill Penney: the whole FX industry is now far more informed on what constitutes accepted market behaviour

From the financial crisis to the eurozone crisis and the benchmark-fixing scandal to the FX Global Code, this has been a decade of unprecedented change in foreign exchange. Yet, for the first time in years, the industry has finally reached a point where the bulk of regulatory implementation is complete, freeing up market participants to concentrate on innovation and business growth.

While innovation has not always been the priority in recent years, there are exciting opportunities for foreign

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