As well as having to cope with the increase in absolute volumes, banks have also had to try to cope with the emergence of a new breed of market participants that deal in smaller sizes more frequently than their clients did in the past. The scale of the problem was highlighted in a report from market intelligence firm McLagan (Z/Yen) published in December 2008; this stated that the average daily volume of tickets processed by one big FX player had increased from 6,500 in 2001 to an expected 200,000 in 2008.
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