FX: Non-banks make headway among smaller Aussie participants

One of the closest observers of the Australian FX market is Cameron Peter, managing director of Peter Lee Associates, whose annual market survey covers corporates and financial institutions – mainly real money fund managers, insurance companies, non-price maker banks and state and territory treasury corporations – with FX volumes in excess of $100 million.

According to the survey, the leading domestic banks controlled just under two thirds (64%) of the corporate FX market last year, although their market share among financial institutions was lower at 42%.