All the signs are that foreign exchange (FX) market participants, ranging from corporates to asset managers and central banks, are going to be using more sophisticated FX execution techniques, coupled with detailed transaction cost analysis (TCA), in the coming 12 months, as those who have lagged behind catch up with their peer groups. Although regulatory initiatives have so far largely not been directed at spot FX trading, there is a general move towards more transparency right across the financial services sector.
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