Zöllner: Asset managers are biggest non-bank FX traders
Interdealer volumes slide as small banks and buy-side firms push growth
Professional asset managers were the most significant non-bank market participants behind the surge in foreign exchange volumes in the three years to 2013, pushing interdealer turnover to less than 40% of total volumes, according to an official at the Bank for International Settlements (BIS).
The volume share of non-dealer financial counterparties rose from $1.9 trillion per day in 2010 to $2.8 trillion per day last year, an increase of 48%, which accounted for around two thirds of the rise in
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