Fed’s Powell weighs factors behind market-making evolution
Governor notes regulation is a contributing factor but not a dominant one
Regulation is only one of many factors behind the evolution in market-making over the past twenty years, according to Federal Reserve governor Jerome Powell, who highlighted the importance of changes in technology and participant behaviour in a speech yesterday (August 3).
Addressing The Brookings Institution in Washington, DC, Powell noted technological change has allowed different types of trading firms to act as market-makers across equity, foreign exchange and Treasury markets.
This has
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