Buy-side firms need to take action to adapt to high levels of fragmentation in foreign exchange markets, as less sophisticated firms may be getting a bad deal, the Bank of England’s Andrew Hauser said today (September 13).

“Extraordinary technical innovation” has led to a proliferation of liquidity sources, trading venues and execution algorithms, the executive director for markets said. For those firms with the skills to navigate this fast-changing landscape, this can offer “enormous choice