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This article was written by Mitch Eglestein, founder and CEO of FDC.
Claiming an aversion to risk, several major banks have all but abandoned a large portion of the FX market. After experiencing heavy losses during the 2008 global financial crisis, major banks grew more cautious of FX prime brokerages, paving the way for a new prime of prime market where smaller financial firms act as prime brokers for companies with $1 million to $20 million in net capital.
Following the 2015 Swiss National Bank removal of the 1.20 peg to the euro, banks experienced heavy losses which ... (read more)