Bulge Bracket Banks Continue To Dominate FX, But….

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Mark Melin
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The bulge bracket banks are losing ground in foreign exchange market share, with causation for the rare phenomena being a decision made by the banks, not the customers. Nonetheless, the top FX dealers in a 2016 Greenwich Associates study continued to reflect the world’s dominant financial intermediaries – JPMorgan, Citi, UBS and Deutsche Bank finishing in fourth place. Tied for fifth were Bank of America Merrill Lynch, Barclays, HSBC, and Goldman Sachs. In part, causation for the loss of market share is market maker profitability, which can impact liquidity. Bulge bracket bank market maker dominance dips slightly in FX, holds…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.