Transparency drives FX prop trading changes

"Prop FX is now more than just a couple of traders sitting at screens and taking risk," said one global FX head at a bank in London. "Markets are more transparent so you’ve got to be smarter now to make money."

Another head of trading at a large European bank in London said: "The traditional skills of going long/short just don’t apply any more. The market has slowed down, so prop traders have to look elsewhere for revenues."

The primary change is that prop FX traders are now entering more ma

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