BoE: High-frequency traders raise risks of liquidity event

Bank of England

The foreign exchange market needs to address the increasing role of high-frequency traders as market-makers to insure against a liquidity event, says Michael Cross, head of the foreign exchange division at the Bank of England (BoE).

Speaking at the FX Week Europe congress in London last Tuesday (November 15), Cross said officials at the BoE have expressed concerns about the possible emergence of a liquidity mirage in FX.

"The rise of market-makers outside of banks has certainly increased the

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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