Spot FX shies away from regulatory yoke
As Europe weighs Aussie-style rules for spot trading, some see benefits – but many fear the burden
The $2 trillion-a-day foreign exchange spot market underpins a huge array of basic economic activity, from going on holiday, to cross-border trade and investment. This vast market has also given rise to more than $10 billion in fines for banks that had rigged it against their customers – and it has largely escaped direct oversight.
In Europe, that may be about to change. Regulators in the
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