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2016-09-13 — theglobeandmail.com
Algorithmic traders have more than tripled foreign-exchange volumes over the last three years, seizing opportunities as Wall Street banks withdraw from currency dealing, according to Aite Group, a consultant in Boston. The new group of market makers is trading almost $200-billion a day. While that may seem small in the context of the sprawling global currency market, consider this for perspective: Stock trading on all U.S. exchanges totals about $270-billion a day.
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Customers don't have many options. Global banks are stepping back from the $5.1 trillion-a-day currency market, or refocusing on their highest-margin clients, in response to stricter regulation.
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