This report examines the change in the structure of the global flow FX marketplace as it continues to shift away from the historic prevalence of the dealer-to-client and dealer-to-dealer modalities familiar to investment bank broker-dealers and their buyside firm clients and counterparties. In place of the old structural paradigms, an all-to-all structure emerged completely for the first time in 2019 as the majority of spot FX trade execution volume was done on an automated basis, according to GreySpark analysis of the Bank for International Settlements 2019 Triennial Central Bank Survey of Foreign Exchange and Over-the-Counter Derivatives Markets.
https://greyspark.com/report/trends-in-fx-trading-2020/
