| Today's the day when regulators give the financial world a glimpse of how they reckon traders in the $5.3 trillion-a-day foreign-exchange market should behave. The code of conduct, or rather voluntary guide, is welcome after the $9 billion in fines and settlements linked to market rigging. Yet banks aren't likely to wait until 2017 -- when the full handbook is released -- to decide their future in this business.
The biggest change hitting currency markets is technological: computers are replacing human traders. Not just in the spot market, but also in options and swaps, where electronic trading accounted for an estimated 43 to 57 percent in April, according to Aite Group...............................................Full Article: Source
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