Trends in Foreign Exchange Market Structure

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James Sinclair is CEO and co-founder of MarketFactory, a financial technology company that provides feed handlers to the forex market. The company’s FX Aggregator product is a single API that connects to all sources of liquidity in the foreign exchange market, including ECNs, banks, brokers and futures exchanges.

Sinclair has been a foreign exchange market expert for over 25 years, having spent several years as head of research and strategy at EBS, both before and after its 2006 acquisition by ICAP. He also spent 12 years as a vice president of Asia/Pacific at Citibank. Sinclair spoke with John Lothian News Editor at Large Doug Ashburn about several FX market structure trends, including volume as measured by CLS, the relation between volume and volatility, the rise of the electronic options platform, and what sets foreign exchange apart from other asset classes. He closes with an optimistic look at some of the new platforms, suggesting there is a lot more there than meets the eye.