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Currently, FX swaps account for more than half of total daily FX turnover and are the most traded instrument (in excess of $3.8 Currently, FX swaps account for more than half of total daily FX turnover and are the most traded instrument (in excess of $3.8 trillion per day). trillion per day).
Trading and ProprietaryTrading Many large banks are involved in trading activities. This can be trading on behalf of their clients (like when you buy a stock through a bank's brokerage service) or proprietarytrading where banks invest their own money.
From Tourmaline’s perspective, Hantman asserts that the firm has been trading for multiple trillion plus assetmanagers for years, though these are unwilling to be named publicly. Similarly, Crowe confirmed to The TRADE earlier this year that BNY Mellon “absolutely” has large scale clients on its books already.
CME Group acquired EBS in 2018 as part of a larger acquisition of London-based NEX Group, forming a combined company for futures, cash and OTC markets. CME Group also boasts over 90,000 users in FX futures raging from corporates, banks, proprietarytrading companies, retail, assetmanagers and hedge funds.
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