Banks and trading firms fight over $7 trillion over currencies

The main players have tightened their grip on the largest market in the world, that of currencies (between 6,000 and 7,000 billion dollars traded per day last year). In 2021, the top five institutions, banks and trading firms, captured 44% of global volumes and, for the top ten, two thirds, according to the annual ranking established by Euromoney.

In one year, the market share of the Top 5 has increased by 5 points. In a foreign exchange market where margins and commissions have been steadily falling, banks and traders have to deal with very large volumes to achieve profitability. They have to continually invest in expensive technology, which has created a natural barrier for smaller establishments.

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