FXMarketspace

[Noodles]

The newswires have just confirmed the 'formal' completion of the previously announced Reuters/CME joint venture for a centrally-cleared FX market. I hope (I so dearly hope) that this will grow to have the creditability and integrity that the CME has in the futures market. Assuming so, I will enjoy (I will so dearly enjoy) the audible pop of the hoardes of chimpanzee, pip-thieving retail fx brokers disappearing up their own alimentary canals.

In a few years we'll all laugh at the concept of 'introducing brokers'

I shouldn't complain - this is better than having a real job.

 

[gc1]

Surely it means IBs (introducing brokers) will thrive. They will be able to offer FX at competitive transaction costs.

IBs usually offer friendlier service and lower commission costs than clearing members. From the customer's perspective as long as all account funds are held by the clearer, segregated in the customer's own name (as they are for present futures broker IBs) there's no reason not to use them.

Of course I am talking about real brokers not bucketshops.

 

[jonnyy40]

Yes,death to pip chisellers everywhere!