Why Trading in Non-Transparent FX Markets is a Bigger Risk Than You May Realize In the post Sarbanes Oxley and Dodd Frank world, CEOs have a lot on their minds. From conflict minerals disclosure to financial statement certification, regulations have buried corporate financial and legal departments with ever increasing requirements. And macro trends like increased disclosure do not usually reverse course. It is inevitable that greater scrutiny will be focused on even more elements of corporate management and operating activity. Given that burden and its obvious real economic cost, one might wonder why I would bring up the topic of foreign exchange trading and the associated economic and compliance risks. After all, CEOs have a department to deal with that largely administrative function, right? Well, in this case what you don’t know may actually be costing you a lot. To begin with, the FX marketplace is highly fragmented, immense and has existed as one of the least transparent of the capital markets. The market itself runs 24 hours a day, five days a week across every geographic time zone. With a daily average volume of over $5 trillion in the aggregate, the FX market has no consolidated tape and no… Read full this story
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