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Holding bankers to accountA decade of market manipulation, regulatory failures and regulatory reforms$
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Oonagh McDonald CBE

Print publication date: 2019

Print ISBN-13: 9781526119438

Published to Manchester Scholarship Online: September 2019

DOI: 10.7228/manchester/9781526119438.001.0001

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PRINTED FROM MANCHESTER SCHOLARSHIP ONLINE (www.manchester.universitypressscholarship.com). (c) Copyright Manchester University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MSO for personal use.date: 21 September 2021

A rapidly changing foreign exchange market

A rapidly changing foreign exchange market

(p.145) Chapter 6 A rapidly changing foreign exchange market
Holding bankers to account

Oonagh McDonald

Manchester University Press

This chapter shows how much the Forex market has changed and developed over the years. It also reveals what goes on behind the scenes when buying foreign exchange at a bureau de change, paying bills to a company in another country or booking a hotel using a credit card on the internet or by telephone. The days of noisy trading floors where dealers shouted at each other have long gone, to be replaced by computers and people tapping at keyboards or talking quietly to each other. When did the Forex market start to change and why does it matter?

Keywords:   Forex, FX swaps, Financial Stability Board, BIS Triennial Survey, Application programme interface, High Frequency Trading

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