Monday, 26 January 2015
Last updated 1 hour ago
Apr 13 2009 | 11:33am ET
Hedge funds sharply curtailed their foreign exchange trading last year, amidst big losses and widespread redemptions.
According to a report from Greenwich Associates, hedge fund forex trading volumes dropped 28% in 2008.
All told, forex trading volumes rose 15% last year. But that is just half as fast as they grew in 2006 and 2007. Hedge funds had been the biggest factor in the growth of forex trading over that period; they had increased 180% to make up fully one-third of all forex trading.
Increased trading by companies and large financial institutions more than covered the loss of hedge business, Greenwich reports.
Deutsche Bank and UBS captured the largest market share of forex trading last year, with 10.8% and 10%, respectively.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…