Industry demarcation – Liquidity providers versus prime-of-prime brokers

Home https://ift.tt/3v4CeXq The term ‘non-bank liquidity provider’ may not be new, but recent months have seen it used more liberally in corners of FX markets. Richard Elston, head of institutional at CMC Markets Connect – the recently rebranded business-to-business division of CMC Markets – discusses what is driving the evolution of this narrative, and why care needs to be taken not to misuse such a powerful term