Why the buy side loves FX

EDITOR’S LETTER

There was a time not so long ago when FX as a tradable asset class was to all intents and purposes the exclusive domain of investment banks. Granted, there was always a handful of hedge funds or asset managers one step ahead of the pack using FX as a hedging tool, or even trading it as a source of alpha, but these firms were the exceptions to the rule.

But times have changed. Along came the era of electronic trading and the ensuing decentralisation of trading activities as the large global e