Reitz, Stefan; Schmidt, Markus A.; Taylor, Mark P. - Volkswirtschaftliches Forschungszentrum <Frankfurt, Main> - 2009
Though unambiguously outperforming all other ¯nancial markets in terms of liquidity,foreign exchange trading is still performed in opaque and decentralized markets. In par-ticular, the two-tier market structure consisting of a customer segment and an interdealersegment to which only market...