who buys at the ask price in spot fx? - futures io
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who buys at the ask price in spot fx?


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who buys at the ask price in spot fx?

  #1 (permalink)
brisbane queensland australia
 
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who buys at the ask price in spot fx?

I mean apart from speculators. Do institutions need to cross the spread when they want to buy off another institution?

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  #3 (permalink)
copenhagen Denmark
 
 
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Hi John, yes they do...unless they want to fiddle around with limitorders where they join the bid/ask.

Smaller institutions (banks) usually just buy at market (Ask) but the big banks might be more prone to use limits to save the spread costs...But spreads these days are very low in the majors.

Most FX trading is done via EBS and Mathcing which works in the same way as a futures orderbook.

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  #4 (permalink)
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johnEdweeno View Post
I mean apart from speculators. Do institutions need to cross the spread when they want to buy off another institution?

Institutions can not be generalized as one entity. Some have deeper liquidity than another and may buy at the ask if necessary. Second, the purpose for some may be hedging, cash conversion or other where a tick is of insignificance.

Matt Z
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