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Markets behaving badly

Brexit is trigger for market liquidity migraine


Swaha Pattanaik 

Swaha Pattanaik If asset managers are anxious before Britain's European Union referendum, the traders who handle their orders are just as troubled. Market gyrations before the June 23 vote might make it look like they are in line for a repeat of the huge profits made following sterling's 1992 exit from the Exchange Rate Mechanism. But the industry has undergone a sea change that could leave market-makers struggling even to ensure normal service. Some banks and stock exchanges have warned clients that trading conditions could be difficult and volatile, and flagged the risk of large gaps in the ...

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First Published: Mon, June 20 2016. 21:22 IST