There are no precise estimates of the split between retail and institutional activity in the Australian foreign exchange market. But this year, as part of the Bank of International Settlements’ 2013 triennial report on global foreign exchange, the Reserve Bank will join its counterparts around the world in making a respectable stab at it. It will be the first time the bank has estimated retail trading’s share of the overall market. Preliminary global results are expected in September. The chief markets strategist at trading platform CMC Markets, Michael McCarthy, defines an institutional trader as someone who is ... (full story)