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nowjeon906 OP t1_ixyctaf wrote

Could you elaborate who is the "etc" beyond banks and brokers?

Do all these organizations have a similar degree of access to data regarding international trade done between two currencies?

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Present-Clue-101 t1_ixyf331 wrote

It's complicated because Bloomberg, Reuters and the Financial Times are usually top-level economic data companies that many banks themselves will source data from, but these media companies will in-turn source their data from the banks. Other sources include the central banks, brokers, IMF, statistics companies, investment mangagement firms, investors, companies that deal in large amounts of FX, etc... basically anyone who is considered by the media company to be affecting FX rates.

The top three that I listed above certainly have similar levels of access to financial data for live FX rates, but technically media companies will compete to provide the best FX rates possible so obviously there will be differences between companies.

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