The final phase of uncleared margin rules (UMR) could trigger a shift in FX options trading from OTC to exchange-based trading.  
The FX industry is no stranger to mergers and acquistions. Since 2006, there have been 11 major transactions, with the pace only accelerating.
This report provides detailed information from Global top-tier financial foreign exchange users.
Thanks to the dual trends of e-trading and more intense competition, dealers are finding it challenging to make money on some transactions.
Market structure change over the past decade has been directly or indirectly catalyzed by the credit crisis of 2008. That post-credit crisis era is now over. Here are the Top 9 Market Structure Trends for 2019 from Greenwich Associates.

All Against All or Winner Take All

Greenwich Report
October 2018 By: Ken Monahan
The FX market offers a plethora of counterparties and trading protocols – but how do market participants go about choosing among them?
Electronic trading is growing marketwide, although top-line growth in the past two years has slowed from revolutionary to evolutionary.
The electronification of foreign exchange trading has entered a new phase. 
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