The interconnection of the three networks facilitates greater accessibility as more ATMs can now serve the withdrawal needs of depositors. More importantly, it reduces the cost of transactions since it eliminated fees associated with the use of international “switch” to connect the three networks.
In addition, market stakeholders have had to adapt to the same changing conditions. We often describe this in the context of a risk-on, risk-off [stance] or money is coming in or money is leaving. Here, perception and herd behavior matter, which is yet another layer of challenge to our jobs.