Understanding Your FX Costs

We have read with great interest the FX Week exposé of the market practises still common in the Foreign Exchange (FX) markets.  The problems highlighted in the article are of importance to investors because they serve to conceal costs and conflicts of interest from...

The Impact of FX Costs on Performance

As we have learnt from FX Week today, there is a view held by some in the FX community that adding costs for clients through spread is just fine.  We disagree. Aside from being questionable from a MiFID2 perspective, adding just USD 1 per million means knocking of...

FX TCA must be done to PRIIPs standards for MiFID compliance

In the hullabaloo of Christmas and getting our aggregated rate approved by the regulator, we missed this very important regulatory Q&A that was issued by ESMA on December 18th 2017.  Amongst the various clarifications, they deal with the following question in...

Ever wondered what’s wrong with the FX business?

This article (see link below), by Eva Szalay, editor of FX Week, neatly summarises the key issue with the FX business.  Stashing fees in spread should be a source of shame to asset managers, but it continues, despite new MiFID2 requirements.  Charging investors for...