FX platform pricing needs a rethink, say banks

Old-fashioned cash register

In any sector, the fees charged to use a critical service are likely to be controversial, especially when the fee structure is somewhat opaque and antiquated. In foreign exchange, banks are under ever-increasing pressure to save costs, particularly in their activity on trading platforms, where some say the charges levied on them to participate can sometimes be greater than the spread they earn on the trade.

With banks pressing for an overhaul of pricing and new entrants such as ParFX aiming to a

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