CitiFX signs up to Currenex

The agreement, for which Citi is paying Currenex an undisclosed annual fee, adds to a number of other benchmark arrangements the platform has signed with other banks.

Richard Hartheimer, managing director, product and business development at Currenex, said banks' corporate customers would increasingly be using benchmark structures to deal forex. "I think benchmark operations will mean request-for-quote trading for corporates will significantly decline over the next couple of years." He said