View Full Version : Foreign Exchange costs
lbrown
01-27-2009, 04:29 PM
What are the contributory factors to FX costs and how do you know that your custodian bank is not overcharging you in these areas?
Simon Thomas
02-09-2009, 04:47 PM
You need to tie the bank into market rates - it's al about transparency......
banks will always try to broaden spreads so they need to be policed.....
clairep01
02-10-2009, 02:29 PM
And this should be reflected in the clients custody contract
Yuri Kruglov
02-10-2009, 03:22 PM
You need to tie the bank into market rates - it's al about transparency......
banks will always try to broaden spreads so they need to be policed.....
How can I police my bank if I am a small company in Ukraine? The situation we (TMT-U) currently have with our settlement bank becomes unacceptable. FX spread offered by this bank is huge. It's buying rate is the lowest among the other banks and much lower than interbank rate. But they are too big. The only remedy is to switch to another bank....
Simon Thomas
02-15-2009, 01:16 PM
I suggest you consider using one of the many FX platforms that are unaffiliated to major banks.
These groups are worth looking at. Type in:
retail FX trading platorms, or
Currency exhange tools
I have never used one but I am told they are good.
Simon Thomas
02-26-2009, 03:55 PM
Who knows a lot about the new FX platforms? Tell me about them.....
Tim Reucroft
03-03-2009, 05:55 PM
How can I police my bank if I am a small company in Ukraine? The situation we (TMT-U) currently have with our settlement bank becomes unacceptable. FX spread offered by this bank is huge. It's buying rate is the lowest among the other banks and much lower than interbank rate. But they are too big. The only remedy is to switch to another bank....
I thought all the Ukrainian banks were closed - so this is a theoretical question
awright
07-08-2009, 05:00 PM
Retail foreign exchange services can indeed be very competitive. I've used UKForex/OzForex (it has a number of sites), www.ukforex.com. It's a partner of Macquarie Bank. No fees on transactions over a certain size, and spreads are low even on relatively small transactions. I'm sure there are other services which are just as good as well.