Report: Banks Cut FX Transaction Fees

Currency-cost analysis provider, FX Transparency, has unveiled an analysis regarding the currency trade fees charged by banks, The Wall Street Journal reports. The report states that some banks have decreased the amount of fees they charge due to allegations that some pension funds and other clients have been overcharged.

The analysis unveils that clients paid 0.11% more than an average currency-transparency benchmark cost in 2010, from an average of 0.30% between 2000 and 2009. The analysis was based on a review of 200,000 “standing-instruction” trades. The banks or clients have not been identified by FX Transparency.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Pensions & Investments.