Big Banks Losing Institutional FX Clients

May 03, 2012 10:24 AM ETBK, C, JPM, USB, DB, CS, UBS, KEY, PNC, WFC, GS, MS, BBVA, SCGLY, STT, FX, BBD, MUFG, NTRS, BAC, NWG, BCS, HSBC, LYG, RY, TD, CM, BMO, BNS
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Contributor Since 2011

Gerald Segal is a Managing Director at LeapRate, which provides analysis of the Online Forex Trading world. Gerald's reports are a leading source of information on the size, growth and regulation of the Online Forex industry. Prior to founding LeapRate Gerald was an investment banker for 18 years with firms such as Robertson Stephens, Bear Stearns and Merrill Lynch.

Large FX clients moving to ECN trading and FX-specialist firms for analysis.

Large institutional Forex clients -- such as pension funds, corporations and university endowment fund -- are looking beyond their traditional bank relationships for their Forex needs, and the banks are losing FX market share.

A number of lawsuits brought against banks such as BNY Mellon and State Street Bank have alleged that these banks massively overcharged their pension fund clients on Forex trading. Lawsuits or not, institutional Forex traders -- whether speculators or those looking to hedge or deal with "real" currency issues -- are looking for much better advice and pricing in their currency trading efforts.

For the rest of this article see LeapRate's Forex Industry News at leaprate.com.

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