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Big Banks Losing Institutional FX Clients

|Includes: BAC, BBD, BBVA, BCS, The Bank of New York Mellon Corporation (BK), BMO, BNS, C, CM, CS, DB, FX, GS, HSBC, JPM, KEY, LYG, MS, MTU, NTRS, PNC, RBS, RY, SCGLY, STT, TD, UBS, USB, WFC

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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