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FX Knowledge Blog
October 28th, 2016
by Jimmy McGeehan

The quest for financial market transparency continues, link below. Regulatory authorities globally, led by Europe (ESMA) & UK (FCA), have mandated oversight on transaction costs as a core requirement for all fiduciaries in a proper best execution framework. The mandate … Continue reading

Posted in Financial Regulation, FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


October 12th, 2016
by Jimmy McGeehan

FX Liquidity: The great disappearing act, GBP style October 7th Asian hours Upon review of our proprietary interbank market data in GBPUSD late Thursday US & UK/ early Friday Asia (23:07 GMT Oct. 6th / 07:07 HK Oct. 7th), it … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


October 5th, 2016
by Jimmy McGeehan

FCA proposals point governance liability directly at global investors. This proposal will be up for consultation until January 4, 2017. Throw in MiFID II best execution requirements drawing closer, firms will have a narrowing window to improve data collection and … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


July 27th, 2016
by Jimmy McGeehan

Custody bank State Street Corp (STT.N) said it has agreed to resolve all pending litigation and regulatory matters in the United States related to its indirect foreign exchange business. State Street said it expects to pay a total $530 million … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Press |


July 27th, 2016
by Jimmy McGeehan

Rather than whining about the pending uncertainty post-Brexit, GE’s Jeff Immelt lays out an actionable plan. He has no choice, with significant revenue and operations globally he cannot let the prevailing political sentiment interfere with his quest to deliver value … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis |


July 21st, 2016
by Jimmy McGeehan

We are saddened to see another negative example of the OTC FX market splashed across the world’s leading newspapers. These two headlines below aptly demonstrate the strain the institutional currency market is under. The banks likely believe they have the … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


July 21st, 2016
by Jimmy McGeehan

HSBC forex traders charged with criminal fraud http://www.ft.com/cms/s/0/9c44fe7a-4e97-11e6-8172-e39ecd3b86fc.html#axzz4F33H4Ddd The latest legal and regulatory concerns related come from an alleged situation of HSBC’s FX desk front-running a large corporate currency transaction. The profit estimated for the bank, $8 million. HSBC internal … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Press |


July 15th, 2016
by Jimmy McGeehan

FXT views the prevailing condition of high geopolitical uncertainty coupled with declining multi-asset market liquidity and unprecedented interest rate markets (~$12 trillon of developed market government bonds with negative yield) as a dangerous cocktail for FX transaction costs as the … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Press |


December 15th, 2015
by Jimmy McGeehan

Independent buy-side market think tank, New City Initiative, released a paper today outlining excessive FX execution costs, with conservative estimates totaling 1.5 billion EUR for European asset managers. The paper calls for clear direction from regulators regarding new MiFID II … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis |


July 3rd, 2013
by Jimmy McGeehan

Franklin Templeton highlights the significant improvement in their international asset portfolios w/ FX TCA and how it fits into their best execution policy. The article demonstrates the need for direct FX expertise to accurately perform FX TCA. Additionally the currency … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis |


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