Buy side resigned to higher pricing
Despite the proliferation of foreign exchange prime brokers, competitive pricing has failed to follow and remains at the elevated levels introduced at the end of 2008. Buy-side traders said margin requirements by prime brokers are still reflective of the specific currency risks, which are split into four to five tiers. Similarly, managers noted ongoing concerns around counterparty risk mean banks are much more pedantic about disclosure requirements with onerous full disclosure demanded for
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