‘Distortion’ of free fix must end – FX Week Europe panellists

Widening the fixing window is also discussed

US dollars

Banks must start charging for FX benchmark execution to prevent manipulation and end the ‘distortion' created by offering it as a free service, argued participants on a panel at today's FX Week Europe conference in London.

"There is something about the fix I've never really understood... that it is free," said James Sinclair, chief executive of technology firm MarketFactory. "This is a distortion. Why is the sell side subsidising the buy side? My own feeling is that over time the buy side will

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