FX desks ponder brokerage fee for fix trading

Standard management fees for large-cap funds remain controversial

Some foreign exchange desks are considering charging brokerage fees for clients wishing to execute against the WM/Reuters fixing rates, as regulators continue to scrutinise bank activities in relation to daily price benchmarks.

The WM/Reuters closing rates are set each day at 4pm Greenwich mean time, and are based on trades conducted over the preceding and following 30 seconds of the fixing time. The most commonly used fixes in the market, they account for the highest average trading volume per

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