State St case puts FX deals under scrutiny

- By FX Markets Staff
- @FXMarkets_
- 02 Nov 2009

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State Street is being sued for overcharging custodian clients $56.6 million on FX trades (FX Week, October 26). According to a New York-based head of FX trading at a global bank, clients will now also scrutinise their FX agreements with prime brokers. He added that the market will also begin to look at whether custodian banks are held to the same standard as the rest of the FX market when seeking out best prices for clients.

"Banks not charging brokerage for the currency aspect of non-FX trades

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