Barclays starts charging peers for benchmark orders
UK bank first to implement a fee on fix-related orders
Barclays has begun charging a fee for executing benchmark orders on behalf of other banks and sell-side institutions, but it continues to offer fix-execution services to other clients at mid-point prices, FX Week was told by people familiar with the matter.
In a break away from the existing under-fire model of handling fix orders at a mid-price for free, Barclays now charges banks and sell-side institutions a spread – the fee added to currency transactions – when handling benchmark orders.
Barcl
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