Offshore relocation minimises forex processing costs
Released last week (July 5), the survey compared processing costs and volumes for 11 major banks over 16 product types, 13 operations and IT activities. Cash FX and FX options trade volume was found to have risen by 70% in 2006 from the prior year.
These surging trade volumes helped reduce cost per trade in both cash FX and FX options, according to the survey. Cash FX cost per trade fell from $2.87 to $1.59 in 2006, while FX option cost per trade fell from $26.15 to $17.02 in the same year.
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