Banks to shoulder Atriax’s costs
NEWS
LONDON -- FX and treasury trading portal Atriax is to charge the price-maker for trading on its platform, which launches trading this week.
Atriax decided the original strategy -- to split the cost between the price-maker and price-taker -- would be unworkable. A statement from the firm explained: "Unlike banks, price-takers have no mechanisms to account for, reconcile and remit FX brokerage and, in the case of many investment managers, no authorisation from their clients to pay such fees."
While
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