e-FX initiative of the year: NewChange FX
Independent mid-rate company triumphs
The reputation of benchmarks has been going downhill ever since Libor came under fire. Foreign exchange followed shortly with the WM/Reuters benchmark and the inevitable billions of dollars in fines started rolling in.
Some $10 billion later, it's fair to say FX practices have seen a thorough overhaul across the board. Regulatory initiatives such as the Fair and Effective Markets Review in the UK have put a firm emphasis on transparency, time stamping and practices designed to avoid conflict of
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