Refinitiv’s FXall launches automated forward fixing tool
New service offers asset managers automatic competitive pricing for a benchmark trade’s forward points
Refinitiv’s dealer-to-client foreign exchange trading platform, FXall, has launched a service that will automate the task of gathering competing quotes on the forward component of benchmark swap orders, but some believe it could force banks to increase pricing in other areas.
The new Forward First Fixing function is geared towards buy-side firms, particularly large, passive asset managers, that are mandated by their investors to execute FX swaps trades – which consist of either a spot and a
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