What’s driving FXPB moves and will more US firms embrace Mifid II?

HFMWeek examines the reasons why custodian banks are eyeing move into low margin space

Since the Swiss franc was depegged from the euro in 2015, banks haven’t been falling over themselves to offer FXPB services. Quite the opposite. The move saw several prominent macro funds collapse and the heavy losses suffered by FXPBs led to repricing, slashing client bases and some pulling out of