Back in the old days, I remember a sales jub challenging me to make a price good enough for a large oil company to trade on in USD/DEM. “64 choice,” I replied. The client didn’t trade; apparently, it had got a better choice price away.
So naturally I’m cynical about the prospects for Saxo’s latest offering, its FX Choice account. In essence, the account allows the bank’s clients to benefit from the super tight – sometimes even choice – prices that result in the stream of liquidity from Saxo’s inter-bank partners.
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