Banks may charge you up to 25x more to hedge
According to a 2019 European Central Bank report, the majority of corporate FX customers pay up to 25x more to hedge their FX exposure than bigger, more sophisticated customers.
Wells Fargo defrauded 771 corporate FX customers
In 2021, the US government announced a 72.6 million USD settlement with Wells Fargo who defrauded 771 business customers by charging higher FX rates than were agreed upon.
Bank markups on FX deals vary wildly
Our analysis of trades valued at 80+ billion USD found companies that don't benchmark pay up to 150% more than peers who do.
By benchmarking your FX trades you no longer have to accept an unfair rate. Simply present your bank with your FX benchmark information, and receive a lower rate with little to no need for any further negotiation.
Access live interbank market data and margin analysis
Simply enter your trade details and your provider’s quote. Get instant margin analysis based on real-time market data whilst on the phone with your bank. Use these insights to hold your bank to account. And better manage your exposure and costs.
Benchmark forward contracts with real-time data
FX Benchmark helps you get the best rates from your bank for short and long contracts. Just choose a date or tenor for your currency pairs, and get fast answers. Reduce your exposure and lower your FX costs.
Get FX rate alerts for forwards, not just spot rates
Unlike other FX tools, with FX Benchmark you can automatically track and set rate alerts for any tenor (e.g. 3m, 6m, 1y, 2y etc.). You can keep quarterly and annual exposures under control, whilst getting the lowest prices for longer forward contracts.
Demystify confusing bank speak with easier metrics.
Cut out complex PIP calculations. Often banks quote their mark-up in confusing PIPs that vary in value depending on currency pairs. Get a mark-up metric that standardises the math calculations for any currency pair - PPM (parts per million). Know which pairs are costing you more. The lower the PPM, the better the deal.