NatWest Markets is taking on the custody banks in the fast-growing foreign exchange overlay space, launching an offering based on execution transparency and flexibility for mid-tier asset managers and large institutional investors.
The UK bank’s new passive currency hedging service will bring together its principal trading desk and agency execution capabilities to offer customisable passive hedging programmes. It will utilise US financial technology provider Lumint’s software to support share class, portfolio, look-through and index replication strategies.
The offering will also include Lumint’s reporting and performance analytics, in addition to independent transaction cost analysis (TCA) benchmark data from New Change FX.
Nick Pedersen, head of digital at NatWest Markets, tells FX Markets…
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