Goldman Sachs Group Inc. is preparing to offer foreign-exchange prices that last for days to help fintechs, airlines and e-commerce firms avoid turbul
Goldman Sachs Group Inc. is preparing to offer foreign-exchange prices that last for days to help fintechs, airlines and e-commerce firms avoid turbulence in the $6.6 trillion-per-day global currency market.
The Wall Street giant has begun quoting FX rates that last for minutes and plans to extend this in the coming weeks, according to Abbas Khamisa, executive director in FX solutions and structuring at the bank. The aim is to help firms hedge risk and protect them from having to do hundreds of transactions at different rates.
Several other banks have offered similar services, but clients have reported challenges …
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