Mercer Launches New Tool To Monitor FX Transaction Costs

Date : 01/25/2012 @ 7:29AM
Source : Dow Jones News
Stock : Marsh & Mclennan Companies, Inc. (MMC)
Quote : 82.72  0.38 (0.46%) @ 3:59PM

Mercer Launches New Tool To Monitor FX Transaction Costs

Marsh Mclennan (NYSE:MMC)
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U.K. consulting firm Mercer said Wednesday it has launched a new foreign exchange transaction cost monitoring service, designed to ensure institutional investors are aware of how much currency trades are costing.

The firm, which is a subsidiary of Marsh & McLennan Cos. (MMC), said in a statement that the launch "reflects the growing interest that investors are paying to foreign exchange execution costs." This reflects a number of recent lawsuits against institutions who are alleged to have applied uncompetitive foreign exchange rates.

Mercer added that the new tool allows the likes of pension funds to request reviews of all spot and forward currency transactions conducted at multiple trading locations to see how competitive these transactions have been.

- By Jessica Mead, Dow Jones Newswires; 44 20 7842 9256; jessica.mead@dowjones.com; @djfxtrader

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