Brief Overview:
ADs mandated to give full disclosure of transaction costs to retail users for FX cash, tom and spot.
Effective – 3 months from the date of issuance of these instructions.
Technical Details:
Key Highlights
1) Disclosure of the total transaction cost before execution and in deal confirmations.
2) Transaction costs to include sending and receiving fees including those of any intermediaries, FX rates and currency conversion charges.
Takeaways:
This can ensure enhanced price transparency in everyday FX dealings for retail users.
For further details, please see:
Disclosure of transaction cost for foreign exchange transactions
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