Financial Times
This article of the Financial Times discusses Professor Harald Hau's recent research on discriminatory pricing of over-the-counter derivatives.
This new research is the first data-driven study of the traditionally opaque world of forex derivatives pricing, and gives support to anecdotal evidence that smaller corporate clients tend to pay higher rates for protection against swings in exchange rates.
鈥淭he elephant in the room is that dealers systematically and consistently overcharge clients who don鈥檛 have currency trading expertise,鈥� says Prof. Hau, adding that 鈥渢he price discrimination occurs systematically against the less sophisticated market participants, namely small export and import companies.鈥�
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2019
