Modified TruCross answers mid-price puzzle

State Street has recently modified its risk sharing mechanism within TruCross/FX to ensure that for the most liquid currencies, clients never get a rate outside of the published WM bid and ask rates. Moreover State Street is fully transparent on its costs. “Our fee for the TruCross most liquid currencies is half a basis point. But this could be less if the TruCross/FX algo driven management of the tail improves on the mid-rate, and while it could also be more, State Street has recently modified its risk sharing mechanism within TruCross/FX to ensure that for the most liquid currencies, clients never get a rate outside of the published WM bid and ask rates. Moreover State Street is fully transparent on its costs. “Our fee for the TruCross most liquid currencies is half a basis point. But this could be less if the TruCross/FX algo driven management of the tail improves on the mid-rate, and while it could also be more,

State Street has recently modified its risk sharing mechanism within TruCross/FX to ensure that for the most liquid currencies, clients never get a rate outside of the published WM bid and ask rates. Moreover State Street is fully transparent on its costs. “Our fee for the TruCross most liquid currencies is half a basis point. But this could be less if the TruCross/FX algo driven management of the tail improves on the mid-rate, and while it could also be more,