Getting objective measures in bank relationships
Over the past several years, improvements in interconnected digital exchanges have created an opportunity to automate pre-trade FX TCA calculations into bank panel or algo selections. In a corporate trader–focused innovation, AtlasFX has expanded on that by overlaying quantifiable FX bank relationship variables with FX TCA. The result is BankMinder, which automatically creates choices based on your bank relationship, credit risk and TCA benchmark weightings.
For multinational corporations, the relationship between the trading team and each bank’s FX sales team matters greatly, but there are other factors besides market color and currency execution to consider.1 Bank relations depend on the provision of credit, management of FX liquidity, capital markets access, and advisory support that are essential to a company’s global operations. Banks expect hard and soft dollar compensation for these services. They will demand their fair share of your FX trading volume, or wallet share.
The challenge for corporate treasuries is determining how to allocate wallet share in a way that properly rewards banks for their broader contributions while maintaining competitive FX pricing and diversified counterparty exposure. BankMinder’s bank relationship considerations quantify this for you in two simple, yet powerful variables: credit utilization and VaR.
Creating a structured framework for wallet share
The most common solution would be to create a spreadsheet and keep track of measurable factors such as credit limit, credit utilization and wallet share. Eventually, that would get onerous and could result in an unbalanced quid pro quo. Along with counterparty risk and FX TCA considerations, AtlasFX has created inputs for credit usage and currency positions to provide for objective measures for relationship considerations.
A structured scorecard approach
An effective way to achieve this is through a structured scorecard approach. Banks are evaluated across three dimensions:
- Credit Utilization: CreditMinder combines credit limit against credit used.
- Value at Risk (VaR): Outstanding currency position for each counterparty.
Each dimension is weighted to reflect the corporation’s strategic priorities, producing a transparent basis for allocating FX wallet share across the bank panel.
Why it matters
This framework delivers benefits on both sides of the relationship:
- For corporates: It ensures competitive execution and avoids over-dependence on a single counterparty.
- For banks: It provides clarity on how their support is valued and a roadmap for earning greater share of FX flow.
The strategic payoff
BankMinder’s disciplined wallet share methodology transforms FX from a cost center into a lever for strengthening strategic banking relationships. By linking flow to broader value and accurate post-trade FX TCA, treasuries not only secure better outcomes in the FX market but also reinforce the long-term partnerships that underpin corporate resilience and growth.
1 Thomas Jacques, “Global Corporates Looking Beyond Stand-Alone FX Services,” Greenwich (blog), November 2, 2023, accessed September 7, 2025, https://www.greenwich.com/blog/global-corporates-looking-beyond-stand-alone-fx-services.
