You can now read 10 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

The Boston Globe

Business

Fidelity moved trades away from BNY Mellon

Foreign-exchange business shifted in ’09

The controversy over foreign-exchange trading costs had not yet made headlines in September of 2009. But Fidelity Investments was already shifting trades away from a major player in the arena, Bank of New York Mellon Corp.

Internal e-mails among BNY Mellon executives at the time show “significant lost business’’ at the bank from Fidelity’s institutional arm, Pyramis Global Advisors and Fidelity Canada. The e-mails detail the bank’s efforts to keep the powerhouse client by slashing prices - and then returning prices to “normal’’ when the effort failed.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week