Up to 14 of the world’s top investment banks, including Goldman Sachs, Citigroup and Morgan Stanley, missed out on a combined windfall of more than $50m as a result of prematurely selling their stakes in the electronic currency platform, FXall, according to analysis by Financial News.

FXall, a multi-bank foreign exchange trading platform that was set up in May 2001 and is backed by 16 major dealers, was last week bought by Thomson Reuters for $625m, or $22 a share. The deal came five months after the platform floated on the New York Stock Exchange for $12 a share.