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One must assume that Americans view this pluralism as worth the extra transaction costs they bear.
But market timing also creates extra transaction costs that are borne by all investors in a fund.
British banks must explain why they are adding this extra transaction fee on top of the profits they are already making on foreign exchange rates.
The checks they make for their Islamic hedge funds can piggyback on the checks they make for their conventional hedge funds.Mohammed Amin of PricewaterhouseCoopers, a consulting firm, says the extra transaction costs for a commonly used Islamic financing instrument, called commodity murabaha, total about $50 for every $1m of business.
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Once you have invested in a trading platform, the cost of running extra transactions over it is minimal.
Some of the councils did point out that their figure for this year might be adjusted upwards in April when some extra transactions were factored in.
And that's where Bidzy is positioning itself to take a percentage cut of all those extra transactions it makes possible.
For an extra 75 cents per transaction users could hide their Liberty Reserve account numbers, effectively making the transactions entirely untraceable.
They went to the cash machine to take out some euros, and only the traveller from Britain had to pay extra for the transaction.
Sturgeon, who warned that forcing Scotland to use a different currency would cost firms in the rest of the UK up to £500m in extra bureaucracy and transaction costs, hinted again that a Scottish government could refuse to pay its share of the UK's debt, expected to hit £1.6tn in 2016, the proposed year of Scottish independence.
So on top of the existing interchange fee of 25p, operators are paid an extra 10p per transaction.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com