BestX is including the FX Tape, a service provided by FastMatch, a Euronext company, within the BestX Best Execution FX Analytics, allowing clients to choose to include the FX Tape as an additional benchmark against which they can analyse their trade portfolios.
BestX is the first FX analytics provider to offer clients FastMatch’s FX Tape service as a benchmark to its client base, which includes asset managers, hedge funds, wealth managers and sovereign wealth funds.
“As the industry standard for FX TCA, it is important that BestX offers the FastMatch FX Tape as an additional benchmark within our analytics for our clients. The inclusion of the FX market’s default streaming mid is another material step towards increasing the transparency of the FX market,” says Oliver Jerome, Co-Founder at BestX.
FastMatch’s FX Tape provides a centralised streaming service that offers real-time last trade data to all subscribing market participants. The underlying trade data is comprised of a diverse group of participating segments within the global market place. The ultimate mission of FX Tape is to create a transparent and public reference point for all spot foreign exchange participants, according to officials.