Denmark’s Jyske Bank has selected New Change FX (NCFX) as an independent data source for its capital markets business. The bank’s Markets division will use the data from the independent, ESMA regulated, entity to analyse its FX business.
“[NCFX] provides us with the ability to objectively measure our FX flows against a regulated set of data that is independent of our own stream of FX liquidity,” says Jørn (Luffe) Sodborg, director, head of e-trading and distribution at Jyske Markets. “This allows us to accurately assess both the quality of the FX liquidity we take into Jyske Markets and also ensure the quality of the FX liquidity we provide to our many clients. The NCFX rate ensures that we adhere to current European regulation and it makes certain that our clients get the best possible service, something we at Jyske Bank always champion.”
Andy Woolmer, CEO New Change FX adds, “We are very pleased that Jyske Markets has chosen NCFX as a partner in its FX business. The Nordic FX market as a whole is very important for NCFX as it has always been very progressive with regard to the adoption of new ideas. Within Jyske Markets we can see a real desire to provide clients with a high quality, benchmarked service that provides clients with full transparency of their service. This decision to allow the Jyske service to be independently measured speaks volumes about the confidence Jyske have in their service.”