New Change FX (NCFX) has extended its independent data service to include forward points across standard tenors, non-deliverable forwards and restricted currencies.
Alongside the existing NCFX Spot service, the firm says the roll out ensures it is able to provide independent FX data for analysis of any FX deal.
Ahead of the implementation of the PRIIPs (Packaged Retail and Insurance-based Investment Products) rules on 1 January 2018 it is obligatory for FX market users to obtain a consolidated feed of data that cannot be derived from a single dealer or platform and New Change FX claims it is the only market data provider able to meet this requirement.
“MiFID II has been grabbing the headlines for FX market users, but it’s clear that many have missed the point that in fact PRIIPS contains the definition and standard for FX TCA,” says Andy Woolmer, CEO of New Change FX. “That standard demands that price measurement is conducted against an ex-ante consolidated mid-rate that cannot be derived from a single dealer or platform. New Change FX is the only data provider to fulfil this PRIIPS requirement for FX market users, both for spot and forward rates.”