Currency management firm Record Currency Management has engaged New Change FX, an independent provider of FX data and transaction cost analysis (TCA), to further enhance Record’s commitment to deliver minimum cost and maximum transparency for clients.
Record says it has always placed a high value on minimising transaction costs for clients, and providing the greatest level of transparency and disclosure available in the OTC FX market. To this end, it has a dedicated trading team and maintains multiple routes to access market liquidity. The firm adds it already undertakes extensive analysis to demonstrate its obligations of best execution, and will strengthen that further through the analysis provided by New Change FX.
New Change FX calculates an FCA-regulated, independent mid-rate against which transactions can be measured. The firm’s customers can therefore understand and measure foreign exchange costs against benchmark rates that cannot be influenced or altered by their chosen liquidity providers.
“We are excited by the further opportunities presented by engaging with New Change FX”, says James Wood-Collins, chief executive at Record. “Cost efficiency and transparency are a fundamental part of Record’s service, and we are confident that this will only strengthen what we can offer our clients”.
Andy Woolmer, CEO of New Change FX, adds, “We are delighted and honoured to be able to count one of the foremost names in foreign exchange amongst our clients. We are looking forward to helping Record to deliver further cost efficiency to their clients, and we hope to explore new product opportunities with Record in the future.”