Tag: BestX

BestX

And Another Thing…

We should not be blind-sided by the relative calm at this week’s quarter end WM Fix, the fact is FX market conditions are as bad as I can remember them in my almost 43 years in the industry – and that includes countless multi-big figure days (or hours sometimes). The difference when those conditions hit […]

BestX Unveils Fill Position Metrics

BestX has rolled out its Q1 technology release, included in which is a new fill position metric for FX traders, a product that the firm believes adds another valuable dimension to analysing the performance of algos. To compute the metric, BestX takes tick data during the execution window and then compares that to the prices […]

Jarman Joins BestX

Chris Jarman has joined BestX as head of fixed income sales. Based in London he joins from GAM Investments, where he was previously head of fixed income and FX trading, and will focus on meeting client demand for the new BestX Fixed Income analytics. “Chris brings 16 years of fixed ncome trading and portfolio management […]

BestX Hires Salvatore

BestX has hired Pete Salvatore as VP, sales and client support. Based in New York, Salvatore joins having most recently worked at ITG/Virtu Financial as an FX analytics account manager for six years. At ITG, he worked with Jim Cochrane, who is now MD and head of sales for North America at BestX. Prior to […]

Market Impact: Friend or Foe?

Speakers at the Profit & Loss Forex Network New York event highlighted that how you define, measure and respond to market impact when trading FX depends on a number of different variables. Opening the discussion ‘Market Impact – Finding Execution Styles that Work’ moderator Paul Aston, the CEO of Tixall Global Advisors, argued that while […]

Currenex and FX Connect: An Aggressive Roadmap

2018 “began with a bang” for Currenex and FX Connect due to the implementation of MiFID II, according to David Newns, global head of Global Link Execution Services at State Street, which owns both platforms. He adds that a “not inconsiderable amount of blood, sweat and tears” went into ensuring that the two Multilateral Trading Facilities (MTFs) that it was required to launch were up and running ahead of the January 3 deadline, an experience that was shared by many market participants in Europe last year.

Currenex and FX Connect: An Aggressive Roadmap

2018 “began with a bang” for Currenex and FX Connect due to the implementation of MiFID II, according to David Newns, global head of Global Link Execution Services at State Street, which owns both platforms. He adds that a “not inconsiderable amount of blood, sweat and tears” went into ensuring that the two Multilateral Trading Facilities (MTFs) that it was required to launch were up and running ahead of the January 3 deadline, an experience that was shared by many market participants in Europe last year.

Does TCA Really Need to be Independent?

Speaking at the Forex Network Chicago conference, Mike Harris, president of Campbell & Company, discussed the pros and cons of independently provided transaction cost analysis (TCA).

Pressed on whether a fintech firm being acquired by a larger company is necessarily a bad thing for their clients, Harris pointed to the example of BestX, the TCA provider that was acquired by State Street in August.

Harris explained that Campbell & Company partnered with BestX because their TCA product was focused specifically on FX rather than being adapted from equities, and that they were the first to offer peer-to-peer functionality so that firms could opt-in to compare their trades to other people’s, as well generally being at the forefront of the TCA space.

In the FICC of It

In this week’s In the FICC of It, your podcasters are taken to task by a listener over some points they may have missed when discussing the State Street/BestX deal last week and Galen Stops asks Colin Lambert the question (on behalf of a listener), ‘can you be too client focused?’
They also look at the impact of political events on FX markets and Lambert appeals to listeners of a ‘certain generation’ (i.e. as old as he is!) to come up with times when global politics was potentially such an influence on FX markets?
The evolving market structure of crypto markets also attracts their attention, and they ask the question; ‘Can innovation really thrive in banks today?’

In the FICC of It

In this week’s podcast episode, Colin Lambert and Galen Stops share their views on the takeover of BestX by State Street. What does it mean for BestX’ USP of independence? What drove the deal? Will it be a success?
They also touch upon the latest lawsuit in FX circles, served by former Fastmatch CEO and founder Dmitri Galinov against the firm and its owner, Euronext US, and ask whether this highlights yet another barrier to success for the swathe of fintech firms targeting the FICC sector?