Tag: FX TCA

FX TCA

Record Currency Management Signs with New Change FX

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.

RBC Signs with BestX

RBC Capital Markets has added BestX to the transaction cost analysis (TCA) tools available to its global e-FX clients.
Through an agreement with the independent provider of TCA, the bank says it will be able to provide its buy-side clients with independent TCA alongside its existing TCA offering. The independent TCA analysis will be available to clients executing algorithmic FX transactions and will be provided on a post-trade basis, enabling clients to independently verify the quality of the FX execution received.

LMAX Exchange Challenges Conventional Wisdom on TCA

A new white paper released today by LMAX Exchange seeks to offer more in-depth analysis of the cost of trading in FX markets and calls for the creation of “robust, commonly-agreed” transaction cost analysis (TCA) metrics that compare and contrast the differences between executing on firm and last look liquidity.
The paper, TCA and Fair Execution: The Metrics that the FX Industry Must Use, proposes a blueprint for clients to better discern and compare the costs of trading across firm and last look venues and argues that existing TCA metrics fail to capture the nuances and value of firm liquidity.

And Another Thing…

For the lovers of total transparency among my readers there is good news on the horizon as I am told that the FastMatch sponsored Tape for FX is “one or two banks short of becoming a reality”. So with the project imminent, it’s time to ask, is the Tape a good idea? I understand its value in an environment in which a product is traded across multiple venues in one centre but does the concept work in FX with its global, multi-jurisdictional and equally fragmented framework?

Firms Launch FX Consulting Service

Institutional FX Advisory Partners (IFXAP) is partnering with ITG Analytics to bring the latter’s FX TCA product to middle-tier asset managers and pension funds in Europe.
The new consultancy service will review the complete FX transaction lifecycle to ensure an efficient and transparent process, and, the firms say, seek to minimise cost and risk and maximise portfolio performance.
The consultancy covers the entire FX trade lifecycle, including use of third-party trading platforms, data delivery and connectivity, assessment of pricing and service provided by FX dealers, evaluation of front and back office process efficiency, and monitoring of execution costs using ITG’s FX TCA.