Coalface Capital, a fintech firm focused on using artificial intelligence (AI) technology in the investment management sector, has selected New Change FX (NCFX) as the pricing provider for its automated trading system. NCFX provides live mid-rates across 2,500 spot pairs and 8,500 different forward tenors. “We conducted a review of possible providers of “true-mid” pricing […]
Tag: New Change FX
New Change FX
Denmark’s Jyske Bank says it 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.
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.
Metzler Capital Markets, a German-based currency management firm, has selected New Change FX as their independent partner for analysing transaction costs.
New Change is a UK company that calculates an independent live reference mid-rate for
all currency pairs, with the aim of enabling market users to measure the full cost of their foreign exchange execution.
“By working with New Change FX, we are able to measure transaction costs against an independent benchmark,” says Simon Wesch, senior currency manager at Metzler. “This justifies the trust our customers place in us in currency management. We not only apply best price execution, we also prove it.”
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 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.
A new report finds that institutional investors are taking a more active approach to managing portfolio-wide currency risks, and in particular there is a greater appetite for active currency overlays.
The report, by investment analytics firm bfinance, says this change is being driven by divergence in European and US interest rates, geopolitical unrest and greater scrutiny of costs.
The report also recommends investors look beyond the headline fees and look closer at transaction costs, stating, “Although front-end fees receive column inches, transaction costs have been the subject of serious reappraisal from investors and regulators alike. The days of prop trading scandals may have ended; the days of investors accessing more cost-efficient trading are only just beginning.”