TCA
A new study by Lumint Corporation and New Change FX (NCFX) argues asset managers are “turning a blind eye” to FX costs and passing these costs directly on to end investors by means of a lower net asset value. The study finds the average transaction cost of an overlay FX hedge is $267 per million, […]
Virtu Financial, which provides trading technology and liquidity, announced the continued expansion of its execution services offering with the launch of Prism Frontier, a post-trade analytics tool designed to provide transparency and forensics around client executions. Last month, Virtu released a TCA product for FX algo execution. In order to perform meaningful analysis of execution […]
The FICC Markets Standards Board (FMSB) has released a fourth, and what it says is its last spotlight review, this one studying the challenges in measuring execution quality and how different participants assess it. FMSB acknowledges the increased focus on best execution and transaction cost analysis (TCA) by market participants and regulators and says that […]
It is an old saw in the FX industry that firms respond to customer demand and with algo usage on the increase for firms executing FX trades, inevitably eyes have turned to XTX Markets with the question, ‘will it also enter the market for algos?’ As one of the biggest FX market makers such questions […]
Virtu Financial today announces the expansion of its global TCA offering with the launch of a new analytics product dedicated to FX algorithmic execution. As consumers of its own products, Virtu says it incorporates firsthand learning into its analytics tools that are designed to assist clients in analysing their trading decisions. Drawing on its scale, […]
I’ve been pondering not only the decline in volumes at the primary FX venues, but also what seems to be a struggle on the part of any anonymous venue to really build numbers, and have come to the conclusion that while the slippery slope may not get any steeper, I don’t see many opportunities for […]
Although the availability of liquidity remains the biggest daily concern for market participants, according to JP Morgan’s annual e-trading survey, the results also suggest growing concerns about the availability of data and an increased focus on data services. The annual survey, now in its fourth year, invites institutional and professional traders to share their views […]
With more data available to FX market participants than ever before, the real value is in being able to interpret this data, says Maria Prata, managing director, global FX, at Deutsche Bank in a new video interview with Profit & Loss. Acknowledging that “data” has become something of a buzzword in the FX industry […]
The agenda established by the Global Foreign Exchange Committee for the focus of the impending three-year review of the FX Global Code was not expected to surprise – and it didn’t. As I argued in Monday’s column the key factors in need of discussion and review largely surround execution – although I have to acknowledge […]
The Global Foreign Exchange Committee (GFXC) at its meeting in Sydney this week established five areas of focus for its work to maintain the FX Global Code, with algo execution and transaction cost analysis (TCA) being added to the existing workstreams around buy side outreach, disclosures, anonymous trading and execution principles. According to GFXC chair […]
