Did you get the best execution price on your trade? FXT Analytics can help you
We have a new player in forex benchmarking practices that aim to provide proper verification mechanisms to institutional traders and brokerages alike. The company’s name is FX Transparency and it has just introduced its product called FXT Analytics. The application is aimed at providing customers with reports and analytical tools that could help optimize transaction costs and create their personalized reports.
The application enables both supply and demand side parties to verify execution prices at any given time and filter trades based on a set of 19 different criteria such as ticket size, execution algorithms and execution counterparties.
According to FX Transparency’s COO John Galanek most of the clients of the company need to be able to create reports on certain subsets of trading data. While the product is aimed primarily at asset owners and asset managers it can certainly be used for optimization of supply side customer demands. According to Galanek the depth and integrity of information that clients receive has improved and there are demanding a more detailed review of best-execution practices.
FXT Analytics is positioned to get answers for clients to a set of important questions such as whether custodians are sticking to execution arrangements, which dealers have the best pricing, and how order execution quality is impacted by changes at key counterparties.
Following is a link to the full press release by FX Transparency.