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Screenshot of a breaking news alert e-mail from Q2 2017
FX Transparency (“FXT”), the largest independent provider of FX transaction cost analysis (FX TCA) to the institutional space globally, today announced a partnership with oneZero Financial Systems, a provider of institutional trade-routing software to the Foreign Exchange market, to bring rTCA(TM) to the retail forex broker community. rTCA(TM) is a version of FX Transparency’s flagship transaction cost analysis reporting developed to fit the needs of the retail currency market.
“The retail FX trading community is littered with claims of tight bid/ask spreads, but no independent source has actually measured those claims until now. rTCA bridges the gap between retail FX conventions, and institutional analytics and best practices,” said James McGeehan, CEO of FX Transparency. “Our history and success creating exacting analyses of FX trading costs for the world’s most demanding asset managers will now help top-tier retail brokers fight false claims and win more business.”
“This is a way for the serious retail brokers to really separate themselves from the competition with the credibility that comes from being measured by a truly independent source,” said Stephen Leahy, Head of Business Development at oneZero Financial Systems.
Increased competition for new business in the retail FX space, as well as rising regulatory scrutiny surrounding execution quality are driving a market need for independent, third-party measurement of trading costs.
“We know FX TCA, and oneZero has the domain expertise in the retail currency market, so it’s a very complimentary fit,” added McGeehan.