We do this so that you can measure your trades without relying on data or analysis provided by your executing bank or broker. We measure the following: FX execution cost-chains are complex. They include many entities that are paid through your execution flow, so the more flow you do with them, the more they earn. This includes custodians, banks, brokers, market-makers, some TCA providers, FX aggregation platforms and so on. The interest of each participant is to look as cheap as possible, so taking TCA results from anywhere inside the chain is problematic.
On 15th November, the Council of the European Union published a proposed amendment to the text. The rule clarifies that when measuring FX Conflicted Data or why you can't mark your own exam Take control of your FX costs. Independent FX data and measurement tools.
We calculate a live, consolidated FX midrate millions of times a day from independent sources. We are the only TCA provider in the world to do this. Live, independent FX midrates in 2, spot currency pairs and almost 9, standard forward tenors. No manual processes, no delay in knowing. We are unique because we are objective. We charge clear, set amounts for our services. We charge you directly instead of taking hidden fees from your bank as your deals are being executed.
This means we are not inclined to favour one bank, broker or platform over another. We use NCFX midrate data in calculations because data independence is key to measurement.
As the NCFX data is not available for trading your bank cannot influence it. Without independent data you have no idea what your costs really are. We never keep or use your trade data or show it in aggregated form to others. Has the EU seen the light on FX variation margin?More...