Thomson Reuters, BestX Partner on Buy-Side FX TCA
BestX will also leverage Thomson Reuters FX market data for proprietary models in best execution analytics application.
As a result of the partnership, Thomson Reuters will offer connectivity to the independent TCA service from BestX from its FXall and FX Trading desktops, with trades sent automatically to BestX for independent post-trade TCA.
BestX will also adopt Thomson Reuters FX market data to power the proprietary models in the BestX FX Best Execution Analytics application, which provides users with interactive reports that include a range of performance metrics designed for the specific characteristics of the FX market covering spread cost, impact cost, performance against specific benchmarks, post-trade revaluations, implementation shortfall, and signaling risk.
Best execution rules are becoming increasingly important due to upcoming changes in the Mifid II regulation, as well as the implementation of the Global FX Code of Conduct.
"Thomson Reuters recognizes the very specific needs of the FX buy-side for transaction cost analysis and for this reason we have been really impressed with the BestX analytics, which are unique in this space," said Neill Penney, co-head of trading at Thomson Reuters, in a statement. "Our open platform approach means we are able to connect BestX with our FXall and FX Trading platforms, bringing our customers improved capabilities while eliminating the integration work they would otherwise have to perform themselves."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
New data granularity rules create opportunities for regtech providers
As evidence, Regnology increased its presence in North America with the addition of Vermeg's Agile business—its 8th acquisition in three years—following a period of constriction and consolidation in the market.
Bond tape hopefuls size up commercial risks as FCA finalizes tender
Consolidated tape bidders say the UK regulator is set to imminently publish crucial final details around technical specifications and data licensing arrangements for the finished infrastructure.
The Waters Cooler: A little crime never hurt nobody
Do you guys remember that 2006 Pitchfork review of Shine On by Jet?
Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T
Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.
BlackRock, BNY see T+1 success in industry collaboration, old frameworks
Industry testing and lessons from the last settlement change from T+3 to T+2 were some of the components that made the May transition run smoothly.
How ‘Bond gadgets’ make tackling data easier for regulators and traders
The IMD Wrap: Everyone loves the hype around AI, especially financial firms. And now, even regulators are getting in on the act. But first... “The name’s Bond; J-AI-mes Bond”
Can the EU and UK reach T+1 together?
Prompted by the North American migration, both jurisdictions are drawing up guidelines for reaching next-day settlement.
Waters Wavelength Ep. 293: Reference Data Drama
Tony and Reb discuss the Financial Data Transparency Act's proposed rules around identifiers and the industry reaction.
