BestX, formed earlier this year, has released its first TCA product. Colin Lambert takes a look.
If there has been a positive outcome from the trials and tribulations of the FX market in recent years it has been more focus on not only achieving best execution, but also about what that phrase actually means. This has resulted in more products and services aimed at helping clients make informed decisions around how they interact with the FX market – no longer is it just a sideshow that can be handled without due care and attention – as well as the gradual move into the market of new firms.
Thomson Reuters has partnered with BestX to enable buy-side participants using its FXall and FX Trading platforms to streamline analysis of transaction costs, helping them define, achieve and demonstrate best execution.
Through the partnership Thomson Reuters will offer connectivity to the independent transaction cost analysis (TCA) service from BestX from its FXall and FX Trading desktops.
Thomson Reuters customers will be able to have their trades sent automatically to BestX for independent post-trade transaction cost analysis, and also have a single sign-on desktop integration.