ITG, an agency broker and financial technology firm, has launched a comprehensive transaction cost analysis (TCA) product for the institutional foreign exchange (FX) market. ITG TCA for FX leverages the richest data set available in the TCA market, with data from 10 providers including some of the largest FX market makers, electronic communications networks (ECNs) and banks. ITG TCA for FX measures transactions against tick-level traded rates, indicative rates, fixing rates and the forward rate curve.
ITG TCA for FX enables buy-side traders and investment professionals to better understand the liquidity landscape and manage volatility, which can help reduce overall trading costs and improve foreign exchange strategy. This new product complements ITG TCA for equities, which is the most widely used TCA offering among asset managers globally, according to Greenwich Associates. ITG TCA assesses trading performance and implicit costs under a variety of market conditions, enabling traders and portfolio managers to adjust strategies, reduce costs, boost performance and potentially improve fund rankings.
“FX is the largest and most liquid securities trading market, but it is also among the least transparent and most challenging to trade in,” said Ian Domowitz, head of ITG Analytics. “ITG TCA for FX combines the power of ITG’s industry-leading equities TCA platform with an unmatched set of FX transaction data in order to measure performance, improve execution processes and quality and fulfil compliance requirements.”
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