New Change FX (NCFX) have announced the release of their new and independent FX Transaction Cost Analysis (TCA) tool on the Microsoft Office Store. The new tool:
- is written in Microsoft Excel for maximum convenience
- uses NCFX’s award winning independent FX data on 65 currency pairs to ensure objective measurement with no circular referencing
- keeps all the client’s trading data securely within the client’s own infrastructure – no data ever leaves to ensure maximum trade information security
- provides analysis in milliseconds so that every trade (particularly in algo executions) can be measured accurately against an independent reference rate.
- delivers results in both USD costs and Basis Point costs
- costs, NCFX claim, “Some 50% of the other less independent TCA tools.”
Andrew Woolmer, CEO of NCFX said: “Our new TCA tool enables users to assess accurately their FX costs against an independent FX rate without sensitive trading information leaving their business environment. This tool allows clients to separate FX execution from the assessment of FX costs so that each platform, bank, broker or execution algorithm used in the execution process can be assessed and directly compared. The tool also enables the control and compliance functions to monitor the activity of the trading team against independent data that cannot be manipulated.”
NCFX TCA tool free trial period
The NCFX tool is available for a trial period as a free download for users of Microsoft Office 2013 via the Microsoft Office Store.
CTMfile take: It is no wonder that in 2015 NCFX was the winner of the FX Week’s e-FX initiative. The use of truly independent FX rates to carryout TCA is fundamental to achieving full transparency in the FX market. The new Excel based TCA tool makes it easier to use these indepenedent rates.
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