Thomson Reuters is working with FX analytics specialist BestX to enable buy-side participants using Thomson Reuters FXall and FX Trading to streamline analysis of transaction costs, helping them define, achieve and demonstrate best execution.
As part of the agreement, BestX will also adopt Thomson Reuters leading FX market data to calibrate and power the proprietary models in the BestX FX Analytics platform.
Through the partnership, Thomson Reuters will offer seamless 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 benefit from single sign-on desktop integration.
The BestX FX Best Execution Analytics application provides customers with:
- interactive reports that include a range of performance metrics designed for the specific characteristics of the FX market including spread cost, impact cost, performance against specific benchmarks, post-trade revaluations, implementation shortfall, and signalling risk
- a single point of analysis for trades executed across all transaction venues, using consistent methodology and benchmark data regardless of execution source.
CTMfile take: This is an inevitable development as Thomson Reuters continue their mission to become a one-stop-shop for the FX buy-side.
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