Take control of your FX costs.
Independent data. Independent TCA.
New Change FX is an award winning fintech company. We specialise in delivering price transparency to the FX markets with live, regulated, independent data.
New Change FX is dedicated to creating an efficient and transparent market that is fair for everybody.
What we do
NCFX data is created by aggregating live feeds from multiple FX ECNs. We calculate a live, consolidated FX midrate millions of times a day from independent sources. We take no data from any underlying price maker directly to ensure that the rate cannot be manipulated whilst being representative of the market midrate at any given time.
We provide midrates in Spot, Forward, NDF and Restricted Currencies.
We work with central banks, sovereign wealth funds, pension schemes, banks, asset managers, asset consultants and major corporations globally.
Our Products
NCFX Data
NCFX TCA
Benefits to our clients
- Forensically measure and monitor your FX transactions
- Monitor, understand and control your FX implementation costs
- Compare costs between counterparts, systems or processes
- Quantify and understand the actual value of market making to clients
- Improve FX intelligence and performance
- Set up bespoke reporting to meet regulatory demands across mutliple jurisdictions
- Ensure compliance and operational efficiency in all your FX transaction
- Develop best execution policy framework and verify results
Senior Currency Manager at Metzler Capital Markets.
Chief Executive at Record
Why New Change?
Clear
Honest
Automatic
Complete
• Delay cost
• Price Impact
• Effective Spread
• Realised Spread
• Decay (pre and post trade)
• Implementation Shortfall
• TWAP
All for one clear price.
FX execution cost-chains are complex. They include many entities that are paid through your execution flow, so the more flow you do with them, the more they earn. This includes custodians, banks, brokers, market-makers, (some) TCA providers, FX aggregation platforms and so on. The interest of each participant is to look as cheap as possible, so taking TCA results from anywhere inside the chain is problematic.
Without measurement from outside the cost-chain, you aren’t measuring anything, so if understanding costs and improving execution is important to you, then you need independent data.
Insights
Unlocking the Benefits of Independent FX Benchmarks
New Change FX (NCFX) was a sponsor of the mid July 2020 Global Virtual TradeTech where we spoke about the importance of independent data and the introduction of regulated Benchmarks in the FX industry as a whole to improve, not only actual execution costs, but also...
The Unit Cost of Volatility
One of the challenges market participants face when analysing their FX transaction costs is how to compare results across different currency pairs and volatility regimes. A given spread for 1 million EURUSD might be considered very tight under certain conditions, but...
The Unit Cost of Volatility at the 4pm Fix
The 4pm Fix conducted in London is a seemingly immovable feature of the Foreign Exchange (FX) markets. The Fix is still widely used by corporations and asset managers, despite the controversy over the wisdom of its use. To provide a fresh look at the issue, NCFX has...
