We leverage our data, technology and expertise to shine a light on the hidden costs of trading foreign exchange.
We empower our customers to make better informed decisions, driving performance and growth.
We produce and publish the world’s only continuous, officially regulated benchmark rates for Spot and Forward FX.
The world’s only continuous, officially regulated benchmark rates for spot and forward FX.We construct our benchmark rates by looking across the entire global market not just a sub-section of it, so you can be sure you are seeing the whole picture. Measuring costs against anything other than an objective benchmark risks overlooking hidden costs or confirming prevailing, inefficient biases.
Independent, unbiased data is key to objective measurement. The price you are quoted in the foreign exchange market depends on who you are and who you ask, so finding the best price presents a huge challenge. The first step to finding the best price is knowing the true price; this is an objective price that is not subject to bias or potential manipulation by those who would profit from skewing the market in their favour. NCFX is unique because we are independent of liquidity providers and venues, so we have no vested interest in who you trade with or where you choose to execute your trade. Our benchmarks provide the best reflection of the true price in the market, and you can use them to move towards optimal execution.
Real-time data that provides guidance throughout the lifecycle of a trade. NCFX data is calculated and published in real-time which means you are supported pre-trade in selecting an appropriate trading strategy, through the lifecycle of the transaction itself, and then into post-trade analysis and reporting. Our data empowers you to confidently understand and take control of your FX execution costs.
Easy access. Our real-time streaming price feeds can inform you before you trade, or you can accurately assess your performance after you trade. You can access our data products through the NCFX TCA Hub which can be directly integrated with your existing systems, is fully automated, and is configurable for each unique client workflow.
Complexity, opacity. FX execution cost chains are complex. They include not only well understood costs based on transparent fixed and variable price points, but also hidden costs associated with market volatility, counterpart liquidity, timing and other execution factors. We shine a light on all the costs.
Quality inputs lead to quality outputs. All analysis depends on the quality of the data on which it is based. In the decentralised FX market the unbiased mid-rate is hard to know. NCFX produces the fairest reflection of the true price in the market with our FCA-regulated benchmark rates. Our analytical tools use these true prices, so you can be confident that they provide a fair and accurate reflection of the FX market at any point in time. Any measure of foreign exchange costs derived from another rate can be inaccurate at best and misleading at worst, potentially reinforcing an expensive trading approach.
Advanced, rich information. Our transaction cost analysis goes well beyond simply measuring the cost of a trade. It can provide detailed contextualised feedback on your trading activities, allowing you to manage your trading relationships, understand the impact of your trading choices, and explore ways to systematically reduce your costs.
Forward-looking analysis that provides course correction throughout a trade. Our data, our partners, and our analytical framework put us in a unique position. We have developed the next generation of pre-trade tools that deliver actionable analysis, guiding our customers step-by-step towards optimal execution, leveraging advanced machine learning models to provide course correction throughout their trades.
Unashamed bias towards those trying to promote fairness and transparency. Our analytics and tools help to redress the imbalance between insiders and outsiders in the foreign exchange market, driving down our customers’ trading costs.
Deep industry experience.