Without it you aren’t measuring anything.
NCFX began calculating live FX midrates in 2012 because we realised that FX TCA isn’t worth the paper it’s written on if the data comes from inside your cost-chain.
Using data that comes directly from a trading platform which directly forms part of your cost, or data that comes from a source that can be used to execute your business by your bank or broker means that you are measuring inside the cost-chain. As soon as FX data comes from within your FX cost chain, the possibility is that you have a result that suits the cost-chain, and not you.
Use independent data to ensure meaningful comparisons between your trading choices.
New Change Currency Consultants Ltd, which trades as New Change FX or NCFX, is authorised by the FCA (FRN:793983) to carry on the regulated activity of administering a benchmark under Part 4A of the Financial Markets and Securities Act 2000, pursuant to Article 34 of the (EU) Regulation 2016/1011, and can be found on the ESMA Benchmarks Register.
Why use NCFX Data?
Considerable steps are being made in cost transparency. It is however apparent that where foreign exchange (FX) is concerned, there is still a need to explain the drag on returns that comes from poor FX execution and to underline how simple it is to reduce...read more
The Competition and Markets Authority (CMA) has released its working paper on the Investment Consulting business and its grip on the UK investment landscape. Whilst there is a great deal of work on questionable practices, questionable value-add, and questionable...read more
Whose (FX) Money Is It Anyway? FX costs are the last great unmanaged cost incurred by investors. Despite their significance to investors, they remain largely ignored. This is because costs are hidden in spread and vary widely. So we have read with great interest the...read more