FX midrate

Objective data.

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.

NCFX continually measure the global FX markets to record a live, independent FX midrate.

Why use NCFX Data?

FX midrate

Accurate

NCFX data is created by aggregating aggregated live market bids and offers in real time. We don’t use any post-trade data and we only take data at ‘institutional’ size to avoid using information from ‘fishing’ orders to create an accurate midrate that reflects the live market mid.
FX midrate

Independent

NCFX Data is only available as a reference feed, and not as a trading feed. It is unique in the FX markets as it is the only source of live, aggregated data that is created in precisely the same way as the prices you trade on – but cannot be traded.
FX midrate

Clear

We charge for our services in a clear and straightforward way. We do not add fees to trading prices in order to benefit from the client flows.
FX midrate

Accessible

NCFX data is available via FiX Cross-Connect, FiX API or Rest API so take your pick and start building your apps on strong, reliable data.

A solution for all your FX data needs. As an FX data specialist, we’re happy to provide our data for all purposes. Please get in touch to discuss your needs.

Insights

MIFID II – TOP FIVE ACTIONS THAT PENSION SCHEMES NEED TO TAKE

The PLSA has issued a list of the top 5 actions that schemes need to take ahead of Mifid.  You can read their article here.  In essence, schemes need to: Assess the value of investment research. LGPS schemes need to "Opt Up" from retail to professional status in order...

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Why You Can’t Mark Your Own Exam Paper

Some thoughts from NCFX on using conflicted data to measure FX trades. The problem with conflicted data, or why you can’t mark your own exam papers… The last few months have seen a change in pace for the FX transaction cost analysis (TCA) business.  Financial firms...

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ESMA updates the PRIIPS rules

New Change FX (NCFX) welcomes the recent confirmation of the PRIIPS rules on FX transaction cost analysis (TCA).  Andy Woolmer, CEO of NCFX said: “This FX TCA clause provides a clear and firm basis on which to conduct FX TCA.  The rule clarifies that when measuring FX...

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