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.
Why use NCFX Data?
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...
A common misconception of FX market liquidity is that it is plentiful, and so market impact does not matter. A dive down into the BIS triennial survey data shows that FX markets are far less liquid than people think, and market impact is a driver of transaction costs...
New Change FX (NCFX) is proud to announce the launch of a new suite of Foreign Exchange APIs that provide customers with access to NCFX TCA Calculations and Models as well as access to regulated NCFX FX Benchmark data. Within the API suite we are pleased to add new...