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Non Deliverable Forwards
Accurate pricing for Non-Deliverable Forward (NDFs) Curves
NDFS is NCFX's Non-Deliverable Forward Curve solution, delivering real-time and historical NDF market data directly to your trading systems.
What It Does
NDFS provides live streaming data across 17 currency pairs for forward standard tenors out to one year. Broken dates currently use the market standard interpolation method. Historical data from January 2016 is available for trend analysis, back-testing, and model validation. NDFS Daily Fixings will be launched shortly.
What It Will Do for You
Our Data can be used to centralize all your NDF data requirements in one reliable platform, eliminating multiple data sources and reducing operational complexity.
You can make confident trading decisions with comprehensive market coverage and seamless integration into your existing infrastructure using your preferred method.
We work with our clients when they have a particular data requirement to give them what they need.
Technical Details
Coverage
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17 currency pairs
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Forward tenors out to 1 year
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Historical data from January 2016
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NDF Daily Fixings (coming soon)
Access Methods
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FIX API
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WebSockets
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RESTful API
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Client Web Portal
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Case Study
Digital Vega is a leading provider of OTC FX option trading and workflow tools. Established in 2009, Digital Vega works with a wide group of buy-side clients covering hedge funds, private and regional banks, asset managers and agency brokers.
DVNC Options Cut: Automated Option Expiries.
Following significant buy-side demand for a solution to enable automation of the option expiry process, NCFX partnered with Digital Vega to introduce the DVNC Options Cut as a regulated benchmark Published for 84 expiries spanning the Tokyo, London, New York, Budapest, and Warsaw cuts, the DVNC Options Cut uses NCFX’s regulated mid-rate to provide the market with a neutral and transparent rate to determine the correct expiry rate.
The benchmark was launched in Q1 2020.
In the Press
Testimonials
Contact
Accurate pricing for Non-Deliverable Forward (NDFs) Curves
NDFS is NCFX's Non-Deliverable Forward Curve solution, delivering real-time and historical NDF market data directly to your trading systems.
What It Does
NDFS provides live streaming data across 17 currency pairs for forward standard tenors out to one year. Broken dates currently use the market standard interpolation method. Historical data from January 2016 is available for trend analysis, back-testing, and model validation. NDFS Daily Fixings will be launched shortly.
What It Will Do for You
Our Data can be used to centralize all your NDF data requirements in one reliable platform, eliminating multiple data sources and reducing operational complexity.
You can make confident trading decisions with comprehensive market coverage and seamless integration into your existing infrastructure using your preferred method.
We work with our clients when they have a particular data requirement to give them what they need.
Technical Details
Coverage
-
17 currency pairs
-
Forward tenors out to 1 year
-
Historical data from January 2016
-
NDF Daily Fixings (coming soon)
Access Methods
-
FIX API
-
WebSockets
-
RESTful API
-
Client Web Portal
Forwards & Non Deliverable Forwards
Case Study
Digital Vega is a leading provider of OTC FX option trading and workflow tools. Established in 2009, Digital Vega works with a wide group of buy-side clients covering hedge funds, private and regional banks, asset managers and agency brokers.
DVNC Options Cut: Automated Option Expiries.
Following significant buy-side demand for a solution to enable automation of the option expiry process, NCFX partnered with Digital Vega to introduce the DVNC Options Cut as a regulated benchmark Published for 84 expiries spanning the Tokyo, London, New York, Budapest, and Warsaw cuts, the DVNC Options Cut uses NCFX’s regulated mid-rate to provide the market with a neutral and transparent rate to determine the correct expiry rate.
The benchmark was launched in Q1 2020.
Insights
Testimonials
Contact
Case Study
Global investors seeking to hedge foreign currency exposures typically buy forward contracts. While effective, this strategy introduces cost and execution challenges:
Inefficient month-end rolls – A popular practise for rolling hedges is to use the month-end date. Market participants have typically crowded into this date where they are often met with skewed pricing and wider bid/offer spreads. The practise was initially driven by the pursuit of operational efficiency in an analogue world. In the information vacuum of poor forwards data, the operational benefits were obvious, and the costs were hidden. That changed when we introduced our Forwards365 data.
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Forwards & Non-Deliverable Forwards (NDFs)
We provide high-quality onshore and offshore forwards rate data designed for precision, transparency, and regulatory confidence
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Onshore Forwards: Standard tenors (ST) for over 50 currencies and 2,000 currency pairs
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Non-Deliverable Forwards (NDFs): Offshore data for 17 restricted currencies
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Tenors: Available up to 5 years
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Granularity: Advanced broken-date interpolation for 19 “maker” curves, using proprietary Forwards365™ methodology
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Market Standard: Straight-line interpolation applied where granular inputs are limited
What It Does – Use Cases
Our forward data service enables institutions to:
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Access real-time and historical FX forward curves for trading and analysis
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Model and price derivatives with enhanced accuracy
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Monitor market movements and forward spreads across global currencies
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Benchmark internal models against independent, transparent datasets
What It Will Do for You – Use Cases
Our data empowers your organization to:
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Deliver accurate results for Transaction Cost Analysis (TCA), trading, and risk management
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Enhance transparency in FX operations and valuations
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Support regulatory compliance with access to benchmark and historical datasets
Details
Standard Tenors (Onshore Data):
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~50 currencies and ~2,000 currency pairs
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~800 interpolated curves
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Updates every second or on market change
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39 official benchmark instruments
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Historical data from January 2016
NCFX Non-Deliverable Forwards (NDFs):
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17 USD-based pairs and ~400 crosses
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Historical data from 2016
Access & Delivery Methods:
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FIX API
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WebSockets
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REST API
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Client Web Portal
“NCFX Forwards365™ provides an independent view of the curve to aide in pre-trade price discovery and optimal date selection when rolling positions. Their data adds value in our process and helps give us increasing clarity into where the market is trading.”
- Eric Brown T.Rowe Brown (FX Trader)
Contact
Kinga Broel-Plater
Chief Commercial Officer
Kritan Ramanah
Sales Manager
Case Study
Global investors seeking to hedge foreign currency exposures typically buy forward contracts. While effective, this strategy introduces cost and execution challenges:
Inefficient month-end rolls – A popular practise for rolling hedges is to use the month-end date. Market participants have typically crowded into this date where they are often met with skewed pricing and wider bid/offer spreads. The practise was initially driven by the pursuit of operational efficiency in an analogue world. In the information vacuum of poor forwards data, the operational benefits were obvious, and the costs were hidden. That changed when we introduced our Forwards365 data.
“NCFX Forwards365™ provides an independent view of the curve to aide in pre-trade price discovery and optimal date selection when rolling positions. Their data adds value in our process and helps give us increasing clarity into where the market is trading.”
- Eric Brown
T.Rowe Brown (FX Trader)