News & Insights

When measuring in FX, an Independent Benchmark makes all the difference. The emergence of independent mid-rates has made price opacity optional. To paraphrase Gibson, a fair and efficient FX market is already here, it’s just not evenly distributed yet. Let’s establish what makes a mid-rate independent and then examine how independent mid-rates are being employed in a number of different market solutions to distribute the benefits of price transparency beyond market insiders.

The evolution of Transaction Cost Analysis away from a ‘box ticking’ exercise towards making TCA relevant to execution continues apace....

Without wishing to provoke unpleasant memories of being forced to eat your greens, we would like to explain why consuming high-quality,...

Executive Summary A new study of share class hedge returns conducted by Lumint Corporation and New Change FX (NCFX) reveals significant...

One of the challenges market participants face when analysing their FX transaction costs is how to compare results across different currency pairs and volatility regimes. A given spread for 1 million EURUSD might be considered very tight under certain conditions, but unjustifiably high in other circumstances. At present analysis of transaction costs is not dynamic across differing market conditions, so Broker A might be circumstantially better than Broker B, but when those ci

The 4pm Fix conducted in London is a seemingly immovable feature of the Foreign Exchange (FX) markets. The Fix is still widely used by...

In the current Financial Market landscape, data can be a major determinant of whether businesses succeed or fail. The transformative...

Independent Benchmark Mid-Rates for Foreign Exchange The use of benchmarks is widely accepted in both everyday life and in the world of...

An often overlooked problem in transaction cost analysis is endogeneity. The term arises from econometric analysis. It describes how the...

It used to be that FX price discovery happened over the phone at what must seem, to a self-aware computer, an excruciatingly slow pace....

When looking at FX costs it is absolutely crucial to understand that without independent, aggregated data that reflects pricing sources...

Considerable steps are being made in cost transparency. It is however apparent that where foreign exchange (FX) is concerned, there is...