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News & Insights
Expanded Currency Coverage for NY Options Cut
Expanded Currency Coverage for NY Options Cut. As part of our ongoing service enhancements, New Change FX (NCFX) has expanded its...
Jul 171 min read
NCFX Options Cut included in annex A of the 1998 fx and currency option definitions
New Change FX has received a boost with news that ISDA is incorporating the firm’s Options Cut calculation in its FX and currency options Definitions – documentation used by the vast majority of market participants to provide a legal framework for their trading. The Options Cut has been included in Annex A of the 1998 FX and Currency Option Definitions, co-published by ISDA and EMTA, and says NCFX, marks a major milestone in the firm’s mission to bring greater transparency, i
Jul 91 min read
Precision Pre-Trade Analytics for a Data-Driven FX Market
Our Expected Spread Model empowers our clients to anticipate, assess, and optimise the cost of FX transactions with unprecedented clarity. The Problem with Historical Averages Traditional methods of estimating FX spreads rely on backward-looking databases of past trades. While intuitive, these approaches often fail due to inconsistent data, inadequate granularity, and a lack of real-time relevance—especially in the forward market where credit and market structure dynamics mak
Jun 104 min read
New Change FX has won the 2025 IMD/IRD Award for Best Data Analytics Initiative
New Change FX (NCFX) is proud to announce that it has been awarded the 2025 IMD/IRD Award for Best Data Analytics Initiative by WatersTechnology, recognizing its innovative product, Forwards365™, for its transformative impact on the sell-side FX market. In a record-breaking year for submissions, Forwards365™ stood out for its ability to bring automation, transparency, and real-time analytics to the complex world of forward FX trading. The award highlights NCFX’s commitment to
Jun 51 min read
Unlocking the Power of Granular FX Forwards Data
Unlocking the Power of Granular Data to Transform the Forward FX Market: Insights from New Change FX “Transparency is not the same as looking at data; it is the ability to see and understand data in context,” according to leadership expert Simon Sinek. We agree with Sinek and believe the evolution of the foreign exchange market is inextricably linked to the availability of accurate, unbiased and granular data. The landscape of foreign exchange trading has undergone a seismi
Mar 274 min read
Automating the FX Forwards market one step at a time
NCFX Options Cut: Automating the FX Forwards market one step at a time Revolutionising options expiry with automation In the ever-evolving foreign exchange market, the need for efficiency is paramount. New Change FX’s Options Cut process is rapidly becoming the industry standard for automating the expiry of foreign exchange options, and for good reason. As price makers and takers strive to reduce costs and reallocate resources towards more profitable ventures, operational
Mar 272 min read
NCFX Options Cut: A new market standard
NCFX Options Cut: A new market standard The NCFX FX Spot mid-rate benchmarks are becoming the preferred standard for clearing and determining automated FX option expiries. In the decentralized and fragmented FX market, reaching consensus on clearing rates is a complex task. A transparent and reliable benchmark is essential, and the NCFX Options Cut is emerging as an effective solution. FX markets rely on two concurrent systems for price discovery: the continuous auction mark
Nov 28, 20243 min read
The Analytics Edge: Transforming the FX Markets
The analytics edge: Transforming the FX markets The steady rise of electronification in FX markets has ushered in a new era of data-driven decision-making. As the FX execution workflow becomes digitised, data analysis has become an indispensable component of the ecosystem. With more data at firms’ disposal than ever before, Transaction Cost Analysis (TCA) is playing a crucial role in helping them fine-tune their strategies. John Stead, Director of Sales Enablement, Strategy,
Nov 28, 202410 min read
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