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Solutions

Drawing on our unique data sets, sophisticated tools, and deep foreign exchange experience, we we work with our clients to create tailored solutions to address their foreign exchange challenges and define a more efficient path to market.

NCFX is an FCA-authorised benchmark administrator.

We produce and publish the world’s only continuous, officially regulated benchmark rates for Spot and Forward FX.

Deep industry experience. Our team has a wealth of experience in all aspects of foreign exchange and a network that encompasses liquidity providers, asset managers, asset owners, central banks and utility providers like money managers and corporate entities.

A more efficient path to market. We help our clients design highly efficient execution strategies, review liquidity providers, identify gaps or pricing that is out of context with peers, explore matching solutions and fixing choices, and engage with new providers.

Get in touch to find out more

Case Studies:

Digital Vega

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.

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Raidne

Raidne was founded in 2016 to provide advanced analytics and trade surveillance for the financial sector.

Siren Benchmark: Alternative benchmark fixing.

With FX market impact flagged as a concern when trading to other benchmarks, Raidne and NCFX introduced the Siren Benchmark.

Published every 30 minutes during the trading week for all the NCFX-MI benchmark spot pairs, Siren employs an optimal execution model to reduce the market impact of trading into a fixed point in time. It uses a longer fixing window than current benchmarks which makes it less vulnerable to manipulation, and multiple fixing points allow users to move volume away from the most crowded points in the trading day Raidne provided the methodology for calculating the benchmark, while NCFX produces it as benchmark administrator.

Trading of Siren commenced in Q1 2021.

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Siege FX

Siege FX is an independent fintech created to deliver FX execution cost-reducing solutions.

Peer-to-peer FX: NCFX mid-rate Benchmarks employed to achieve fully anonymous netting at a neutral rate.

Seeking to address the high costs of fx execution driven by market fragmentation, information leakage, information assymetry, and cost uncertainty, Siege FX launched Siege Mid-Pool, a peer-driven service for spot FX with continuous matching at a regulated benchmark streaming mid-rate.

Launched in Q1 2021, the service uses NCFX regulated mid-rate benchmarks to ensure neutrality and transparency.

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Shining a light on the true costs of trading foreign exchange.

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