Agency broker ITG announced the launch of transaction cost analysis for institutional FX trading, a platform it said will bring transparency to one of the most opaque asset classes to trade.
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The firm said its latest TCA offering will help the buy side to better understand the liquidity landscape and manage volatility, which will ultimately help lower trading costs and sharpen their strategies.
"Foreign exchange is the largest and most liquid securities trading market, but it is also among the least transparent and most challenging to trade in," said Ian Domowitz, the head of ITG analytics. Domowitz added that ITG's TCA for FX combines the capabilities of the firm's equities platform with a wide array of foreign exchange data to allow traders to measure performance, improve executions, and meet compliance requirements.
Research firm Greenwich Associates noted that ITG's TCA for equities is the most widely used system among asset managers across the world.