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ITG Cooperates with Fxall on launch of ITG TCA for FX

The new offering quantifies and evaluates foreign exchange trades versus several benchmarks.

Investment Technology Group is announcing a new transaction cost analysis service for foreign exchange, ITG TCA, developed in cooperation with FXall, a leading institutional foreign exchange trading platform. The new offering quantifies and evaluates foreign exchange transaction costs.

ITG TCA for FX allows clients to analyze foreign exchange trades versus several benchmarks and thoughtfully develop their execution strategies, according to the release. ITG will leverage FXall’s expertise in foreign exchange with its own leadership in transaction cost analysis.

ITG pointed out the growing expansion of TCA across multiple asset classes. ITG TCA for FX allows institutions to validate the impact of different foreign exchange trading strategies with benchmark data from FXall. It has been adapted for the unique structure of the over-the-counter foreign exchange market to provide transparency into an increasingly fragmented market. Users will gain insight into how to select the most appropriate execution mechanisms given their requirements and liquidity through multiple report options and an automated delivery process.

“The foreign exchange market is the largest and most liquid securities trading market, but arguably also the most challenging to trade in,” commented Ian Domowitz, managing director of ITG, in the release. “ITG TCA for FX helps traders complete the trading process by measuring and comparing foreign exchange transaction costs with a comparable level or precision that is only available in the equity market,” stated Domowitz.

Phil Weisberg, CEO of FXall, stated, “We are pleased to be working with the leader in TCA to leverage their knowledge and provide an additional service to our clients. Through this agreement, we can now provide independent insight for institutions to make better trading decisions.”

The new product allows customers to target specific analytical segments such as currency pair and transaction type in order to gain insight into diverse execution strategies, noted the release.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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