BestX Signs Up Citadel Securities for Independent Transaction Cost Analysis

London-based FX Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term specialist BestX has signed up Citadel Securities, a global market maker across a wide range of asset classes, as the first non-bank Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provider (NBLP) client to use its third-party best execution analysis platform for FX electronic trading.

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Through the partnership, Citadel Securities will offer seamless connectivity to the independent transaction cost analysis (TCA) service. The US trading firm’s clients will be able to have their trades sent automatically to BestX for independent post-trade transaction cost analysis, and also benefit from single sign-on integration.

The deal could also be seen as a response to increasing transparency requirements which define the conduct of all market participants, including the need for buy-siders to prove best execution. It allows Citadel’s customers to achieve and demonstrate best execution through post-trade transaction cost analysis (TCA) when trading electronically with Citadel.

Citadel Securities deals with a multitude of asset classes including equities, futures, options, treasuries, foreign exchange (FX) and swaps markets. More specifically, the group provides several market-making and liquidity solutions geared primarily for institutional clients across fixed income, cash and derivative products.

Citadel Securities is a unit of Citadel LLC, which also runs one of the world’s largest hedge funds, and is led by billionaire investor Ken Griffin.

Commenting on the deal, Kevin Kimmel, global head of eFX at Citadel Securities, said: “Quality execution and transparency are at the core of our client offering and partnering with BestX helps us demonstrate this. We have always supported transparency in the marketplace and view this partnership as another important step forward.”

Oliver Jerome, co-founder of BestX, added: “Citadel Securities’ adoption of our FX Analytics moves BestX another significant step towards our goal of being the industry standard for FX TCA.”