New Change FX, an independent data and analytics business, announced this Thursday that its regulated foreign exchange (forex) benchmarks and other data products are now available on the Lucera Connect network.
Lucera is one of the leading technology service providers in the electronic FX industry. Its network consists of many different forex market participants and venues. The partnership will allow clients of Lucera Connect to have access to New Change FX’s solutions, as well as allow workflow integration to LumeFX deployments.
New Change FX provides a live spot FX benchmark that has been authorized by both the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA). The company also offers other consolidated forex reference rates.
New Change FX sees increasing demand for products
Andy Woolmer, the Chief Executive Officer (CEO) of New Change FX, said: “We are seeing increasing demand for our regulated FX data to enable live performance checking of price formation for both makers and takers.”
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“This service enables price providers to deliver real-time transparency through benchmarked execution to asset managers and asset owners and facilitates ‘In flight’ execution analytics. We are delighted to be partnering with Lucera, who have built a large and diverse network of FX market participants and venues. They share our vision of real-time data analytics.”
Lucera is not the first to onboard New Change FX’s services. As Finance Magnates reported, Record Currency Management Limited (Record) announced that it had partnered with New Change FX. The partnership will allow Record to give its clients further transparency and reduce their transaction costs.
“As the industry becomes increasingly electronic and data driven, real-time connectivity to data products like those offered by NCFX is key to building and maintaining a successful FX business,” added Frank van Zegveld, Managing Director Sales and Business Development at Lucera
“ From ensuring quality and efficiency of execution to fulfilling regulatory demands this data is invaluable. Andy and his team have an innovative product development pipeline and an expanding set of use cases for all market participants.
“We are delighted to welcome NCFX to our extensive FX community and look forward to working together to provide best in breed connectivity and data solutions.”