New Change FX, an independent data and analytics business, has teamed up with EOSE to further strengthen the distribution of their independent FX data and TCA tools.
The EOSE is providing New Change FX with a team of expert data sales and business development professionals. This collaboration enables NCFX to concentrate its resources on developing core business strategies, the company said on its blog.
The offering helps pre-trade and post-trade TCA clients to better monitor their transaction costs when trading foreign exchange markets. The upgraded service enables FX investors to understand the liquidity environment and manage volatility, which can help reduce trading costs and improve foreign exchange strategy.
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). Additionally, the company offers other consolidated forex reference rates.
The models provided through these APIs give New Change FX’s customers the ability to forecast the effects of trading and, therefore, adjust their execution strategy so they can trade more efficiently.
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According to EOSE Founder and CEO, Suzanne Lock: “We are thrilled to be working with this exciting new data provider. As with many of our partners, New Change FX provides a unique and highly desirable data set which we know is of great interest to many market participants. NCFX is dedicated to creating an efficient and transparent market that is fair for everybody and we are delighted to be an integral part of their business development journey.”
Andrew Woolmer, CEO of New Change FX said: “EOSE’s deep understanding of the industry and proven business development capabilities were key factors in our decision to engage with them. NCFX regulated benchmark data is highly relevant to the investors and corporations the world over. We firmly believe this new relationship will help us to significantly accelerate our ambitious goal which is to provide our data and analytics on a global basis. We are looking forward to achieving great things together.”
The future of TCA providers is promising due to increasing transparency requirements that define the conduct of all market participants, including the need for buy-siders to prove the best execution. For instance, MiFID II requires participants to achieve the best possible result for clients, taking into account a range of execution factors.