Refinitiv, a global provider of financial markets data and infrastructure, announced this Thursday that it has formally launched a new analytics solution for customers of FXall called Trade Performance Analytics.
Based in New York, FXall is a foreign exchange (forex) aggregator which provides electronic trading to banks and brokers through an electronic communication network. For institutional clients, the company uses straight-through processing to provide electronic forex trading.
Increased regulatory scrutiny and enhanced conduct standards are increasing consumer demand for higher transparency and further information on their forex execution. According to the statement released today, the solution aims to address this demand for its institutional clients.
Refinitiv solution allows FXall clients to compare liquidity providers
Specifically, Trade Performance Analytics enables users of FXall to assess the quality of their historical execution. Consumers are provided with a range of analysis, which can be filtered depending on preference, as well as presented in several analytics views.
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Furthermore, Trade Performance Analytics allows consumers to compare liquidity providers in terms of pricing and offering, as well as see the transaction costs they incur on a daily basis.
Commenting on the new solution, Jill Sigelbaum, the Head of FXall said: “We developed Trade Performance Analytics to help FXall users gain a better understanding of the transaction costs they incur during the normal course of their daily trading, and enable them to have more meaningful conversations about pricing with their liquidity providers.”
“Trade Performance Analytics differentiates itself by utilizing Refinitiv’s powerful FX data to deliver a comprehensive analytics solution that is seamlessly tied to the trading workflow.”
Currently, FXall has a client base of more than 2,300 customers. In addition, it has connected with 180 forex banks and alternative market makers. The Trade Performance Analytics solution will initially only be available for FXall users. However, over time, the solution will be available for Refinitiv’s other trading venues.