TRADE TECH FX
THE OFFICIAL NEWSPAPER OF TRADETECH FX EUROPE 2018
D ai l y
REDUCING HUMAN TOUCH
BUY-SIDE PRIORITIES HAVE BEEN
HISTORICALLY DOMINATED BY
REGULATORY CONCERNS, BUT A SURVEY
OF SENIOR FX BUY-SIDERS SUGGESTS THAT
AUTOMATION IS NOW TAKING OVER.
FIXING FOREIGN EXCHANGE
RICHARD TURNER p. 18 ANDREAS ANSCHPERGER p.12
“We have to be very
stringent with brokers
because their data is
critically important for
our TCA - they have to
take it seriously.” “The functionality of
algorithms should be
simultaneously advanced,
flexible and intuitive as
possible, but will always
be under revision.”
THE BATTLE WITH LEGACY TECHNOLOGY
SOLUTIONS IS AN ONGOING CONCERN
FOR MANY BANKING INSTITUTIONS,
BUT ARGUABLY NO MORE SO THAN
IN FOREIGN EXCHANGE.
A NEW AGE FOR FX
ONE YEAR INTO THE FX GLOBAL CODE OF
CONDUCT, HOW IS THE INDUSTRY HANDLING
THE NEW ENVIRONMENT?
State Street acquires FX TCA startup BestX
STATE STREET MAKES ANOTHER
MOVE INTO FRONT OFFICE TRADING
TECHNOLOGY WITH ACQUISITION OF
FX TCA PROVIDER BESTX.
B
oston-based financial services giant State Street
has acquired a transaction cost analysis (TCA)
specialist for foreign exchange (FX) markets in the
bank’s latest move to boost front office capabilities.
State Street will acquire BestX from Thomson
Reuters, which has held a 10% stake in the com-
pany as BestX retained majority ownership of the
remaining 90%. BestX will be fully integrated into
State Street as a wholly-owned subsidiary upon
closure of the deal.
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