Investment Technology Group (NYSE:ITG), a leading agency broker and financial technology firm, today introduces ITG TCA for FX, a new offering that quantifies and evaluates foreign exchange transaction costs.
The product was developed in cooperation with FXall, a leading institutional foreign exchange trading platform, to leverage their foreign exchange market expertise and ITG's leadership in transaction cost analysis. ITG TCA for FX allows clients to analyze foreign exchange trades versus several benchmarks and thoughtfully develop their execution strategies.
As a leading provider of transaction cost analysis, ITG demonstrates the growing expansion of TCA across multiple asset classes. ITG TCA for FX allows institutions to validate the impact of different foreign exchange trading strategies with benchmark data from FXall. It has been adapted for the unique structure of the over-the-counter foreign exchange market to provide transparency into an increasingly fragmented market. Multiple report options and an automated delivery process enable users to gain insight into how to select the most appropriate execution mechanisms given their requirements and market liquidity.
"The foreign exchange market is the largest and most liquid securities trading market, but arguably also the most challenging to trade in," said Ian Domowitz, Managing Director at ITG. "ITG TCA for FX helps traders complete the trading process by measuring and comparing foreign exchange transaction costs with a comparable level of precision that is only available in the equity market."
Phil Weisberg, CEO of FXall said, "We are pleased to be working with the leader in TCA to leverage their knowledge and provide an additional service to our clients. Through this agreement, we can now provide independent insight for institutions to make better trading decisions."
This new product allows customers to target specific analytical segments such as currency pair and transaction type in order to gain the most insight into diverse execution strategies. ITG TCA for FX gives clients comprehensive foreign exchange analysis tools to empower cost-effective decision making.