Source: State Street
State Street Corporation (NYSE: STT) announced today FX Connect, its market-leading FX execution venue, will partner with trade technology software provider BestX in order to offer transaction cost analysis (TCA) solutions globally.
“With a continued emphasis on best execution driven by regulation, market participants are increasingly looking for holistic solutions to be compliant,” said David Newns, head of execution solutions for Global Link, State Street’s suite of e-trading platforms, technology, data and workflow solutions. “We are pleased to be partnering with BestX in order to provide just this with tailored solutions for our clients’ specific needs.”
“We are delighted to announce the integration of BestX into the FX Connect transaction workflow,” said Oliver Jerome, co-founder of BestX.. “FX Connect and BestX have many mutual clients, our platforms are extremely complementary to one another, and the potential benefits to the buy-side from this partnership are significant. This integration is a key milestone for us in the path to being the industry standard for FXTCA.”
FX Connect works with institutional trading firms that require efficient management of multiple portfolios, best execution and effective operational risk from pre to post-trade.
Contributed | what does this mean?