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News & Press: Latest News

EDM Council are pleased to welcome their new member New Change Currency Consultants

Friday, March 6, 2020  
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In 2006, the NCFX team were working elsewhere and realised that FX liquidity was an illusion. They were managing investment portfolios and wanted to know what the execution costs were without relying on their broker’s view. That simple idea proved surprisingly complicated. The data to measure a trade always came from the broker – but so did the trade. This meant they couldn’t rely on the cost calculation. Sometimes it was right, sometimes complete nonsense so it meant that they were never able to measure consistently. And if your measurement isn’t consistent then it’s no good as a measurement.

They left that job and decided to try and fix the problem.   They began aggregating FX data and in the summer of 2014, started publishing the first NCFX midrates. They still have that data, and every tick in between. They sell this data to banks and brokers, to corporations and investment managers, to asset owners, and even to other TCA providers.

 

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