Peter Burton Head of marketing at Hotspot FX Inc.
Peter Burton Head of marketing at Hotspot FX Inc.

Institutional e-Forex: Beyond STP

Peter Burton discusses a portfolio approach to Best Execution in Foreign Exchange trading.

Many of the critical topics relating to best execution practices for asset managers, including benchmarking, centralized transparent price data, and transaction cost analysis, have traditionally had little or no practical application to foreign exchange trading. New electronic foreign exchange marketplaces, trading tools and market data products, which provide neutral, multi-contributor, real-time pricing and market transparency, are catalyzing the development of a robust analytical framework to determine execution performance and transaction cost measurements for foreign exchange trading similar to those used in traditional asset classes.The adoption of electronic foreign exchange trading among institutional asset managers has been driven in large part to attain operational efficiencies and error reduction offered by automation and straight-through-processing. Recently, however, sophisticated internally managed pension and endowment funds as well as leading asset managers are beginning to look further up the...continued

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