Nicholas Pratt
Nicholas Pratt

Performance analysis – new toolsets for improving the operational oversight of FX trading operations

New solutions that can deliver more granular analysis of FX trading activities are increasingly in demand from both buyside and sell-side firms. Nicholas Pratt examines some of the critical components of these services.

Participants in the FX market have always looked to analyse the performance of their trading strategies. After all, this is what they are ultimately judged on by their investors. But as trading becomes increasingly reliant on technology, it has become just as important to analyse the performance of the systems and tools used to implement the strategies.  New products and services are emerging aimed at improving firms’ operational oversight. There are visualisation tools aiming to give firms increased visibility into the performance of their FX trade lifecycles, liquidity streams, network architectures, software applications and managed trading infrastructures. There are also new ways to analyse real time market data feeds via metrics such as tick quality, relative latency, conflation and volume analysis. And there are methods for assessing the live performance of pricing information and the overall health of FIX engines and gateways. All of these different functions contribute to a...continued

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