The Cürex Group has announced its agreement with FlexTrade Systems to integrate Cürex’s CipherSM FX analytics platform on the FlexTRADER EMS. The integration work underway between FlexTrade and Cürex will enable their buy side clients to seamlessly access the Cürex Cipher analytics platform through FlexTRADER. Cipher provides comprehensive pre‐ and post‐trade analytics, as well as real‐time analytics that are available to customers who execute their FX algo trades in Cürex’s liquidity pool. Cipher’s pre‐trade suite includes a trade cost estimator, risk transfer price comparison and streaming volatility analysis, among other features. Cipher’s post‐trade TCA allows customers to measure relative bank algo performance based on Cürex’s
independently derived benchmarks, risk transfer comparison, slippage and performance
against the market’s existing conditions at the inception of the client’s trading decision.
Cipher’s ability to link post‐trade outcomes with pre‐trade conditions is fundamental to
improving FX trading performance.
Commenting for Cürex, James Singleton, Chairman and CEO, said, “We are excited to
team up with FlexTrade to expand our distribution and give their clients access to our
proprietary Cipher FX analytics platform. We built Cipher in response to our clients’
demand for real‐time, actionable pre‐ and post‐trade analytical tools. Cipher’s analytics
suite is an indispensable tool for institutions seeking to understand and improve their FX