BestX unveils Fill Position metrics

BestX has rolled out a new fill position metric for FX traders, a product that the firm believes adds another valuable dimension to analysing the performance of algos.

First Published by e-Forex News: April, 2020

BestX has rolled out a new fill position metric for FX traders, a product that the firm believes adds another valuable dimension to analysing the performance of algos. To compute the metric, BestX takes tick data during the execution window and then compares that to the prices hit by the algo, thus enabling the firm to see when and where the algo actually did hit the best available price. The metric is likely to prove valuable to both buy and sell side as the former have additional insight into their execution quality, while the latter can use the metric to recalibrate their algos.