DATA & ANALYTICS
Execution analytics
Transaction cost analysis
Benchmarking
Other associated services:
As the buy side adjusts to mandated “best execution” practices, those institutions require data analytics that enable them to perform a “market check” before they trade and deliver proof of best execution that satisfies their fiduciary obligations and the requirements of MiFID II. Such important regulatory requirements can only be met when pure, accurate data is being used in the analysis. Cürex’s data, and therefore our data analytics, is completely unique because it consists of entirely executable bids and offers, compared to the indicative and “last look” data used by others. Today there are no adequate third party providers of pre-trade support. Cürex has built a robust and reliable pre-trade suite of data analytics that meet the buy side’s “market check” requirements of MiFID II. Every Cürex customer has access to these important analytical tools. In summary, Cürex supports the buy side with:
- Pre-trade analytics that inform our customers of prevailing market conditions for better risk decision making
- Comprehensive metrics that support the requirement for proof of “best execution” under MiFID II
- Post-trade analytics that prove that the price achieved was the best price available in the Cürex multi-contributor pool, and an audit tied to the FTSE/Cürex Benchmarks
Cürex works in partnership with FTSE Russell to publish the FTSE/Cürex FX Benchmark and Index Series. These benchmarks are streaming calculations of currency values and also include 15-minute snap benchmarks available throughout the 24-hour day. The FTSE/Cürex benchmarks are fully executable on the Cürex ECN. Our partnership with FTSE Russell began in 2012 when the benchmarks were first published as a meaningful alternative to the antiquated point-in-time Fix benchmarks that dominated the FX marketplace.
