Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Trading Technology

11:32 AM
Connect Directly

Abel Noser Unveils TCA To Combat FX Trade Costs

The transaction cost analysis provider says its clients are increasingly turning to TCA for FX.

As far as Abel Noser is concerned, the highly fragmented nature of FX liquidity has traditionally hurt the buy side's ability to achieve best execution in currency trading.

[Does TCA Really Work for the Buy Side?.]

In order to combat this, the firm announced the rollout of a transaction cost analysis tool it contends will enable buy-side trading firms to better measure the trading performance of their custodians, brokers and managers. In the long run, Abel Noser said its FX TCA platform will help its buy-side customers to quantify the costs they incur from cross-border trades and equip them to choose the best possible strategies.

"With recent currency-trading litigation against custodial banks and the current OTC regulatory environment, traders and investors are starting to demand more reliable and transparent methods to benchmark executions and costs," Abel Noser president James Noser said. "Our clients are increasingly performing TCA on their FX trading. They are often finding costs that dwarf those found in equity trading."

Abel Noser Chief Executive William Conlin added that with a growing number of firms now using TCA for FX, he wouldn't be surprised if currency trading costs fell, noting that such a drop would what happened in the equities trading world during the mid-1980s.

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio

Register for Wall Street & Technology Newsletters
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.