FX spot market operator FastMatch has launched its FX tape designed to improve post-trade transparency and allow traders to monetise their trading data.
The FX tape will also act as a central reference point for spot FX transacted prices in order to help users evaluate best execution performance.
Real-time post-trade information will be collected and published via the tape in aggregated and delayed fashion to minimise market impact.
Dmitri Galinov, CEO of FastMatch, explained the FX tape is a “significant stepping stone to building a more transparent market globally while providing a way for market participants to monetise their trade data”.
Pan-European exchange Euronext acquired FastMatch in May for $153 million as the exchange operator looked to expand into global FX markets.
FastMatch was established in 2012 by Credit Suisse and FXCM and currently provides access to large pools of spot FX liquidity to banks, non-bank market makers, broker-dealers, asset managers and hedge funds.