ITG and State Street integrate TCA with FX trading platform

Integration combines FX trading with TCA to measure best execution under MiFID II requirements.

ITG has integrated its transaction cost analysis (TCA) solution with State Street’s multi-bank foreign exchange trading platform, FX Connect.

The integration means institutional investors can use FX Connect and ITG TCA to analyse FX trading and “demonstrate best execution”, ITG said. 

The analysis covers spot, forward, swap, and non-deliverable forward swap transactions.

Ian Domowitz, managing director and head of analytics at ITG, explained that accurate FX trading data “is the foundation of effective FX TCA analysis.”

He added that the integration has created “an easy to use, powerful and flexible solution for institutional traders.”

State Street’s FX Connect now has over 500 customers, with 65 liquidity providers, executing trades in more than 300 currency pairs.