Mercer has chosen Abel Noser Solutions to provide its foreign exchange trading analytics service for clients in Europe and the Middle East.
In a statement, the consultancy group said customers of its Mercer Sentinel division who wish to monitor their custodians and fund managers can now use the new FX TCA service.
John Elmore-Jones, european director of Mercer Sentinel, said it can be very difficult to know whether a custodian is performing adequately and said the new service will help investors understand if their custodians and fund managers have undertaken their currency trades at the best rates.
He explained: “The Mercer Sentinel monitoring service provides clear analysis and recommendations on how to address current excessive costs and prevent recurrence.
“We believe that Abel Noser Solutions’ data analysis will… prove invaluable to our clients so they know what hidden costs they are incurring.”
Ted Morgan, chief operating officer of Abel Noser Solutions, added: “Foreign exchange, which is traded over-the-counter and largely unregulated, remains one of the least transparent financial markets.
“In the wake of regulatory bodies fining several banks for FX market manipulation, clients are increasingly scrutinising trade analytics to ensure their custodial banks are acting in their best interests.”