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October 28th, 2016
by Jimmy McGeehan

The quest for financial market transparency continues, link below. Regulatory authorities globally, led by Europe (ESMA) & UK (FCA), have mandated oversight on transaction costs as a core requirement for all fiduciaries in a proper best execution framework. The mandate … Continue reading

Posted in Financial Regulation, FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


October 12th, 2016
by Jimmy McGeehan

FX Liquidity: The great disappearing act, GBP style October 7th Asian hours Upon review of our proprietary interbank market data in GBPUSD late Thursday US & UK/ early Friday Asia (23:07 GMT Oct. 6th / 07:07 HK Oct. 7th), it … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


October 5th, 2016
by Jimmy McGeehan

FCA proposals point governance liability directly at global investors. This proposal will be up for consultation until January 4, 2017. Throw in MiFID II best execution requirements drawing closer, firms will have a narrowing window to improve data collection and … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


July 27th, 2016
by Jimmy McGeehan

Rather than whining about the pending uncertainty post-Brexit, GE’s Jeff Immelt lays out an actionable plan. He has no choice, with significant revenue and operations globally he cannot let the prevailing political sentiment interfere with his quest to deliver value … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis |


July 21st, 2016
by Jimmy McGeehan

We are saddened to see another negative example of the OTC FX market splashed across the world’s leading newspapers. These two headlines below aptly demonstrate the strain the institutional currency market is under. The banks likely believe they have the … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis, Uncategorized |


December 15th, 2015
by Jimmy McGeehan

Independent buy-side market think tank, New City Initiative, released a paper today outlining excessive FX execution costs, with conservative estimates totaling 1.5 billion EUR for European asset managers. The paper calls for clear direction from regulators regarding new MiFID II … Continue reading

Posted in FX Best Execution Practices, FX Corporate Treasury, FX Transaction Cost Analysis |


October 14th, 2015
by Laura Lifland

My name is Laura Lifland, and I have recently joined forces with FX Transparency after spending 15 years as an FX salesperson at large commercial banks. After meeting with several institutional investors over the last week, there are a few … Continue reading

Posted in FX Best Execution Practices, FX Transaction Cost Analysis |


June 12th, 2015
by John Galanek

FX TCA should benefit from improved granularity as the Bank of England’s Fair and Effective Markets Review (FEMR) calls for time stamps to be recorded on every trade and “last look” provisions to be reviewed as part of their call … Continue reading

Posted in FX Best Execution Practices, FX Transaction Cost Analysis |


April 17th, 2015
by John Galanek

Alex Dunegan, Founder and CEO of Lumint Currency Management, discussed the value of FX TCA and said that quantifying implementation shortfall can lead to “operational alpha” in the currency process. He also highlighted the importance of using a third-party TCA … Continue reading

Posted in FX Best Execution Practices, FX Transaction Cost Analysis |


December 9th, 2014
by John Galanek

Changes were originally supposed to go into effect Sunday December 14th, but have been delayed to February 15th 2015. There will be two major changes to the current process: 1. The calculation window is being widened to 5 minutes from … Continue reading

Posted in FX Best Execution Practices, FX Transaction Cost Analysis |


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