FX Transparency (FXT) is the leading independent provider of foreign exchange transaction cost analysis (FX TCA) and currency execution consulting services to institutional currency participants globally. Our firm was founded to help international investors around the world narrow the significant variances in currency execution quality.

Our mission is simple: Quantify and reduce FX trading costs for all currency market participants.

FXT’s unbiased analytics meets investor demands to monitor FX transaction costs to support their best execution efforts in foreign exchange and satisfy all stakeholders in their currency trading process.

FXT’s unique combination of independence, unparalleled currency domain expertise, the largest peer universe of buy-side trades, and actionable recommendations to improve execution quality with cutting edge technology make FXT the best and most trusted FX TCA technology globally.

There are three steps to satisfy stakeholders in your currency trading process:

Measure – Quantifying FX trading costs is the first step toward lowering them.
Monitor – Currency trading costs in 2018 will likely not be the same as 2017 and years prior.
Manage – Costs must be monitored in order to be managed.

Cost of Hedging Rises with the Pandemic

“Never waste a crisis”. The banks certainly haven’t, yet at the expense of asset owner & asset manager clients. Risk transfer, albeit small, is expensive in volatile times. Spreads in 1 month Aussie Swaps increase by 500 to 1000% since the onset of the CORVID 19 outbreak.…
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Bank of International Settlements leaning on buy-side to adopt FX Global Code and TCA’s implicit role:

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Are FX Netting Benefits Worth the Market Risk?

We often get the question, “Should we reduce the number of different execution and fixing times we leave up to our custodian to capture more netting?” We believe the answer is, “Yes, you should opt for fewer fixings and maximum netting over market moves.”…
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Interval Time Average Price (ITAP)

This paper details a solution to the absence of reliable volume weighted average price (VWAP) data in over-the-counter (OTC) foreign exchange markets. Download here.

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The Case for Mid-Market Rates in Over-the-Counter FX Transaction Cost Analysis

This paper asserts that the mid-market price should be the benchmark data set against which transaction costs are measured in OTC currency markets. Download the full paper here.

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With the largest universe of actual buy-side trades, you will know exactly how competitive your currency trading costs are relative to those of your peers.

We take into account every nuance of the FX market to make sure your trades receive an apples-to-apples comparison – swaps are compared to swaps, spot trades to spot trades, and Mexican Peso trades to Mexican Peso trades, all interpolated with sell-side precision to each trade’s value date.

FX Transparency provides Currency Execution Consulting to institutional investors and corporate treasurers designed to improve price transparency and reduce currency-trading costs.

Tap into our decades of currency risk management expertise to demystify the FX market’s opaque structure.

Learn transparent methods of execution designed to reduce costs even in restricted emerging markets.

Europe & Americas

FX Transparency, LLC
161 Worcester Road
Suite 604
Framingham, MA 01701

+1 508 283 5850

Americas:  [email protected]

Europe:  [email protected]


FX Transparency, LLC
585 Little Collins Street
Suite 140
Melbourne  3000

+61 4 1317 6164

[email protected]