The following survey was conducted during 2020 by FX Transparency (FXT) staff. The objective was to determine how prevalent the use of FX Transaction Cost Analysis (FX TCA) is amongst the Institutional Asset Owner community.
FXT surveyed asset owners with $1 billion or more in assets under management and received responses from 375 firms that included Pension Funds, Sub-Advisor Complexes/Mutual Funds, and Endowments.
FX TCA is used by Buy-Side firms to comply with fiduciary responsibilities as well as regulatory requirements such as MiFID II, PRIIPs and the FX Global Code of conduct. FX TCA helps fiduciaries demonstrate efforts to achieve best execution in foreign exchange, as well as improve operational efficiencies. For here for Asset Owner Survey 2020