TCA vendors link FX counterparty selection with execution
Services from BestX and Tradefeedr aim to automate the pre-trade and execution process
BestX and Tradefeedr, the two main third-party transaction cost analysis (TCA) providers, have launched tools that enable buy-side firms to standardise and automate counterparty selection for cash foreign exchange trades, ahead of request-for-quote or algorithmic execution.
The launches are part of a wider push by asset managers to integrate TCA into their trading workflows to help meet best execution rules, which require asset managers to justify how they select their counterparties and their
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