TCA and fair Execution: The metrics that the FX industry must use

$48/m – price improvement – an advantage of trading on firm liquidity
$25/m the cost of last look hold time at 100ms;
$15/m the cost of hold time at only 10ms

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Video commentary by David Mercer, LMAX Exchange CEO

You want more numbers:
Hold time costs measured at up to $336/m
ZERO price improvement on ‘last look’ feeds
Fill rates increased by 7% at no net cost to the customer from 92% to 99% fills by trading improvement for fill rate

These are just some of the numbers available in our new TCA white paper just published today

TCA and fair Execution: The metrics that the FX industry must use’ is an 84 page analysis and comparison of common FX execution quality metrics across ‘last look’ and firm liquidity.

 

It’s a white paper to equip clients, ALL clients, with an effective evaluation of their cost of trading and quality of execution.

In it we examine 5 key metrics:

  • Fill ratio
  • Price variation
  • Hold time
  • Spread
  • Market impact

This report brings TCA out of the shadows and illuminates the stark choice for customers which is the current ‘confusion and opacity’ or ……………     the brave new world of ‘simplicity and transparency’.

Download a copy of the white paper today: LMAX.com/TCAwhitepaper and start creating the transparency we’ve all been talking about for far too long.

And if you have any questions or feedback please reach out to me directly on email [email protected] or social media. Or email the authors directly with your thoughts on [email protected]

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