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Foreign eXchange Consulting Services International (FXCSI) Introduces Self-Catered FX Transaction Cost Analysis Product
By: Marketwire .
Nov. 8, 2012 12:28 PM
TORONTO, CANADA -- (Marketwire) -- 11/08/12 -- Technology and Financial expert, FXCSI, has released a free post-trade FX Transition Cost Analysis Tool to allow users to quickly and easily generate their own FX TCA reporting.
"The goal of our product is to provide an easy-to-use service to support both the Buy-Side and Sell-Side of the FX market. We have created a tool that can be used for sales, marketing, client segmentation, supplier selection, performance measurement and compliance. We, at FXCSI, do not consult on the quality of the FX pricing, as we are, in no way, exposed to the supplier-client relationship; rather the role of FXCSI is to report independently on the FX cost to benchmark, irrespective of our user's role in the FX market", says FXCSI VP, Product Development, Mark VanRoon.
The FXCSI process has all the key hallmarks that will deliver a reliable benchmark. The process is completely transparent from formulae to methodology. Those who understand the complexities of FX TCA will understand the value of a tool that distils and simplifies information.
FXCSI's application allows users to create their own hierarchy complete with currency translations for the purpose of consolidated reporting at any node of interest in the enterprise. Using a proprietary method unique to the product, FXCSI is able to benchmark execution "time windows", a common practice among custodians. In addition to this, the FXCSI application "vectors" benchmark measurement by transaction size and currency pair to provide a comprehensive profile of transaction cost. This is particularly helpful for custodians and real money managers alike.
The product is expected to pass alpha testing by November 30, 2012 and be immediately beta-released on December 1, 2012.
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