Refinitiv FXall releases platform spread data
Financial markets data provider Refinitiv has announced that its FX ECN unit FXall has made spread data from its platform directly available to institutional FX clients. The company said it was taking this step as part of its Trade Performance Analytics (TPA) solution, to help buy-side traders navigate challenging FX market conditions in the wake of the COVID-19 crisis.
Buy-side traders on Refinitiv FXall rely on Trade Performance Analytics, the web-based and self-service trade analytics platform, to assess their historical trading performance, quantify transaction costs, and enhance their provider selection.
“Refinitiv FXall is committed to offering market participants the data, insights and analytics they need to make better informed decisions,” said Jill Sigelbaum, head of FXall, Refinitiv. “Our clients can now conduct detailed analysis of weekly spreads across Refinitiv FXall’s market-leading RFQ platform, and customize their analysis as needed to look at specific instrument types and currency pairs”.
This analysis of overall market spreads complements an already-large suite of analytics that enable traders to quantify their spread costs. Buy-side traders on Refinitiv FXall can, for example, monitor the spreads they were quoted by their panel of liquidity providers and see how spreads widen or tighten depending on the number of providers in their panel, as well as quantify and compare the spreads quoted by specific liquidity providers.
FXall has a client base of over 2,300 buy-side clients and over 200 leading FX banks and alternative market makers.
FXall was acquired by Thomson Reuters for $625 million in 2012. After Thomson Reuters sold a majority stake in its Financial & Risk unit to private equity firm Blackstone Group LP in 2018, the new business, now called Refinitiv, became the owner of FXall. In August 2019 Refinitiv agreed to be acquired by the London Stock Exchange Group plc for $27 billion. That transaction is expected to close in the second half of 2020.