State Street has launched a new decision augmentation tool leveraging BestX transaction cost analysis and its FX Connect trading platform to optimise clients trade execution.
Named BestXecutor, the new tool offers FX Connect clients actionable pre-trade analytics to optimise request-for-stream and algo execution, embedded into a client’s FX Connect workflow and integrated with its GlobalLink Digital platform.
According to State Street, BestXecutor is designed to help clients quickly evaluate every deal versus BestX TCA factors.
Other benefits of the tool include streamlined pre-trade decision making, workflow integration, and BestX analytics.
BestX consumes and stores over one billion price updates per day. Clients will be able to benefit from accurate TCA that is underpinned by comprehensive, representative and independent market data sources.
BestXecutor also offers flexible counterparty set-up and versatile application.
“Tap into our BestXecutor tool that works effectively for both Algo and RFQ trading, providing a comprehensive solution for buy-side traders. BestXecutor is designed to reduce your execution costs regardless of whether you trade RFQ/risk transfer or algo,” the firm said.