Investment Technology Group (ITG), an agency broker and financial technology firm, has introduced a new offering ITG TCA for FX, in cooperation with an institutional foreign exchange trading platform FXall to quantify and evaluate foreign exchange transaction costs.

ITG TCA for FX allows clients to analyze foreign exchange trades versus several benchmarks and develop their execution strategies. It also allows institutions to validate the impact of different foreign exchange trading strategies with benchmark data from Fxall.

It has been adapted for the unique structure of the over-the-counter foreign exchange market to provide transparency. Multiple report options and an automated delivery process enable users to gain insight into how to select the most appropriate execution mechanisms given their requirements and market liquidity.

The new product allows customers to target specific analytical segments such as currency pair and transaction type in order to gain the most insight into diverse execution strategies. ITG TCA for FX gives clients comprehensive foreign exchange analysis tools to empower cost-effective decision making.

Ian Domowitz, managing director at ITG, said: The foreign exchange market is the largest and most liquid securities trading market, but arguably also the most challenging to trade in. ITG TCA for FX helps traders complete the trading process by measuring and comparing foreign exchange transaction costs with a comparable level of precision that is only available in the equity market.