BestX plans TCA expansion to liquid rates

Start-up foreign exchange analytics platform BestX is set to expand its transaction cost analysis tool in 2018 to fixed income markets, enabling participants to define and demonstrate best execution for liquid rates products in compliance with MiFID II.

The best execution firm, which was founded by former Morgan Stanley executives Pete Eggleston and Oliver Jerome, launched post-trade transaction cost analysis in September 2016 for spot FX, forwards, non-deliverable forwards and FX swaps. A pre-trade analysis tool was added at the start of this month, while TCA for vanilla FX options will be launched in the coming weeks.