Citadel Securities Inks FX TCA Deal

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Nonbank market maker Citadel Securities has partnered with startup foreign-exchange transaction cost analysis provider BestX to provide Citadel clients independent analysis of their FX trades.

“Quality execution and transparency are at the core of our client offering and partnering with BestX helps us demonstrate this,” said Kevin Kimmel, global head of eFX at Citadel Securities. “We have always supported transparency in the marketplace and view this partnership as another important step forward.”

The market maker has been raising its profile in eFX trading over the past year and more than doubled its average daily volume in 2016.

“Citadel Securities’ adoption of our FX Analytics moves BestX another significant step towards our goal of being the industry standard for FX TCA,”
Oliver Jerome,
Co-founder, BestX

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