Funds Europe Sibos preview: What’s happening at Sibos this year?

Experts from asset servicing, technology and post-trade services speak to Funds Europe about issues likely to emerge at the Sibos post-trade conference, held in London from 23-26 September. Among them Pete Eggleston, Director, BestX (State Street):

What is the asset management industry doing to fine-tune trading data and improve transaction cost analysis?

“The use of data to help improve the execution process within the FX market has increased significantly in recent years. There are multiple use cases, covering all aspects of the trade lifecycle from pre-trade, through the execution itself – in terms of helping traders make more informed decisions – and post-trade analysis. Decision-makers can be deluged with too much data, especially if it is not delivered in an easily digested and intuitive format. The topic is evolving rapidly, not simply around ‘big data’ but how to turn this into actionable ‘smart data’.

Key to helping the industry with this challenge is to deliver rigorous analytics, packaged and summarised in an intuitive, interactive and visual web-based user interface. The software is designed to allow a fund manager to codify their best execution policy, specifying the execution factors that are relevant for their business and execution style, together with user-defined, systematic outlier detection and monitoring. In State Street’s latest product upgrade, a new Peer Analysis module was included for the buy-side, which allows clients to opt in and share their performance data in an anonymous, community data pool, providing the basis for relative comparisons of performance against their peers.

The foreign exchange and fixed income best-execution analytics platform is used extensively by liquidity providers and effectively delivers a utility to the industry (i.e. a level playing field comprised of a common language of methodology and metrics). This provides the market with a standardised platform – a key challenge in any over-the-counter market – enabling meaningful and positive interactions between liquidity takers and providers.”