RBC Investor & Treasury Services (RBC I&TS) has launched a new FX transaction cost analysis (TCA) service for currency overlay services (COS) clients.
The service uses analytical technology provided by BestX, which provides the industry standard for FX TCA and operates autonomously from any liquidity provider or execution venue.
RBC I&TS COS clients will be provided with independent FX TCA reporting to oversee and assess the execution quality of their COS transactions.
COS is available on a custody or standalone basis, as a product within RBC I&TS’ overall suite of FX and outsourced solutions for asset owners and asset managers globally.
According to COS, its clients will benefit from BestX’s analytical technology and reporting, providing independent transparency on trade execution performance.
Mark Hogg, head of currency overlay services at RBC I&TS, says: “The partnership with BestX demonstrates our ongoing commitment to providing market-leading client experiences and raising the bar on execution transparency. It also shows how we continue to provide clients with innovative and differentiated solutions and help them meet their oversight requirements.”
Ollie Jerome, co-founder of BestX, comments: “We are delighted to further expand our partnership with RBC and to be able to work more closely with such forward-looking business owners.”
“As the demand for transparency permeates through all layers of the FX market, BestX will work hard to help RBC continue to differentiate themselves through the provision of independent validation of the quality of their execution,” adds Jerome.
.jpg)