New Change FX (NCFX), an independent data and analytics business, has joined IOWA.rocks, a new financial data marketplace.
NCFX enables market participants who require objective trade cost measurement capabilities to quickly and easily calculate all related expenses against a recognised and registered independent data feed. They are the only ESMA approved and FCA authorised administrator of live spot FX benchmarks for the FX market. Operating under the EU Benchmark Regulation 2016/1011, NCFX delivers quality and credibility at an affordable price.
NCFX data is created by aggregating aggregated live market bids and offers in real time. Only data at ‘institutional’ size is taken to avoid using information from ‘fishing’ orders to create an accurate mid-rate that reflects the live market mid. Unlike other providers, NCFX benchmark rates are calculated 20 times a second enabling all users to transact with confidence, safe in the knowledge they are not exposed to unverified benchmarks that are calculated far less frequently. Data accuracy and speed to market provides NCFX’s clients with a significantly improved competitive advantage as FX execution can happen immediately, rather than having to wait for delayed ‘fixing’ windows. This provides both investors and their executing banks with unrivalled flexibility to do better, more lucrative business.
Darren Bishop (pictured), Chief Revenue Officer for IOWA.rocks, says: “In this highly regulated and volatile world of FX trading, speed, accuracy and price transparency are essential requirements. NCFX is the recognised industry leader in this space, which given the sheer size of the FX market and diverse makeup of participants is why we are delighted that they have decided to join our ever-growing IOWA.rocks community. This important relationship takes us a step further in helping to realise our stated goal which is to liberate the industry from the restrictions of outdated technologies and working practises. IOWA.rocks enables smart content providers to seamlessly connect with the new world data consumers who are increasingly demanding more choice, flexibility and above all, value for money.”
Andy Woolmer, NCFX CEO, says: “The FX market is the largest sector across the global financial services industry and the demographics are changing as the number of private individuals throughout the world who are actively involved in trading is on the rise. This means the FX markets are no longer the exclusive domain of the traditional institutional investors as the cost implications for the trader on the street, who also need the same crystal clear clarity on this important point, as the financial firms, large corporates and governments bodies. Our vision is very simple: Create a completely transparent environment so that everyone who trades understands the true cost of every FX transaction, has the ability to choose how, and where, they access this information and more importantly, what they pay. We embrace innovation and believe that teaming up with IOWA.rocks will support our ambitious business development goals which are to extend our global reach and enable all industry participants, wherever and whoever they are, to benefit from the peace of mind, invaluable insights and cost savings the NCFX offerings deliver.”