The Cürex Group, a New York City-based institutional foreign exchange execution
Execution
Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a common marketing point of emphasis by brokers, whose action execution varies considerably from company to company. When execution prices are not matching the submitted price the client is charged or credited the difference resulting from the negative or positive slippage.Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. Best Execution a Legal ObligationBrokers are required by law to diver to their clients the best execution possible. Some regulators are requiring brokers to submit execution stats in order to assess the quality of their services. Other brokers are regularly posting execution statistics in order to boost the confidence of their clients in the best execution commitment of the company.Best execution has been a point of emphasis in recent years from both retail and institutional players in the FX industry. Negotiating and executing transactions in order to promote a robust, fair, open, liquid and appropriately transparent FX market is identified as one of the six main principles outlined in the FX Global Code of Conduct, which came into effect in 2018.
Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a common marketing point of emphasis by brokers, whose action execution varies considerably from company to company. When execution prices are not matching the submitted price the client is charged or credited the difference resulting from the negative or positive slippage.Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. Best Execution a Legal ObligationBrokers are required by law to diver to their clients the best execution possible. Some regulators are requiring brokers to submit execution stats in order to assess the quality of their services. Other brokers are regularly posting execution statistics in order to boost the confidence of their clients in the best execution commitment of the company.Best execution has been a point of emphasis in recent years from both retail and institutional players in the FX industry. Negotiating and executing transactions in order to promote a robust, fair, open, liquid and appropriately transparent FX market is identified as one of the six main principles outlined in the FX Global Code of Conduct, which came into effect in 2018.
Read this Term services and data analytics company, said on Wednesday that it reached an agreement with Siemens to provide it with advanced pre- and post-trade data analytics through Cürex’s Cipher platform.
According to the press release, Siemens and Cürex have maintained an FX trading relationship since Cürex introduced its FTSE Russell/Cürex FX Benchmarks. In mid-2021, Cürex introduced Cipher. In addition to comprehensive pre- and post-trade analytics, Cipher also offers real-time analytics to customers who execute their algo trades within Cürex’s liquidity pool. Cipher’s pre-trade suite includes trade cost estimators, risk transfer price comparisons, and streaming volatility analysis, among other features.
FX Trading in Cipher
Through Cipher’s post-trade TCA, customers can measure relative bank algo performance based on Cürex’s independently derived benchmarks, risk transfer comparison, slippage
Slippage
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won’t fill at a worse price.
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won’t fill at a worse price.
Read this Term, and performance against the market’s existing conditions at the time of the client’s trading decision. FX trading performance can be improved by Cipher’s ability to link post-trade outcomes with pre-trade conditions.
“Siemens is a sophisticated and valued client. They have supported our efforts to improve the buy side’s trading outcomes in a marketplace where there is minimal support to achieve such outcomes. Their decision to use Cipher underscores the value of Cipher’s streaming analytical content. Our data drives better insights compared to the alternatives available through other providers. We are grateful for Siemens’ endorsement of our platform and our best execution efforts,” James Singleton, Chairman and CEO of Cürex, commented.
Moreover, Peter Rathgeb, Group Treasurer for Siemens, added: “In today’s fast-changing environment, digitalization and interdisciplinary collaboration are key drivers of innovation and business success. Our longstanding partnership with Cürex led to the development of a unique and independent trading analytics platform that will help us monitor and achieve best execution protocols and further transparency in our FX trading activities. We are pleased to continue to build our relationship with Cürex and support their efforts to improve trading outcomes for the buy side.”
The Cürex Group, a New York City-based institutional foreign exchange execution
Execution
Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a common marketing point of emphasis by brokers, whose action execution varies considerably from company to company. When execution prices are not matching the submitted price the client is charged or credited the difference resulting from the negative or positive slippage.Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. Best Execution a Legal ObligationBrokers are required by law to diver to their clients the best execution possible. Some regulators are requiring brokers to submit execution stats in order to assess the quality of their services. Other brokers are regularly posting execution statistics in order to boost the confidence of their clients in the best execution commitment of the company.Best execution has been a point of emphasis in recent years from both retail and institutional players in the FX industry. Negotiating and executing transactions in order to promote a robust, fair, open, liquid and appropriately transparent FX market is identified as one of the six main principles outlined in the FX Global Code of Conduct, which came into effect in 2018.
Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a common marketing point of emphasis by brokers, whose action execution varies considerably from company to company. When execution prices are not matching the submitted price the client is charged or credited the difference resulting from the negative or positive slippage.Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. Best Execution a Legal ObligationBrokers are required by law to diver to their clients the best execution possible. Some regulators are requiring brokers to submit execution stats in order to assess the quality of their services. Other brokers are regularly posting execution statistics in order to boost the confidence of their clients in the best execution commitment of the company.Best execution has been a point of emphasis in recent years from both retail and institutional players in the FX industry. Negotiating and executing transactions in order to promote a robust, fair, open, liquid and appropriately transparent FX market is identified as one of the six main principles outlined in the FX Global Code of Conduct, which came into effect in 2018.
Read this Term services and data analytics company, said on Wednesday that it reached an agreement with Siemens to provide it with advanced pre- and post-trade data analytics through Cürex’s Cipher platform.
According to the press release, Siemens and Cürex have maintained an FX trading relationship since Cürex introduced its FTSE Russell/Cürex FX Benchmarks. In mid-2021, Cürex introduced Cipher. In addition to comprehensive pre- and post-trade analytics, Cipher also offers real-time analytics to customers who execute their algo trades within Cürex’s liquidity pool. Cipher’s pre-trade suite includes trade cost estimators, risk transfer price comparisons, and streaming volatility analysis, among other features.
FX Trading in Cipher
Through Cipher’s post-trade TCA, customers can measure relative bank algo performance based on Cürex’s independently derived benchmarks, risk transfer comparison, slippage
Slippage
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won’t fill at a worse price.
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won’t fill at a worse price.
Read this Term, and performance against the market’s existing conditions at the time of the client’s trading decision. FX trading performance can be improved by Cipher’s ability to link post-trade outcomes with pre-trade conditions.
“Siemens is a sophisticated and valued client. They have supported our efforts to improve the buy side’s trading outcomes in a marketplace where there is minimal support to achieve such outcomes. Their decision to use Cipher underscores the value of Cipher’s streaming analytical content. Our data drives better insights compared to the alternatives available through other providers. We are grateful for Siemens’ endorsement of our platform and our best execution efforts,” James Singleton, Chairman and CEO of Cürex, commented.
Moreover, Peter Rathgeb, Group Treasurer for Siemens, added: “In today’s fast-changing environment, digitalization and interdisciplinary collaboration are key drivers of innovation and business success. Our longstanding partnership with Cürex led to the development of a unique and independent trading analytics platform that will help us monitor and achieve best execution protocols and further transparency in our FX trading activities. We are pleased to continue to build our relationship with Cürex and support their efforts to improve trading outcomes for the buy side.”
Source: https://www.financemagnates.com/institutional-forex/curex-group-inks-deal-with-siemens-group/