State Street Launches New FX Trading Tool

State Street has launched a new decision augmentation tool leveraging BestX transaction cost analysis and its FX Connect trading platform to optimize clients trade execution. Named BestXecutor, the new tool offers FX Connect clients actionable pre-trade analytics to optimize request-for-stream and algo execution, embedded into a client’s FX Connect workflow and integrated with its GlobalLink Digital platform. According to a story in The Trade news, BestXecutor is designed to help clients quickly evaluate every deal versus BestX TCA factors. Other benefits of the tool include streamlined pre-trade decision making, workflow integration, and BestX analytics. BestX consumes and stores over one billion price updates per day. Clients will be able to benefit from accurate TCA that is underpinned by comprehensive, representative and independent market data sources.

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