Forex ECN FastMatch has announced the launch of a new feature called FX Tape.
According to FastMatch, FX Tape will improve post‐trade transparency in FX markets and allow market participants to monetize their trading data. FX Tape will also serve as a central reference point for Spot FX transacted prices, helping market participants evaluate best execution performance.
Dmitri Galinov, CEO FastMatch
Dmitri Galinov, CEO of FastMatch said:
FX Tape is a significant stepping stone to building a more transparent market globally while providing a way for market participants to monetize their trade data. This product is the culmination of three years of dedicated effort.
FX Tape will publish real‐time post‐trade information collected from market participants in aggregated and delayed fashion to minimize market impact. This product will be available for distribution to thousands of market participants and vendors across the world via FastMatch’s and Euronext’s distribution networks.
The FX Tape will be open to all contributors under an open access model with a percentage of the net revenue generated by FX Tape shared with contributors, according to the volume contributed.
FastMatch is a unit of pan-European exchange group Euronext NV (EPA:ENX). Euronext bought FastMatch for $153 million earlier this year from the FXCM unit of Global Brokerage Inc (NASDAQ:GLBR), and commercial banks Credit Suisse Group AG (ADR) (NYSE:CS) and BNY Mellon Corp (NYSE:BK).