Societe Generale partners with BestX on FX transaction cost analysis

Societe Generale Corporate & Investment Banking (SG CIB) today announced a partnership with the fintech company BestX, independent transaction cost analysis (TCA) provider for algo-FX spot execution.

SG CIB has developed its own FX algorithmic execution tools, allowing clients to trade directly in the market in a controlled way. The partnership with BestX enables clients to assess the costs and execution performance of their FX transactions through an analytical framework. In addition, clients can benefit from access to a unique set of analytics, which will measure many aspects of execution performance, including spread & impact costs and signalling risk.

Keith Hill, Global Co-Head of e-FX Sales at Societe Generale Corporate & Investment Banking commented: “We are very excited about this partnership which reinforces our commitment to deliver best-in-class execution for clients. BestX’s third-party evaluation to measure performance can help our clients make better informed decisions when choosing an FX algo provider. Furthermore, BestX’s analytics can help clients assess many aspects of the execution workflow, which all contributes to raising industry standards and offering clients best-in-class solutions.”

Pete Eggleston, Co-Founder of BestX, said: “We are delighted that Societe Generale CIB have chosen BestX as their independent TCA provider. It is another important step towards our goal of delivering the industry with an independent, consistent and unbiased analytical framework with which to measure execution performance. The increasingly complex market structure within FX, and the multitude of execution options and products now available, is making the need for a rigorous industry standard ever more important.”