Consulting firm Mercer has entered into an agreement with Abel Noser Solutions (ANS), to offer its Foreign Exchange Trade Cost Analysis (FX TCA) solution.
Mercer aims to support its European and Middle Eastern clients in monitoring the activities of their custodian banks through the agreement, and the service will be available both on a stand-alone basis or as part of Mercer’s full custodian monitoring service.
The Mercer FX monitoring service will help investors understand if their custodians and investment managers have undertaken their currency trades at rates that are in line with or outside of reasonable tolerances.
John Elmore-Jones, European director of Mercer Sentinel, says the data analysis provided by ANS will enhance Mercer’s offering by allowing the firm to measure the FX trading performance of its clients’ custodians, managers and associated brokers.
Ted Morgan, chief operating officer of ANS, adds: “Foreign exchange, which is traded over-the-counter and largely unregulated, remains one of the least transparent financial markets. In the wake of regulatory bodies fining several banks for FX market manipulation, clients are increasingly scrutinising trade analytics to ensure their custodial banks are acting in their best interests.”
Mercer is a wholly owned subsidiary of global professional services Marsh & McLennan Companies.
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