Citadel to Give FX Clients Outside Check on Trade Results
- Market maker to provide independent trade analysis via BestX
- Measurements will include transaction costs, market impact
The New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Citadel Securities LLC, the electronic market maker founded by Kenneth Griffin, wants to give clients a closer look at its foreign-exchange trades.
The company, which said it more than doubled its currency volumes last year, plans to give clients an independent check on their FX deals. For customers who opt in, Citadel Securities will send trading data to BestX, a technology and analytics firm, which will crunch the numbers, measure transaction costs and market impact, and send results to the client.