NCFX launches mid rates in forwards, NDFs and restricted currencies
The move is to meet obligatory PRIIPs rules that come into force on 1 January 2018, and NCFX are currently the only market data provider to meet the requirement…
New Change FX (NCFX) has extended its independent data service to include forward points across standard tenors, non-deliverable forwards and restricted currencies. Alongside the existing NCFX Spot service, this ensures that New Change FX is able to provide independent FX data for analysis of any FX deal.
Ahead of the implementation of the PRIIPs rules on 1st January 2018 it is obligatory for FX market users to obtain a consolidated feed of data that cannot be derived from a single dealer or platform. New Change FX are the only market data provider able to meet this requirement.
Andy Woolmer, CEO of New Change FX said: “MiFID II has been grabbing the headlines for FX market users, but it’s clear that many have missed the point that in fact PRIIPS contains the definition and standard for FX TCA. That standard demands that price measurement is conducted against an ex-ante consolidated mid rate that cannot be derived from a single dealer or platform. New Change FX are the only data provider to fulfil this PRIIPS requirement for FX market users, both for spot and forward rates.”