We believe that all participants in financial markets should be able to transact at a reasonable price, and in a way that enables them to maintain a sustainable business in the future.
Of course this means that consumers of liquidity should not expect to pay too much to transact. Perhaps less obviously it also implies that they shouldn’t expect to pay too little; they should probably be seeking to identify situations where that might be the case - and asking why.
Equally importantly they should understand the impact that trading behaviour has on execution costs - both their own and that of their counterparties.
Whether it be measuring the explicit and implicit costs of trading on risk transfer prices, quantifying the cost of Last Look or systematically and rigorously comparing algorithms, we aim to bring clarity and understanding to all through powerful analytics and transparent, independent data.
FairXchange is completely independent and has no affiliation with any execution venues or liquidity providers.