A relatively young business, FX TCA is a strange animal. With so many different trading rates to choose from at given points in the day, the FX market is far more liquid than its equities equivalent, although the TCA approaches have, so far, closely followed the development of those commonly used for equities.
Over the past year, ITG's director of analytics, Jim Cochrane, has been busy educating its clients about the way ITG applies its TCA expertise to the FX market.
"I would have thought that
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