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    • Home
    • DATA PRODUCTS
    • ALGO PRODUCTS
    • Features & Benefits
    • Comparing Benchmarks
    • How it works
    • Insight & News
    • About Us
    • Contact Us
    • LinkedIn
    • Unsubscribe
    • Partners
    • Data Policy
  • Home
  • DATA PRODUCTS
  • ALGO PRODUCTS
  • Features & Benefits
  • Comparing Benchmarks
  • How it works
  • Insight & News
  • About Us
  • Contact Us
  • LinkedIn
  • Unsubscribe
  • Partners
  • Data Policy

COMPARING FX BENCHMARKS

How SIREN FX differs from established market benchmarks

Established FX market benchmarks

The Transparency Problem

 What did you really pay to execute on 4pm fix?


  • Asset owners and their asset managers are required to use consistent methodologies to value the inputs in and redemptions from their funds.


  • This involves using established benchmarks or ‘fixings’ to price and value this foreign exchange activity on a daily basis.


  • Due to their design, these benchmarks lack the transparency to identify the risk of market impact and manipulation.


  • As a result, asset owners are often unaware of the true cost of investment-related foreign exchange activity.


FX transparency problem

The Need for Transparency in FX Execution

 Global FX turnover has surged to nearly USD 7 trillion per day, underscoring the critical role of Foreign Exchange in global investment strategies 

The SIREN FX Solution At A Glance

Benchmark execution costs

Understand exactly what benchmark execution costs you


  • SIREN FX was created to address the structural issues outlined above in 'the transparency problem' by:
    • Providing a transparent methodology for calculating currency rates
    • Using FCA regulated and approved independent FX mid-rates, and
    • Protecting investors by offering a longer ‘window’ for market participants to reduce market impact (excess costs).


  • The SIREN FX data feed helps banks to execute more efficiently, by minimising tracking errors, and with reduced financial and regulatory risk. 


  • SIREN FX allows pension fund trustees and asset managers to better fulfil their fiduciary duties and best execution obligations.



Month End Analysis for 2024

Month End independent Overview from The Full FX
DECEMBER 2024NOVEMBER 2024OCTOBER 2024SEPTEMBER 2024AUGUST 2024JULY 2024JUNE 2024MAY 2024APRIL 2024March 2024FEBRUARY 2024january 2024

34 out of 35 funds analysed would have saved by switching

Request a SIREN study and we will provide you with an analysis of your fund to see if you could have saved money by switching to the SIREN FX 4pm fix

* SIREN FX is published by NCFX who are regulated and authorised as a benchmark administrator by the Financial Conduct Authority.

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