AUSTIN, Texas, May 9, 2018 /PRNewswire/ — S3 (“the Company”), a financial services software company providing innovative solutions to monitor and analyze trade execution for equities, options, and fixed income securities, today announced the launch of its FX-Aware (FXA) Best Execution Analytics platform, designed to provide cross-border order flow analytics between any two countries. By using the exact exchange rate available at the time of order placement and trade along with the price of execution in either currency, S3’s FXA compares the execution to the market availability in both countries.
S3 developed the FX-Aware Best Execution Analytics platform to fit the unique needs of clients trading cross-border order flow. FXA allows S3 customers to determine the execution quality of their cross-border executions versus the quoted market in both countries. The platform factors order and trade information for each potential cross-border trade, whether conducted in the foreign market or the domestic market, along with the FX rate available to the customer at order and trade time. FXA then compares each real execution against a theoretical execution for an equivalent trade in the other market. Additionally, the platform works with any equivalent security, including dual-listed, interlisted, ADRs and over-the-counter secondary listings. This depth of analysis provides critical information that firms use to understand in which market they will truly achieve best execution, and thereby make more informed cross-border trading decisions that factor in liquidity, price, size and currency fluctuations.
Mark Davies, CEO of S3, commented on today’s news, “Our FXA platform provides cross-border trading firms with greater transparency into those factors impacting cross-border execution destinations, allowing them to adjust their trading strategies to truly achieve best execution for themselves and their clients. I am proud to continue to provide innovation and transparency for the global trading landscape, thereby improving trust and promoting a fairer and better trading environment for all.”
The Company also disclosed today that it has signed a large Canadian cross-border broker-dealer to be the first to utilize FXA. The platform will initially be in use to provide analytics for execution in the Canadian market versus the US market, but the Company has plans to roll out in other foreign markets as well. The new client adds to S3’s impressive roster of Canadian bulge bracket banks and broker-dealers, as the Company continues to expand its global reach.
Mr. Davies continued, “The platform provides significant value to our substantial and growing Canadian customer base. As we continue to grow and expand our global operations, FXA will undoubtedly be a key driver for understanding and promoting cross-border order flow. Although we are beginning with the platform in the US and Canadian markets, it has been built to easily scale and to be replicable in other foreign markets.”
For more information please visit: www.S3.com.
S3 is a financial services software company that provides innovative solutions to monitor and analyze trade execution, facilitate transparency, and simplify regulatory compliance for options, equities, and fixed income securities. The Company’s products are used today by many of the world’s largest financial institutions, broker-dealers, exchanges, bulge bracket and retail banks, and market makers to deliver market structure analytics and best execution reporting. S3 leverages its proprietary software to provide third-party trade verification and optimize trade execution for both the U.S. and Canadian markets.
Jay Morakis (for S3)
M Group Strategic Communications