BBH adds FX TCA vendor, BestX®, to enhance Currency Hedging program transparency

November 18, 2024
  • Investor Services
New integration provides asset managers with independent execution analysis

BBH today announced its partnership with leading third-party Foreign Exchange Transaction Cost Analysis (“FX TCA”) vendor BestX® (“BestX”), enabling BBH to provide its Currency Administration platform users with independent Transaction Cost Analysis (“TCA”). This strategic addition will expand transparency through independent execution analysis, adding to the efficiency of BBH’s existing FX hedging solutions which include multi-bank agency execution and robust performance analytics.

Launched in 2016, BestX provides pre and post-trade analytics. The integration of BestX’s TCA offering into BBH’s Currency Administration solution empowers clients with comprehensive insights into their FX hedging transactions. In combination with the advanced analytics and reporting in FX HedgeHub™, BBH’s online FX reporting platform, clients will now gain additional oversight into the effectiveness of their FX hedging program with:

  • Enhanced Transparency and Precision: Receipt of detailed reports with an independent view on transaction costs enables managers to assess execution quality with greater precision.
  • Improved Execution Quality: Multi-bank competitive dealing reduces the impact of market volatility and enhances overall execution performance.
  • Comprehensive Performance Analytics: Robust performance analytics and attribution tools, now augmented with third-party FX TCA capabilities, offer a holistic view of FX hedging impacts, facilitating data-driven decision making and validation of results.

“Today’s dynamic market environment requires managers to have the highest level of transparency and control over their FX hedging strategies,” said Mike Carney, Global Head of Currency Administration and FX Agency Execution. “Our integration of BestX reflects BBH’s dedication to continually innovate. Clients can now obtain an objective view of their execution quality, continue to measure–in real time–the effectiveness of their hedging methodology, and make informed decisions regarding the implementation of their hedging program.”

“Over the past couple of years, we have seen increased demand from our existing clients to integrate to Overlay and Currency Management providers” said Yusuf Nurbhai, Head of BestX. “We very much welcome this partnership, as it not only provides a competitive advantage to the sell-side offering the service but also delivers increased oversight to the buy-side and drives transparency in the FX market as a whole."

For more information about BBH’s FX hedging solutions and the benefits of our integrated third-party FX TCA solution, please contact Mike Carney at michael.carney@bbh.com.

About Brown Brothers Harriman

Brown Brothers Harriman (BBH) is a global financial services firm known for premium service and specialist expertise. We have a 200-year track record helping clients innovate and navigate complex financial markets. Our 6,000 employees serve clients and their investments in over 90 markets from BBH’s 18 offices. As a private partnership, we are uniquely built to put clients first and create success that lasts.

BBH Investor Services is a leading provider of asset servicing and operating model solutions to global asset managers and financial institutions. Our asset servicing solutions include custody, global tax services, depositary and trustee, accounting, administration, transfer agency, foreign exchange, and securities lending. Our operating model solutions solve platform, data, and connectivity challenges across open-architecture operating models. We support our clients’ growth, enhance operational efficiency and resiliency, and streamline reporting and oversight. Please visit bbh.com to learn more and meet our team.

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