FX timestamping progress ticks on, slowly

Foreign exchange market participants are making slow progress on standardising the timestamps they use to conduct transaction cost analysis (TCA) across the market, though progress has been hampered by a lack of urgency around tackling the issue.

“It’s definitely an important issue for the FX market, but it’s not been deemed a ‘critical for business as usual’ type of important,” says Priyank Bhushan, product manager of FX, cash and listed derivatives at the order- and execution-management