BestX signs JP Morgan and HSBC as TCA clients

FX analytics firm partners two major dealers for third-party transaction cost analysis

Intelligent numbers: JP Morgan and HSBC say independent verification will showcase algo performance

Foreign exchange transaction cost analysis provider BestX has signed up two major dealers to provide third-party TCA for electronic and algorithmic trades to clients of both JP Morgan and HSBC via the banks' single-dealer platforms.

BestX, which was launched in March 2016 by ex-Morgan Stanley bankers Oliver Jerome and Peter Eggleston, is also understood to be on the brink of sealing similar partnership agreements with several other dealers, according to a source.

While both HSBC and JP Morgan

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