FX Analytics Firm BestX Acquired by State Street Corporation

[kreslik.news]

State Street Corporation (NYSE: STT), a global custody bank and financial service provider for institutional investors, has acquired London-based FX analytics specialist BestX in a bid to enhance its services in the electronic foreign exchange markets. The financial terms of the deal were not disclosed.

BestX was founded by former Morgan Stanley executives in 2016 to offer post-trade transaction cost analysis for spot FX, forwards, NDFs and FX swaps. Later in 2017, the best execution firm has went live with pre-trade analysis functionality, as well as TCA for vanilla FX options.

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