Cürex Group Announces Agreement with CalPERS to License Cipher Data Analytics Platform
NEW YORK, NY, Jan. 17, 2023 (GLOBE NEWSWIRE) — via InvestorWire — The Cürex Group, a New York City-based institutional foreign exchange execution services and data analytics company, today announces an agreement with CalPERS to provide it with advanced pre- and post-trade data analytics through Cürex’s Cipher platform.
As a leader and promoter of best execution practices, CalPERS maintains a trading relationship with Cürex and has been a supporter of Cürex’s efforts to bring greater transparency and fairness to the buy side community. Employing Cipher will help CalPERS better manage their FX trading decisions, lower their trading costs and improve their trading outcomes. CalPERS will continue to provide input to Cürex in the future as it introduces additional tools and enhancements to the Cipher platform.
Cipher is a comprehensive pre- and post-trade analytics platform that includes real-time analytics available to customers who execute their algo trades in Cürex’s buy side-only liquidity pool. Cipher’s pre-trade suite includes a trade cost estimator, risk transfer price comparison and streaming volatility analysis, among other features. Cipher’s post-trade TCA allows customers to measure relative bank algo performance based on Cürex’s independently derived benchmarks, risk transfer comparison, slippage and performance against the market’s existing conditions at the inception of the client’s trading decision. Cipher’s ability to link post-trade outcomes with pre-trade conditions is fundamental to improving FX trading performance.
Commenting for Cürex, James Singleton, Chairman and CEO, said, “CalPERS is a longstanding leader in seeking to improve the buy side’s trading results across asset classes. We’re delighted that they are continuing these efforts through their decision to use Cipher and its valuable streaming analytical content. Cürex’s unique data drives better insights compared to the alternatives available through other providers. We are grateful for their endorsement of our platform and our best execution efforts.”
About Cürex Group
Cürex Group Holdings, LLC is a foreign exchange focused execution services and data analytics provider. Cürex operates an FX ECN with robust no last look liquidity and complete transparency. Our unique market and trading analytics delivers meaningful intelligence to our customers. Our FTSE Russell/ Cürex FX Benchmarks provide real time measurements to assess trading results and provide valuation metrics. Our mission is to work in partnership with our clients to add unparalleled clarity to all their foreign exchange activities. Cürex is headquartered in New York City and independently owned and operated. For more information, visit www.curexgroup.com
For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 2 million members in the CalPERS retirement system and administers benefits for more than 1.5 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS’ total fund market value currently stands at approximately $443 billion. For more information, visit www.calpers.ca.gov.
Media Contact: Saul Sarrett, [email protected] or (212) 488-4177