To support its European and Middle Eastern clients in monitoring the activities of their custodian banks, Mercer has entered into an agreement with Abel Noser Solutions (ANS), to offer its Foreign Exchange Trade Cost Analysis (FX TCA) solution.
An increasing number of institutional investors employ Mercer Sentinel to undertake regular monitoring of their custodian, and the FX TCA component forms a key part of this service. It can be very difficult to know whether a custodian is performing adequately and Mercer’s service addresses this directly by providing clear independent oversight. The Mercer FX monitoring service will help investors understand if their custodians and investment managers have undertaken their currency trades at rates that are in line with or outside of reasonable tolerances. The service will be available both on a stand-alone basis or as part of Mercer’s full custodian monitoring service.
“The Mercer Sentinel monitoring service provides clear analysis and recommendations on how to address current excessive costs and prevent recurrence,” said John Elmore-Jones, European Director of Mercer Sentinel. “At Mercer, we are committed to giving our clients a competitive edge through access to the best research, analytics and advice. We believe that ANS’ high quality data analysis will enhance our existing offering and will prove invaluable to our clients so they know what hidden costs they are incurring.”
Mercer will use data from ANS’ Trade-Zoom™ software to measure the FX trading performance of its clients’ custodians, managers and associated brokers. The solution allows users to view both absolute and relative peer cost comparisons based on industry standard metrics.
“Mercer’s decision to use ANS’s solution reflects the quality of our offering and the reputation we’ve built as a pioneer in trade analytics,” said Ted Morgan, Chief Operating Officer of Abel Noser Solutions. “Foreign exchange, which is traded over-the-counter and largely unregulated, remains one of the least transparent financial markets. In the wake of regulatory bodies fining several banks for FX market manipulation, clients are increasingly scrutinising trade analytics to ensure their custodial banks are acting in their best interests.”
Notes to Editors
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset – their people. Mercer’s more than 20,000 employees are based in more than 40 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With 57,000 employees worldwide and annual revenue exceeding $13 billion, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @MercerInsights.
About Abel Noser Solutions
A sister company to Abel/Noser Corp., Abel Noser Solutions was launched in 2007 to pioneer new trading methods, and to provide broker-neutral pre-trade, real-time and post-trade tools to institutional investors. Each day the company collects data from over 500 firms, and records trading data representing over €15 trillion per annum in global currency and equity markets combined, to provide one of the most comprehensive views of the industry. Further clients receive actionable analysis at every point in the trade lifecycle through executive summary and detailed analysis.