Cürex Group Announces Agreement with Siemens Group to License Cipher Data Analytics Platform
The Cürex Group, a New York City-based institutional foreign exchange execution services and data analytics company, today announces an agreement with Siemens to provide it with advanced pre- and post-trade data analytics through Cürex’s CipherSM platform.
Siemens and Cürex have maintained an FX trading relationship since Cürex introduced its unique, no-last look ECN and executable FTSE Russell/Cürex FX Benchmarks. As a leader and promoter of best execution practices, Siemens has supported Cürex’s efforts to bring greater transparency and fairness to the buy side community. Siemens’ decision to employ Cipher will help them better manage their FX trading decisions, lower their trading costs and improve their trading outcomes. Siemens has also agreed to provide input to Cürex in the future as it introduces additional tools and enhancements to the Cipher platform.
Cürex introduced Cipher in mid-2021. Cipher comprises comprehensive pre- and post-trade analytics, as well as real-time analytics that are available to customers who execute their algo trades in Cürex’s 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, “Siemens is a sophisticated and valued client. They have supported our efforts to improve the buy side’s trading outcomes in a marketplace where there is minimal support to achieve such outcomes. Their decision to use Cipher underscores the value of Cipher’s streaming analytical content. Our data drives better insights compared to the alternatives available through other providers. We are grateful for Siemens’ endorsement of our platform and our best execution efforts.”
Peter Rathgeb, Group Treasurer for Siemens, added, “In today’s fast changing environment, digitalization and interdisciplinary collaboration are key drivers of innovation and business success. Our longstanding partnership with Cürex led to the development of a unique and independent trading analytics platform that will help us monitor and achieve best execution protocols and further transparency in our FX trading activities. We are pleased to continue to build our relationship with Cürex and support their efforts to improve trading outcomes for the buy side.”
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
Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, helping them to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.
In fiscal 2021, which ended on September 30, 2021, the Siemens Group generated revenue of €62.3 billion and net income of €6.7 billion. As of September 30, 2021, the company had around 303,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Saul Sarrett, email@example.com or (212) 488-4177
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NTT Opens Its First Data Center In Spain24.5.2022 13:49:00 EEST | Press release
NTT Ltd., a world-leading global technology services provider, continues its expansion plans by opening its first data center location in the Spanish market in Madrid. The high-availability, Tier 3-compliant colocation data center is located on NTT's Európolis Business and Technology Park site 20km northwest of Madrid. It provides hyperscalers as well as enterprise clients with 3,600m2 of IT space and a maximum IT capacity of 6.3MW when fully built out. NTT is currently massively expanding its data center capacities worldwide. The company attaches the greatest importance to creating a highly available, secure and sustainable infrastructure. At the Madrid site, the entire cooling concept of the data center was adapted to the warm climate of central Spain: air-cooled chillers and higher cooling water temperatures reduce power consumption and ensure efficient operation of the facility. NTT’s first major client installation in the facility is powered entirely by renewable energy. Companies
Eaton’s eMobility Business Introduces Battery Disconnect Unit Featuring Updated Breaktor® Circuit Protection Technology24.5.2022 13:30:00 EEST | Press release
Power management company Eaton today announced its eMobility business has introduced a battery disconnect unit (BDU) that can be combined with upgraded Breaktor® circuit protection technology to provide circuit protection in electrified vehicles (EVs) while reducing overall complexity and cost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005297/en/ Eaton’s battery disconnect unit combined with Breaktor® circuit protection technology provides circuit protection in electrified vehicles while reducing overall complexity and cost. (Photo: Business Wire) When paired with the Breaktor circuit protection technology, which combines current switching and resettable bidirectional short-circuit protection with fast actuation, Eaton’s BDU eliminates the need for up to 15 additional system components. Traditional systems require a combination of pyro and thermal fuses and contactors. “As manufacturers continue to increase the po
Asda Selects Blue Yonder’s Order Management to Accelerate its Omni-Channel Transformation24.5.2022 13:00:00 EEST | Press release
Having selected Blue Yonder last year to digitally transform its end-to-end supply chain and retail operations, Asda, one of Britain’s leading retailers with a unique position in the market, is continuing its retail transformation journey with Blue Yonder by selecting Luminate® Commerce solutions to modernize its order management capabilities. Asda will also partner with Bringg, a Blue Yonder technology alliance partner and the leading delivery and fulfillment cloud platform, to make each element of the supply chain seamless, connected and orchestrated. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220524005263/en/ Asda consists of supercenters, superstores, and smaller supermarkets. The retailer also runs petrol filling stations and Asda Living stores, which offer its popular George clothing and home merchandise lines. The company employs more than 140,000 colleagues serving more than 16 million customers who shop in its s
Hurricane Electric Expands Global Network to The Albanian Internet Exchange 24.5.2022 12:20:00 EEST | Press release
Hurricane Electric, the world’s largest IPv6-native Internet backbone announced today that it has further expanded its presence in Southeastern Europe by connecting to the Albanian Neutral Internet eXchange (ANIX). ANIX is the first neutral and not-for-profit Internet Exchange point in Albania and is hosted and managed by Namex in the carrier-grade data center of RASH, the Albanian Academic Network, in Tirana. ANIX went live in March 2018. Prior to the establishment of ANIX, traffic between Albanian endpoints had to pass through foreign countries. ISPs throughout Albania and the world come to ANIX to interconnect their networks. Hurricane Electric’s presence in ANIX will provide reduced latency and improved fault tolerance, load balancing and congestion management infrastructure. The added direct connectivity paths also increase the reach of Hurricane Electric’s next-generation (IPv6) Internet infrastructure and services. Additionally, ANIX members can now exchange IP traffic, or “peer
Robeco Leverages Goldman Sachs Pre-Trade Analytics via FlexTRADER EMS24.5.2022 11:30:00 EEST | Press release
FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, today announced Robeco are live and in production using Goldman Sachs pre-trade cluster analytics and market impact estimates within FlexTRADER EMS. The move is designed to optimize the support for Robeco's best execution obligations. The Goldman Sachs Equity Clusters data set classifies each stock according to its individual market microstructure characteristics, using multiple factors derived directly from tick-level data, and organized via a semi-supervised learning approach. As a result, each stock can belong to one of 13 differently labelled clusters that provide a concise depiction of stocks’ intraday trading behavior. In conjunction with the clusters dataset, Goldman Sachs’ quantitative execution research team has revamped the modelling and calibration of their market impact estimates, applying an impact propagation framework that is cluster-aware, and offers significantly high
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom