The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Post-trade benchmarking

Wallstreet Systems recently sent out a white paper written by McLagan (Z/YEN). This has attempted to provide a proper analysis to the true cost per trade and suggest a methodology for benchmarking straight-through-processing rates. The report was commissioned as part of Wallstreet’s marketing for its Electronic Settlement Network (ESN), which was announced in October

Obviously, the report does help underpin the logic of ESN, but it also serves a wider purpose and makes interesting reading. “We wanted something to verify our value proposition. It’s the first stab in getting an industry-wide methodology approved,” says Tony White, managing director of Wallstreet Systems.

Wallstreet had found that there were wide discrepancies in how people measured their cost per trade. “Everybody was talking apples and oranges here. The big guys have been involved in studies and peer assessments, but once you get out of the Euromoney top 20, some banks were adding stuff in that others were leaving out and vice-versa. What we wanted to do was to come up with a correct methodology that anyone should apply when calculating this so they could compare like with like,” adds White.

The report will be discussed more fully in the January issue of Euromoney.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree