ACA Acquires FX Transparency

Governance and compliance services provider ACA Group says it has acquired FX Transparency in a transaction, the terms of which were not disclosed.

FX Transparency is an FX TCA and best execution advisory firm that first came into the market’s spotlight at launch in 2009 when it focused in on custodian FX costs, an issue that eventually led to a wider investigation into FX market practices and billions of dollars in fines for banks. ACA says the deal deepens its FX capabilities, which, it notes, is “one of the largest, most liquid, yet opaque” asset classes.

The firm adds that FX TCA plays a critical role in helping institutional investors manage trading costs, assess counterparty performance, and satisfy increasing regulatory expectations regarding best execution. “As global trading volumes and regulatory scrutiny continue to rise, firms require sophisticated analytics to evaluate liquidity sourcing, execution methodologies, and counterparty selection in FX markets,” it states.

Patrick Olson, CEO of ACA Group, says, “Following our successful acquisition of Global Trading Analytics [in 2025], we identified FXT as a complementary platform that brings recognised FX expertise, a strong institutional client base, and differentiated analytics that enhance our ability to support clients’ transaction cost analysis and best execution needs.”