ACA Group has announced it has acquired FX Transparency, a provider of foreign exchange (FX) transaction cost analysis (TCA) and best execution analytics.
The firm writes that the transaction builds upon ACA’s 2025 acquisition of Global Trading Analytics (GTA), which established ACA’s entry into TCA across global equities, fixed income, derivatives, and foreign exchange. The addition of FXT represents a strategic capability addition that deepens ACA’s foreign exchange capabilities, one of the largest, most liquid, yet opaque asset classes globally.
Founded in 2009 and headquartered in Framingham, Massachusetts, the firm writes that FXT is widely recognised for its independent, data-driven FX TCA solutions. The firm leverages proprietary analytics and a broad repository of institutional trading data to help asset managers, pension funds, endowments, mutual funds, insurance companies, and corporations evaluate execution quality and meet fiduciary obligations.
The firm writes that FXT’s customised, client-driven approach aligns closely with ACA’s commitment to equip clients with the expertise and technology required to meet evolving GRC requirements worldwide.
“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.”
“The acquisition of FX Transparency represents a deliberate next step in building a best-in-class, cross-asset TCA platform,” says Patrick Olson, CEO of ACA Group. “Following our successful acquisition of GTA, 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.”
John Galanek, Co-Founder and CEO of FX Transparency, adds: “Joining ACA enables us to continue delivering the high-quality foreign exchange analytics our clients expect, now supported by ACA’s global operating resources and broad GRC expertise. Together, we can provide a comprehensive TCA solution that addresses the evolving needs of global institutional investors.”
