Regulated under the UK Financial Conduct Authority (FCA) benchmarking regime Siren FX is an independent FX benchmark that enables financial institutions to achieve improved returns on their foreign exchange executions. Siren FX has been developed to be traded, unlike other benchmarks which have been designed for point in time portfolio valuations. Using a 20 minute window, clients benefit from better earlier prices, thereby avoiding damaging market impact. We provide market participants the transparency and tools they need to improve their decision-making in respect of the execution of their investment related foreign exchange activity, and instruct their executing banks accordingly, while achieving compliance with industry codes of conduct.