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Transaction Cost Analysis (TCA)

Measure and manage best execution

Our multi asset Transaction Cost Analysis (TCA) tool combines your bespoke trade data with our industry leading market data sets to produce the best-in-class TCA metrics, benchmarks and reporting. This solution provides three essential benefits to buy side and sell side firms:

  • Actionable Insight into execution quality and trading costs
  • Regulatory Compliance
  • Optimisation of Alpha to maintain competitive advantage

Evolving market practices and global regulations such as MiFID II have increased scrutiny over best execution practice. As the concept of best execution has developed from the best available price at a point in time to a more holistic view of the investment process, the need to measure and manage increasingly complex trades and execution processes has grown significantly.

For buy-side firms, this advanced trading analysis solution provides the key trading intelligence for verifying execution quality across a range of benchmarks, from “high touch” to direct market access.

For sell-side firms, our sophisticated evaluation analytics for algorithms and smart order routers provide for the next generation of execution quality reporting and deliver trading intelligence valued by trading desks.

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Products and solutions

Download TCA services for fixed income
Independent Fixed Income TCA tool that provides global empirical performance data to help measure and manage best execution

Download Trading Analytics – Fixed Income Peer Universe
A tool to compare your Fixed Income execution quality against industry peers

Download TCA equity services for buyside
Independent Equity TCA tool that provides global empirical performance data to help measure and manage best execution for buyside

Download TCA equity services for sellside
Independent Equity TCA tool that provides global empirical performance data to help measure and manage best execution for sellside

Download TCA services for FX
Independent FX TCA tool that provides global empirical performance data to help measure and manage best execution

Download TCA loans and money market instruments
Independent loans and money market TCA tool that provides global empirical performance data to help measure and manage best execution

Download TCA for credit default swaps
Transaction cost analysis and best execution reporting for single name CDS and Index CDS instruments

Download Best Execution for OTC Derivatives
Independent, multi-contributor, validated service providing post trade performance data to help measure and manage best execution

Thought leader insights

Experts

Michael Richter

TCA is a global equity, FX and fixed income trading analysis platform from IHS Markit (now part of S&P Global) for buyside and sellside firms. Prior to joining the firm, Michael worked within European equities trading at Louis Capital and ICAP. Earlier, after spending six years at Morgan Stanley on a multi asset class trading desk in Private Wealth Management, he headed up the European equities execution desk at Brevan Howard.Michael holds an honours degree in business management and economics.

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Customers

  • Investment managers
  • Pension plans
  • ETF providers
  • Risk and compliance officers
  • Investment consultants
  • Transition managers
  • Algorithmic trading firms
  • Investment banks

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