Transaction Cost Analysis

Enhance trading-related execution quality management and streamline performance-based order routing

Our Transaction Cost Analysis (TCA) tool is an independent global analysis platform that combines execution, algorithmic, venue and smart order router evaluation analytics. This service provides actionable insight to brokers and asset managers to enhance and synchronize their trading related execution quality management, compliance and management reporting capabilities. Trading desks leverage our TCA solution to streamline performance-based order routing and optimal strategy selection.

For buy-side firms, this advanced trading analysis solution provides the key trading intelligence for verifying execution quality across execution routes, 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.

Key benefits:

Comprehensive – Access integrated pre-trade forecasting tools and historical performance data, including individual security and program-level metrics
Granular – Measure the cumulative price impact of an order with 'child'-level executions that are synchronized to prevailing market conditions
Multi-dimensional – Evaluate best execution with a multifaceted approach that accounts for the unique parameters and priorities of institutional trading, including the impact of high-frequency competitors and directional biases inherent in a manager's alpha
Evolving – Benefit from new evaluation metrics and analysis functionality that is routinely updated by our experienced analysts as they monitor global markets and trading technology
Comparative – Buy-side firms can compare performance of brokers and algorithms across specific market scenarios, while sell-side firms can run competitor performance comparisons using anonymous, contextualized strategy and scenario filters