Trading ServicesTransaction Cost Analysis

Markit Transaction Cost Analysis (TCA) 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 synchronise their trading related execution quality management, compliance and management reporting capabilities. Trading desks leverage Markit TCA to streamline performance-based order routing and optimal strategy selection.

Customers

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

Statistics

  • $500+ bnin asset manager trading analyzed per quarter
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Product Summary

Markit TCA is a global equity, FX and fixed income trading analysis platform for buyside and sellside firms. Designed by traders, Markit TCA delivers the metrics necessary to streamline performance-based order routing and optimal trade strategy selection.

Markit TCA combines comprehensive historical trading performance metrics with up-to-date forecasts and directional signals. Toxic liquidity and front-running surveillance tools accurately differentiate the performance of execution venues.

For buyside 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 sellside 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. A flexible report generation tool facilitates surveillance, supervision and management reporting requirements.

    Key Benefits

    • Comprehensive

      Integration of pre-trade forecasting tools with historical performance data and complete suite of analytics, including individual security and programme level metrics

    • Granularity

      'Child' level executions evaluated and synchronised to prevailing market conditions, enabling measurement of the cumulative price impact of an order and other unique surveillance metrics

    • Multi-dimensional

      Supports a multi-faceted approach to evaluating best execution, accounting 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

    • Dedicated analysts

      Experienced team of analysts monitoring global markets and trading technology, routinely adding new evaluation metrics and analysis functionality in response

    • Comparative

      Ability for buyside firms to compare performance of brokers and algorithms across specific market scenarios and for sellside firms to run competitor performance comparisons using anonymous, contextualised strategy and scenario filters

    Thought Leadership

    • The Evolving Role of Best Execution Analysis

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    • Trading Analysis is Critical in Best Execution

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    • Building a Best Execution Framework

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    • The Use and Abuse of Implementation Shortfall

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    • Mifid II FAQs

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