Product Update: Trade Analytics and TCA
Transaction cost analysis (TCA) is gaining increased importance in today’s volatile financial markets as firms seek to measure the effectiveness of completed orders amidst shifting values, risks and opportunities. The Charles River Investment Management System (Charles River IMS) offers clients advanced pre-trade, in-trade and post-trade TCA functionality for comprehensive trading decision support.
“With Charles River’s TCA capabilities, traders can analyze their open orders in light of each order’s predicted impact,” says Stephen Engdahl, Director, Product Management, Charles River Development. “Execution results can be monitored in real time without extra clicks. And, full post-trade analysis over the complete trade cycle is available from multiple providers – without re-keying information.”
Pre-Trade Analysis
- Embedded TCA Web Content – link web-based content directly with the Charles River Blotter for updated market analysis
- TCA Blotter Integration – import and store more than 40 TCA fields for any order and compare expected and actual market impact
- Program & Analytics Views – ‘slice and dice’ orders by TCA values, percentage average daily volume, country, etc.
- Automated Order Routing – evaluate order characteristics, market conditions and/or pre-trade TCA to determine auto-routing to a specific broker and/or broker algorithm
In-Trade Analysis
- Price Snapshots – store market and order details at pre-defined intervals for the life of an order, triggering custom database snapshots directly from the Charles River Blotter
- Execution Monitoring and Slippage Analysis – compare trading benchmarks with actual fill and real-time market prices; quickly identifying and adjusting orders based on slippage alerts
- Custom Reports – access and tailor all pre- and in-trade analytics to create custom TCA reports
Post-Trade Analysis
- Post-Trade TCA Interfaces – send order, place and fill information to external TCA providers, automatically generating and transmitting transaction logs from Charles River IMS
Charles River IMS currently supports multiple TCA providers, including ITG Logic (pre-trade) and Abel/Noser, ITG and QSG (post-trade).
For more information on TCA capabilities in Charles River IMS, please contact your relationship manager or Steve Engdahl, Director, Product Management, +1 781 425 6129 or StephenEngdahl@crd.com.
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