FlexTCA

Transaction Cost Analysis


FlexTCA is a comprehensive transaction cost analysis and quality management solution offering buy- and sell-side institutions real-time and historical transaction cost analysis in trading global equities, FX, as well as some derivatives for both portfolios and single stocks. With FlexTCA, you can analyze trader performance, algorithm performance and strategy performance over daily, monthly and yearly cycles, and view any deviation of realized costs using an array of benchmarks, including algorithm-specific benchmarks.

 

 

Features / Benefits

Real-Time/Post Trade Analysis

With more than 80 out-of-the-box benchmarks, measuring transaction cost analysis has never been this comprehensive.  As you continue to use the system, you build a historical database of trade and cost data. Using multi-day functionality you can easily grab a month (or any other amount of data) for easy historical analysis.  The system also runs live while you are trading for up-to-the-minute feedback.  Analyze your trades against a multitude of factors and drill down to each individual order placed in the market. See the implementation shortfall of every order or take a top down approach looking at costs by more than 30 factors.


Drill Down Reports and Graphs

All of FlexTCA's reports and graphs support drill down functionality allowing you to get as granular as you choose in your analysis. With an intuitive graphic user interface (GUI), it is easy to quickly identify costly areas and use real-time feedback data to adjust strategies or discuss with fellow traders and brokers. 

 

Broker Algorithm Ranking

FlexTCA offers the unique ability to track your broker algorithms, keeping in context their objectives and targeted benchmarks. See how many times you used them, their performance, standard deviation and other measures.  Make intelligent decisions going forward by identifying algorithms that work best in different situations and by more than 30 differenct factors. You can also use nested group functionality to view any specific market situations.  

 

Flexibility/Confidentiality/Security

FlexTCA users are able to customize their views to show only the information they need to see and create their own benchmarks. In addition, all FlexTCA processes and servers run at the client site, so transaction data is not shared with any other entity providing complete confidentiality. The solution also runs in an encrypted state for data security.

 

For the Buy-Side

  • Evaluate broker performance and broker algorithm performance. Create algorithmic "Sharpe" ratios to determine risk performance trade-offs.
  • Evaluate your broker's indications of interest (IOIs).
  • Analyze the broker's performance on captial commitment trades.
  • Evaluate the transactions across any time duration by more the 30 factors.

For the Sell-Side

  • Roll-out post-trade functionality to your clients over the web.
  • Receive your clients' portfolios via the web for immediate trading through FlexTRADER or your own EMS platform.
  • Give the client real-time access to their trade performance. You control what information is available.
  • Allow clients to create end-of-day/month/quarter reports on demand.