New tool helps traders improve performance and demonstrate best execution
ITG’s fixed income TCA is built on a robust market data set of more than 10 million daily quotes and trades, including ECN executions, inter-dealer quotes and FINRA’s TRACE trade information. As an independent fixed income TCA provider, ITG aggregates market data and transactions from multiple, often competitive sources, resulting in a deep data pool.
“Our fixed income TCA allows clients to aggregate and analyze their transaction data no matter where they execute their trades,” said Kevin O’Connor, global head of analytics products at ITG. “This capability, along with flexible benchmarking, RFQ analysis and robust reporting supported by our global client service model differentiates us from existing offerings in the marketplace.”
Also commenting on the launch, Frank DiMarco, head of fixed income analytics at ITG, noted, “Our clients who are engaged in multi-strategy trading can use our product to see their true net cost of trading to better evaluate their performance. The flexible interface enables traders and compliance staff to identify, comment on and manage outlier transactions.”
ITG’s fixed income TCA currently covers major global corporate and sovereign bond markets, with bond futures and other debt asset classes to be added in coming quarters. The new fixed income TCA product is now available for post-trade analysis and reporting, with pre-trade capabilities in development.
ITG is a leading global TCA provider and has the world’s largest equity peer transaction database, covering approximately 20% of all equity institutional trades. ITG TCA assesses trading performance and implicit costs under a variety of market conditions, enabling traders and portfolio managers to adjust strategies, reduce costs, boost performance and potentially improve fund rankings. In addition to equity and fixed income analysis, ITG also offers TCA for FX, with the broadest set of data sources available in the foreign exchange market.
Investment Technology Group (NYSE:ITG) is a global financial technology company that helps leading brokers and asset managers improve returns for investors around the world. We empower traders to reduce the end-to-end cost of implementing investments via liquidity, execution, analytics and workflow technology solutions. ITG has offices in Asia Pacific, Europe and North America and offers execution services in more than 50 countries.