Open TCA for Execution Analysis

Independence and accuracy, combined with the transparency we provide on the underlying data, is at the core of our Open TCA offering.

This is seen as essential by our clients to improve workflows, optimise trading strategies and ensure best execution.


As global markets evolve, pre and post-trade execution analysis has to manage increasingly complex data sets at previously unmeasurable levels of granularity.

We harvest, store and normalise those global granular data sets, and with our transaction cost analysis platform, Open TCA, we provide the tools to interrogate them in order to estimate your pre-trade costs, benchmark your trading when you executed, and calculate the cost when you did not.

Why do our clients choose Open TCA?

Independence

With no external ownership, and no conflicted trading function, big xyt’s data analytics are completely unbiased.

Flexibility

Our innovative approach, domain expertise and transparent methodology means you have everything at your fingertips, from a standard TCA report, to an API to facilitate the latest machine learning techniques and apply them to your trading datasets.

Service

From POC to production and beyond, our technical support is designed to be an extension of your team. By partnering with big xyt, you gain the accurate insights you need, whenever you need them.

Our clients report 97% ACCURACY in finding trades.
How many exceptions do you have with your current transaction cost analysis provider?

Open TCA brings the same benefits to execution analysis and research as our Liquidity Cockpit has to market structure experts (ask any European exchange operator), because they are built on the same foundations: delivering granular and accurate data sets in an accessible and practical package.

As winners of A-Team’s TradingTech Insight Awards for Best TCA Tool 2020 and The Trade’s Leaders in Trading Outstanding TCA Provider Award 2019, we’re fast becoming known as one of the best transaction cost analysis providers in the financial services community.

TCA is no longer just for box-ticking. How are you ensuring you have the tools and processes to lead and monitor your best execution requirements?


Use Cases

Pre-trade Modelling and Estimation

Understand your expected market impact for single stocks or portfolios.

Optimise Trading and Execution

Empower the execution feedback cycle by tracking the effect of changes to execution strategy and aggression in parallel with broker and venue selection.

Optimisation and Modelling

Apply a more systematic approach to execution strategy evaluation by leveraging sophisticated quantitative models (proprietary or managed by our team) through flexible APIs.

Best Execution and Compliance

Benchmark trades to demonstrate execution quality and meet regulatory requirements. Spot outliers and identify fill level breaches based on client-specific policies.

Client Reporting

Schedule regular standard or bespoke client reports. Generate ad hoc custom reports or provide white-labelled access to visualisation tools for your clients to interrogate themselves.

Broker Evaluation and Venue Analysis

Compare benchmark performance by broker and strategy. Review venue quality and access according to custom criteria. Observe the impact of changes to algo wheel configuration.

Be the driver and let us be the data mechanics

data-mechanics-landscape

Key Features

Global Coverage

Over 120 markets covered with the necessary history and granularity. Our methodology is applied consistently to provide reliable and comparable results.

Control

Control the transaction cost analysis process with seamless integration, API access, CSV delivery, PDF reports and interactive dashboards.

Integration

Embed big xyt Open TCA execution analysis into existing workflows – pre and post-trade.

Flexibility

Client-order, parent-order, unfilled orders, custom benchmarks, white-label reports. Analysis by region, by country, by sector, by market capitalisation, by client, by fund, by venue, by broker, by strategy, by trader, it’s up to you.


big xyt Open TCA for execution analysis

* Normalised data across regions, venues and condition codes


Differentiating Factors

Independence

As a privately owned company, our clients see big xyt as an unbiased and objective provider of data analysis.

Resilience

Our products are distributed across multiple regions, data centres and servers, providing reliable and resilient environments for our clients. Regular security reviews ensure conformance to the current industry standards for data security. 

Convenient Access

Benchmark results can be provided via a variety of delivery mechanisms including our API and unique web-based visualisation tools, along with file delivery such as PDF or Excel.

Performance Analysis

Looking at analysis over time rather than snapshot allows the user to perform consistent, comparative execution analysis.

Transparent Methodology

All benchmarks are fully documented and can be verified with the underlying tick data.

Cost Management

We reduce the Total Cost of Ownership. Our technology team are focussed on collecting, curating and delivering analysis that any of our clients would require a team of 2+ people to support – in addition to the cost of raw data and infrastructure. We have a subscription pricing model.

Our Open TCA for execution analysis is a key tool for asset managers and hedge funds to gain market insight, and for sell-side firms and exchange operators to offer transparency to their clients.

For all clients we provide the tools to reduce costs, optimise trading and demonstrate their role in the generation of alpha for the end investor.