A key benefit is capturing the pricing information, dealer quotes, and Trace data at that point of time and being able to prove out the quality of executions. Capturing the full liquidity opportunity set for a security is critical today given how fast the velocity of information and data flows across the desk.
In 2019 we embarked on a mission to completely recreate our Fixed Income TCA product. Every client we encountered had an existing product that was a very badly adapted version of Equity TCA. We knew we had the connectivity, data normalisation and aggregation in the Fixed Income EMS to vastly improve the need for contemporaneous and high-integrity benchmark data in the TCA product.
All we needed to do was bring it all together in an aesthetically pleasing and highly configurable format that could cater to the varied needs of compliance, performance and evaluation requirements.
Now our users begin their TCA with the arrival of the order in pre-trade mode. Throughout the execution workflow they can monitor liquidity opportunities in relation to their selected benchmark. Post-trade they can peruse vast amounts of venue data for competitive quotes, Z, I & G-spreads and external data feeds.
TS Fixed Income TCA will also provide detailed analysis of Venue, Dealer, Protocol and Trader performance by instrument, sector and currency.
The amazing thing is, you can take all of this for a test-drive without any install or tech effort.