TCA requires standard benchmark and practices
The quest for a universal way of measuring execution quality continues
Best execution requirements are increasingly shining the spotlight on the way clients employ transaction cost analysis (TCA) to measure execution quality, but the lack of a standard benchmark or method of calculation is making real comparisons almost impossible, market participants say.
"There are many challenges involved when it comes to TCA, as it's very difficult to compare apples and apples. For example, the use of algos has increased significantly, but each algo provider delivers their post
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