Transaction Cost Analysis (TCA)
FXall: advanced tools for execution analysis
FXall trading analysis combines proprietary and independent solutions that allow you to assess the effectiveness and cost of your trade execution, helping you achieve and demonstrate best execution.
FXall customers benefit from best-in-class TCA solutions to help them optimize their trade execution and meet best execution requirements.
- FXall has developed proprietary trading analytics to help you assess the quality of your FXall trade execution on a post-trade basis, as well as to inform your pre-trade decision making and provider selection
- In addition, our partnership with BestX® provides FXall customers with connectivity to a leading provider of independent FX TCA
Execution Quality Analysis (EQA) reports: Thomson Reuters proprietary EQA reports analyze client trading over FXall, helping you understand the quality of your trade execution and identify opportunities to improve performance.
Dynamic Provider Selection: leverage FXall TCA to enhance your provider selection and improve your execution quality.
- Leverage transaction cost analysis of your historical trading activity to optimize your selection of liquidity provider for RFQ tickets.
- Set rules to automatically select which liquidity providers should be auto-populated on RFQ tickets based on their historical performance.
- The EQA reports will help you answer questions such as:
- How is my trading distributed across currency pairs, counterparties, trade size, time of execution?
- How does my trading compare with the highs and lows of the day?
- How does my trading compare against multiple benchmark rates such as 4pm fix; hour/daily VWAP; daily high/low?
- How does order size affect response time?
- When is the best time to execute orders by currency pair and trade size?
- What is the impact of my counterparty selection? How are my counterparties performing in terms of spreads and response time?
- What are my netting opportunities?
- On a monthly, quarterly basis or custom basis, the results of the EQA reports are presented to you by a knowledgeable FXall Relationship Manager, together with an EQA Report Reference Guide to help you interpret the results and underlying data.
Thomson Reuters Partners with BestX ® to provide independent FX TCA
By partnering with BestX®, a leading independent provider of FX TCA, Thomson Reuters is helping customers define, achieve, and demonstrate best execution for their FX transactions.
The Case for Independence: unlike other FX TCA providers, BestX® was designed by “FX people, for FX people”, and is truly independent, avoiding any conflicts of interest and risk of abuse.
BestX® FX Best Execution Analytics: sophisticated TCA analytics, delivered via an interactive and web-based application, allowing FX market participants to analyze the costs and execution performance of their FX transactions.
- Run the proprietary BestX® analytics in real-time to measure all aspects of your execution performance, including spread and impact costs, as well as signaling risk
- Perform analysis prior to execution, to compare different styles and aspects of execution, and to help justify the decision making around choice of method, time of day, size, counterparty, etc
- Create tailor-made PDF reports and automate their distribution
FXall provides connectivity to the BestX® FX Best Execution Trading Analytics: customers can benefit from straight-through-processing of their FXall trades to the BestX® application.