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Bank of America Merrill LynchGlobal Execution Services
Contact:USA: Lee Morakis; EMEA: Brian Schwieger, ASIA: Gabe ButlerUSA: 212-449-6090; EMEA: 22 (0)20-7995-1761; ASIA: 852-2536-3302 Last updated: 04/16/10 02:31:40
Description of TCA Services
BoAML Global Execution Services offers its clients an Execution Consulting service with includes TCA, Peer Analysis, Market Structure advice as well as Algorithmic Strategy customization. Our philosophy is to help clients identify an execution style which best suits their investment or alpha style.
Where do the services get transaction data?
We have full tick by tick and slice by slice transaction data for our Algorithmic Trading clients. We have the ability to import other broker data if provided by our clients.
How frequently is data collected?
Our data is collected and collated on a daily basis.
How is the data analyzed?
Our consultants analyze the data with our clients to understand not only the performance of their trading, but to develop an appreciation of how the choice and behaviour of the trading strategy has impacted performance. Then advice can be given on how performance might be improved by choosing a different trading strategy or customizing existing strategy.
What benchmarks are offered?
We offer a broad range of benchmarks to cater for the full range of trading objectives of our clients. These include the standard recognised benchmarks as well as more bespoke/customized benchmarks.
Are pre-trade estimates and intra-trade analysis available?
Intra-trade analysis is available form our regional Execution Desks, who provide Salestrading services to our Algorithmic Trading clients. Full post trade analysis is available at end of day.
Is data real-time for pre-trade estimates and intra-trade analysis?
Yes, the data used by our Execution Desks for intra-trade updates are in real-time.
Is data for post-trade analysis real-time, end of day or following day?
Preliminary post-trade information is available in real-time from our Exection Desks, with full post trade analysis, using all our available metrics and stats, is available at end of day.
Can post-trade analysis be provided based on client-specified timeframes?
Yes. We can provide analysis over any chosen period requested by our clients.
Does the analysis deal with qualitative data such as manager instructions and/or linkage to portfolio management group?
For our Algorithmic Trading clients, we have a full instruction profile from their choice of strategies and parameters. For analysis of data from outside of our trading platform, we do ask clients to provide their preferred benchmark for each trade so that we can provide more meaningful analysis.
How is the analysis delivered?
Analysis is delivered, where possible, in person by our consultants to give our clients the opportunity to interact directly with questions or add further information to the mix. Analysis can also be delivered by email.
Is your TCA service available beyond equities? If so, what asset classes?
Our TCA service is currently available for Equities and Futures, with additional asset classes such as FX on our development radar.