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TAGTAG Equities TCA, TAG Options TCA
www.tagaudit.comContact:Diane Sivertsen646-375-1558dsivertsen@tagaudit.comLast updated: 04/19/10 18:07:06
Description of TCA Services
TAG's online TCA product offers users the ability to examine post trade results of large orders for US Listed Options and Equities and European Equities. Examine results in summary, by industry indices, by portfolio, by symbol and more. Detailed tick-by-tick market data is available on-demand. Data is also available in .xml files for import to common programs or databases and in printed form in committee review. Services are available on any frequency including real-time.
Where do the services get transaction data?
Order, trade execution and cost data are received directly from clients or their order management systems. Market data for analyses is recieved directly from industry exhanges and other trading centers.
How frequently is data collected?
Data is collected in real time or a daily basis.
How is the data analyzed?
Trades are analyzed against full tick-by-tick quote and print data for periods as short as a fraction of a second to the full trading day. Numerous industry standard and proprietary benchmarks are computed and stored for historical purposes and are available online with full filtering capability.
What benchmarks are offered?
A full compliment of price related benchmarks such as Arrival Price, TWAP, 3 durations of VWAP, a proprietary measure VWAM and for Options in particular, GWAP. Market Impact measurements are included such as Participation, Trading Aggressiveness and Liquidity Capture. Also included are Fill Rates and an assortment of Order Flow measurements. TAG also provides custom benchmarks on request.
Are pre-trade estimates and intra-trade analysis available?
Deep pre-trade metrics are available through TAG's strategic partners.
Is data real-time for pre-trade estimates and intra-trade analysis?
Intra-day analysis is available in real-time for Equities and Options.
Is data for post-trade analysis real-time, end of day or following day?
All are available.
Can post-trade analysis be provided based on client-specified timeframes?
Absolutely. TAG frequently works with customers to establish benchmarks based upon non-standard timeframes.
Does the analysis deal with qualitative data such as manager instructions and/or linkage to portfolio management group?
Yes, to whatever depth is provided in the source data.
How is the analysis delivered?
Via Internet, over EMS/OMS, download.
Is your TCA service available beyond equities? If so, what asset classes?
Yes, Options.
Additional Comments
TAG offers turnkey TCA solutions for all size firms as well as fully customized solutions.