TAG, a provider of independent execution quality and transaction cost analysis metrics for the buy-side, sell-side and exchange community, announced the launch of Meteor. This analytics platform enables firms to create their own TCA and execution quality tools on-demand.
"Developed to facilitate the rapid creation and customization of reports that measure and rank trade performance, market quality and trading execution, Meteor provides firms with complete flexibility to capture, define and analyze their trade data however they desire at any given moment," according to a company press statement.
Meteor is built on TAG's direct market data feeds and historical archives and includes industry standard and customized trade performance and execution quality metrics, data filters and result groupings. The platform enables firms to mix and match standard or enhanced benchmarks with custom metrics to create tailored trade analysis reports from the market level down to the single-stock, order and trade execution levels.
"With the recent levels of market volatility and growing regulatory scrutiny over order handling and execution quality, firms now more than ever need to break out of their dependence on standardized tools for TCA and execution quality," says Roger Post, executive vice president at TAG.
He continues: "Firms must create analytical tools that are a true reflection of their business. With Meteor, we're giving our clients the power to build analytical reports that measure each firm's unique trading activities."