Transaction Cost Analysis Solution

Optimize trading performance, manage execution costs, and support best execution compliance with advanced trading analytics

Trading costs impacted by periods of volatility, fragmented liquidity, and evolving global regulations create ongoing challenges for execution oversight. ACA’s Transaction Cost Analysis (TCA) solution provides firms with advanced analytics and reporting to optimize execution, reduce costs, and maintain regulatory preparedness.

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Smarter execution, lower costs, stronger compliance

Improve trade strategy and order routing

Leverage data-driven insights to refine execution algorithms and strengthen liquidity sourcing. 

Increase cost transparency and efficiency 

Identify explicit (commissions) and implicit costs (market impact, slippage) to enhance decision-making. 

Enhance best execution compliance 

Generate reports and benchmark performance against MiFID II, PRIIPs, SEC Rule 606(a), Liquidity Reporting, and other global mandates.

Generate audit-ready reports 

Streamline best execution tracking and broker assessments with customized internal-use and regulatory reporting.

Add market context to your trade evaluation process

Integrate market data from most of the major vendors to eliminate blind spots and gain a unified view of execution quality.

Customize reporting to track your trading profile

Structure TCA using your unique data to create reports tailored  to your firm and trading approach.

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How it works

Each stage of our TCA solution provides critical trade execution insights to enhance performance and ensure compliance.  

Trade data collection and standardization 

  • Aggregate and standardize execution data across equities, fixed income, FX, futures, and options.
  • Collect data seamlessly from all client trade data sources, including custodians and clients’ EMS and OMS providers.

  • Ensure data accuracy and consistency for reliable cost and performance analysis.  

Execution quality and cost analysis

  • Measure execution performance using industry benchmarks like Volume Weighted Average Price (VWAP), Participation Weighted Price (PWP), and Arrival/Implementation Shortfall (IS).

  • Compare trade results against an apples-to-apples institutional universe to refine execution strategies.
  • Gain full transparency into explicit (commissions) and implicit (market impact, slippage) trading costs.

Compliance reporting and dashboards

  • Automate regulator-ready reports for MiFID II, PRIIPs, SEC Rule 606(a), Liquidity Reporting, and other global mandates.
  • Customize flexible dashboards by asset class, venue, trading desk, strategy, and more for tailored insights.
  • Export reports in multiple formats for audits and compliance reviews.

Trade monitoring and optimization

  • Track execution trends and detect inefficiencies and anomalies.
  • Enhance order routing and algorithmic execution strategies with advanced analytics.
  • Apply data-driven insights to improve execution performance and reduce costs.

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