BME, through its technology subsidiary Visual Trader, today launched VisualTCA, a Transaction Cost Analysis (TCA) service that will allow intermediaries to get to know their implicit execution costs, both in the markets in which they trade directly and in those where they operate through other brokers.
Besides, VisualTCA will allow clients to assess the quality of execution provided by their brokers. This assessment is done by comparing the prices negotiated by the broker for each stock with those posted by the market (including regulated markets and MTFs).
At the end of the session users of the service will receive a report with a summary and detailed cost analysis broken down by market, client, broker, trader, etc.
As a new feature compared to other similar services, VisualTCA includes a spreadsheet that will give users maximum flexibility to establish their own quality ratios and to generate internal reports or send them to their clients.
According to Jose Parga, CEO of Visual Trader, "VisualTCA will help ESI's (investment services firms) to provide their clients with a better service and will contribute to greater transparency in execution services, which is in line with recent Discussion Papers published by ESMA ".
For more information visit www.visual-trader.com
