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Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that T. Rowe Price will use ICE Data Services’ Best Execution service to evaluate trade execution quality to support best execution and enhance its transaction cost analysis (TCA) for fixed income securities.
Best Execution leverages ICE’s fixed income Continuous Evaluated Pricing (CEP) and offers a trade-by-trade measurement of execution quality relative to comparable market transactions. By quantifying trade execution quality versus comparable transactions, the independent metrics provided by Best Execution will enable T. Rowe Price to support compliance with global regulatory requirements and evaluate TCA across its trading desk in a compliant manner.
“As a global investment management company serving both retail and institutional investors, it is critical that our clients have confidence that we are addressing evolving financial regulations and working to continuously review and enhance our execution quality,” said Alexander Sedgwick, VP at T. Rowe Price. “By providing a quantitative solution that offers transparency, Best Execution offers effective tools to monitor transaction quality and to respond to evolving global regulatory needs.”
“Best Execution uses an innovative methodology that allows customers like T. Rowe Price to see how their trades stack up against comparable transactions and evaluate trade execution quality in the fixed-income markets,” said ICE Data Services President and COO Lynn Martin. “As global regulatory regimes governing best execution change, our services such as Best Execution offer greater transparency and help meet customers’ expanding risk management and reporting needs.”
