Buy-side traders have long complained that inconsistencies in data and methodology inhibit meaningful comparison of execution performance, but to what extent can recent moves toward standardisation help?

“In its initial stages, TCA was not really a front-office issue and was traditionally used for compliance, both internally and externally, to satisfy clients and senior management that transactions were being directed to the most appropriate broker,” says Robert Kay, head of analytics at TradingScreen, a provider of execution management systems and TCA services.

The Trade, Issue 28 (Apr - Jun 2011)