...(T)he concept has had a boost from big industry players: Bank of America Merrill Lynch, Citigroup, Nomura and UBS have joined TradingScreen – an electronic trading solutions provider – in putting their weight behind an initiative to create a set of guidelines to develop consistent, industry-wide standards for TCA. They have created an industry consortium called OpenTCA.

As part of OpenTCA, buy- and sell-side institutions are being called upon to take part in a survey of their thoughts on the true cost of transactions. The survey runs until the end of the month.

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Sophie Baker - Financial News - October 4, 2011