TCA users and consultants on both the buy-side and the sell-side rated current cost analysis processes with a score of 5.36 out of 10.

Among the leading requests for improvement: transparency (85 percent), statistically robust results (over 80 percent) and consistency (75 percent). The survey was conducted by OpenTCA a consortium of major sell-side firms and TradingScreen,a provider of multi-broker and multi-asset class execution management systems (EMS) to the buy side.

“What the process has shown is that there is a desire for more transparency and consistency within TCA and general acceptance of specifics in some areas,” said Jon Fatica, head of analytics at TradingScreen.

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Forbes - Tom Groenfeldt - December 26, 2011