International asset management firm Henderson Global Investors is using the Bloomberg Transaction Cost Analysis tool (BTCA) for its global equities trading business, in an effort to stay ahead of mounting regulatory scrutiny and increased competition for assets among buy-side firms.
Provided by trading systems supplier Bloomberg Trading Solutions, BTCA is a customisable pre- and post-trade transaction cost analysis (TCA) solution that aims to provide clear assessment of transaction costs and evaluation of trader/broker performance. Using the same market data suite available on the Bloomberg Professional service, it receives transactional data from Bloomberg Asset and Investment Manager, a multi-asset order management system (OMS), as well as the Bloomberg Execution Management System, a global, multi-asset, broker-neutral platform.
The product is designed to integrate with any other OMS or execution management system, collecting data on a daily or periodic basis according to client needs and combining Bloomberg's library of TCA benchmarks with historical trading information.
“We chose BTCA for the independence it delivered us,” said Andy Munro, global head of trading at Henderson. “The on-demand reporting and flexibility to create custom reports means we can investigate and analyse issues quickly and efficiently and then make changes to our trading strategies, which ultimately allow us to improve our performance and garner better returns for our clients.”
Henderson is one of Europe's largest investment management firms, with Â£59.2 billion assets under management as of 30 September 2010, and 950 employees world-wide.