Transaction cost analysis (TCA) specialist LiquidMetrix has teamed up with Ullink to provide its services to users of its global network.
Ullink’s NYFIX network will offer post-trade analytics powered by LiquidMetrix to its customers as regulatory pressure to achieve best execution grows.
Those who opt-in will see all orders carried on NYFIX receive an automatically generated report on execution performance, with indicators including traditional TCA as well as venue toxicity reports.
Initially the service will be focused on buy-side clients but an extension to sell-side firms is planned.
Ullink chose LiquidMetrix as its partner due to its recognition as an expert in financial market data research and execution quality analysis that reflect modern, multi-venue trading.
Richard Bentley, chief strategy office for Ullink, said: “Best Execution analysis and TCA has become a must-have for our clients, and we are thrilled to be able to address their needs with our new offering.
“We knew from the outset that to provide this service we needed the support of experts. The pedigree of LiquidMetrix, and their capability to drill down to micro level analysis, is unrivalled in the market and gives our clients the tools they need in this fast-moving space.”
Sabine Toulson, managing director of IFS LiquidMetrix, said: “Ullink’s NYFIX trading community is one of the largest in the world and we are excited to be able to offer our capabilities to its members. By offering several tiers of service, we are able to cater for the needs of all members of the community, and instantly add new capabilities should their needs change.”