Ancerno, a provider of transaction cost analysis (TCA) software and consultancy, has launched a web-enabled version of Trade Compass, its pre-trade analysis product.
Trade Compass is the first of Ancerno’s products to be deployed on the web as part of the company’s strategy to deliver its full line of TCA products over the Internet by early 2010. Ancerno said web-enablement of its products would allow it to reach customers through more delivery channels, integrate more easily with distribution partners and serve customers more efficiently.
Trade Compass allows users to estimate transaction costs, plan trading strategies and assess execution risk. Ancerno maintains a database of over $7.5 trillion in annual principal traded by over 500 global clients, enabling the firm to generate a wide variety of stock-level benchmarks and pre-trade cost estimates based on historical trading results. Trade Compass uses the database to create ‘experience benchmarks’. The tool’s reports are fully customisable and can be exported to Microsoft Excel.
“We feel Trade Compass offers our customers greater accuracy and flexibility for pre-trade analysis,” said James Noser, president of Ancerno, in a statement. “It lets customers use our experience benchmarks or other industry standard estimates and even to compare them side by side. This combination works extremely well as trading options increase and execution strategies become more complex.”
Ancerno was spun off from former parent Abel/Noser Corporation, an agency broker and TCA provider, in 2007.