Bloomberg's BTCA product is a pre- and post-trade transaction cost analysis tool for equities. It is integrated into the core Bloomberg offering to harness the breadth of market data and to allow access to a range of analytical tools. BTCA is customisable and interactive. It allows users to analyse transactions in historical context. BTCA's pre-trade is highly actionable. It leverages the peer universe of Bloomberg's clients and allows for easy selection of the broker-strategy for each trade, which can be placed right away.
Asset classes and markets
BTCA supports equities in all geographical markets around the globe.
Bloomberg backfills four months of history for all benchmarks and has the capability to go back much longer in history for a subset of benchmarks.
BTCA supports over 100 benchmarks for order level (trader) and placement level (broker/strategy) analysis. These benchmarks include implementation shortfall (arrival), VWAP, participation-weighted average prices (PWP), reversions with various time horizons, and several cost models. Benchmarks can be index and/or limit adjusted. Flexible and robust peer universe benchmarking, based on Bloomberg’s peer universe, is also available.
BTCA reports results via:
– Bloomberg terminal: BTCA function
– Excel (emailed or downloaded)
– PDF (emailed or downloaded)
The reports can be for any period in history and can be run ad hoc (real time) or scheduled for delivery with various frequency (daily, weekly, monthly, etc.)
Bloomberg does not offer formal consultancy services. However, it works with clients to help them to analyse their data, to choose benchmarks and to set reports.
TCA provides actionable pre-route support by profiling an order and showing the best brokerstrategy combinations based on various benchmarks (arrival, VWAP, five minute reversion) by trader, trading team, the entire buy-side firm or Bloomberg’s peer universe of buy-side firms.