Deutsche Bank's TCA products embody a three-part approach to providing rich, detailed information and tools for the entire trading lifecycle. First, pre-trade tools include single-stock market impact modelling, block pricing and portfolio optimisation tools available through the Autobahn App Market to allow for hands-on evaluation and management of trading costs. Second, post-trade reporting offers in-depth and customisable trading information to allow analysis by almost any characteristic, including security, sector, strategy, liquidity range, and trader. Third, the Execution Consulting Services (ECS) team provides customised reporting services and a consultative approach to trade analysis.
Asset classes and markets
TCA products are available globally for equity trading, and support for FX and credit coverage is in development.
Automatically includes all relevant trading flows in client analyses, including client orders, strategy submissions (child orders) and individual executions, in order to provide the greatest possible level of detail. Also supports multiple types of aggregation.
DB offers a variety of dynamic benchmarks to evaluate a trader’s performance. These include market open price, arrival price, day VWAP, interval VWAP, marketable VWAP, five/10/15/30/60-minute market snap prices, day close, and previous day close. Custom benchmarks are also available.
Currently, standard post-trade reports are available after market close. The standard format is PDF, but Excel-based reports and custom solutions can also be supported.
The ECS team provides a range of consultative options from custom post-trade reporting to in-depth performance reviews and strategy customisation in conjunction with the Autobahn algorithmic trading team.
DB’s pre-trade market impact and block pricing models use factors such as market volatility, participation rate, liquidity and trading strategy to estimate execution costs. These are available today on the Autobahn App Market.
DB TCA products will increasingly support global views across all trade flows, to provide a ‘one-stop-shop’ view of clients’ trading activity and performance. The bank also plans to make post-trade data available via the Autobahn App Market.