Elkins/McSherry

Elkins/McSherry

It scores the portfolio execution costs relative to institutional universes that are maintained and continually updated in the Elkins/McSherry database. The universes consist of trading costs from a large set of global institutional investors and asset managers. They are constructed so that trading can be compared against trade cost averages of like trades.

Asset classes and markets

The product offers analysis for global equity and
global fixed-income trading costs with analysis producing a detailed comparison
of total portfolio transaction costs, commissions, fees and market impact in 47
countries.

Transaction data

There are typically no range constraints regarding the transactional
data the firm can receive

Benchmarks

Elkins/McSherry uses industry standard benchmarks,
mainly implementation shortfall, interval VWAP, full day VWAP, available VWAP,
arrival price, participation weighted price, market on open, market on close
and previous night’s close. Any other benchmark is available upon request.

Reporting options

The service
offers daily, weekly, monthly, quarterly, semi-annual, and annual reporting.
Reports include an executive summary section highlighting the most important
points in bullet form and also includes a graphical section highlighting that
reporting period’s results as well as a trend analysis comparing previous
reporting periods.

Consultancy services

The firm works with clients to understand the
complexity of transaction cost analysis, with consultants operating with a high
level of customer interaction, providing ongoing trend analysis of the trading
cost environment.

Future plans

The company has plans to develop options TCA, as well as exchange traded fund specific TCA reporting. It is about to launch venue TCA, enabling clients to delve deeper into the trade, and provide analytics and light on the actual venues through which trades are being executed.