ITG has launched a transaction cost analysis (TCA) service for fixed income trades.
The agency broker said fixed income TCA will give institutional investors execution insight to improve fund performance, meet best execution requirements and comply with upcoming regulation.
Data for the TCA offering is based on more than 10 million daily quotes and trades, including inter-dealer quotes, FINRA TRACE information and ECN executions. ITG said it is able to aggregate a wide range of data due to being an agency broker.
The TCA covers major global corporate and sovereign bond markets, including bond futures and other debt asset classes. Fixed income TCA currently offers post-trade analysis, with pre-trade capabilities in development.
Kevin O’Connor, global head of analytic products at ITG, said: “Our fixed income TCA allows clients to aggregate and analyze their transaction data no matter where they execute their trades.
“This capability, along with flexible benchmarking, RFQ analysis and robust reporting supported by our global client service model differentiates us from existing offerings in the marketplace.”