Execution and research broker ITG has released a new web-based tool that allows buy-side trading desks to monitor their execution performance in equity markets in real time.
Smart Trading Monitor increases the immediacy of transaction cost analysis (TCA) to let traders track and adjust orders if necessary to improve results.
Ian Domowitz, head of analytics at ITG, said, "Through Smart Trading Monitor, institutional traders and portfolio managers can now monitor trader and broker execution performance across a broad range of benchmarks and regions, taking into account historical and current market conditions, as well as the statistical deviation between them.
"The tool provides users the ability to rapidly identify outlier or sensitive trades, drill down for specific context at the broker, venue or security level, and take corrective action if necessary."
Smart Trading Monitor is part of ITG's Smart Trading Analytics suite of pre- and post-trade analytics and uses order and execution data routed over ITG's global FIX network. The tool is integrated with ITG's Triton execution management system and the firm's order management system as well as being compatible with other third-party platforms.