LiquidMetrix launches fixed income TCA with data from Trax

LiquidMetrix branches out its TCA offering to the credit markets after reaching agreement to use Trax fixed income data.

Transaction cost analysis (TCA) specialist LiquidMetrix is expanding its offering to cover fixed income markets with the help of data provider Trax.

Using specialist fixed income data from MarketAxess-owned Trax, LiquidMetrix will be able to offer its clients best execution performance measurements for the credit markets. It already provides best execution, TCA and surveillance services for equities and FX.

LiquidMetrix said it is responding to increased demand for multi-asset analysis, which will come under tighter scrutiny as part of MiFID II, which is set to be introduced in early 2018.

“We are very pleased to be sourcing our fixed income data from Trax as this gives us the widest range of pricing data available from any source on credit markets”, explained Sabine Toulson, managing director of LiquidMetrix.

“This new data provides a great enhancement to our existing best execution and TCA services offering the highest quality of benchmarking in the financial industry available today to our customers.”

Trax has been providing capital market data, tade matching and regulatory reporting to the global securities market since 1985 and was acquired by fixed income market operator MarketAxess in 2013.

LiquidMetrix is a brand of Intelligent Financial Systems (IFS) and provides independent trade execution analysis to tier 1 banks, brokers, asset managers and trading venues. It offers best execution assessments, TCA and pre-trade cost prediction, as well as surveillance services. IFS is owned by The TRADE’s parent company Asset International.