US-based performance and market quality assessment firm, the Transaction Auditing Group (TAG), has launched Meteor, a customisable analytics platform that enables firms to create their own transaction cost analysis (TCA) and execution quality tools.
Meteor is designed to facilitate the creation and customisation of reports that measure and rank trade performance, market quality and trading execution. It aims to allow users to analyse their trade data any way they choose at a given moment.
The platform allows firms to mix and match benchmarks with customised metrics, to create trade analysis reports from the market level down to the single-stock order and trade execution levels.
The offering is built on TAG's direct market data feeds and historical archives and includes industry standard and customised trade performance and execution quality metrics, data filters and result groupings.
“With the recent levels of market volatility and growing regulatory scrutiny over handling and execution quality, firms now more than ever need to break out of their dependence on standardised tools for TCA and execution quality,” said Roger Post, executive vice president at TAG.
TAG is currently working on a new web-based platform, for release in Q2 2011, that will provide coverage across the US and Canadian institutional and retail markets for equities and options.