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*This is not a comprehensive list of transaction cost analysis providers. Advanced Trading invited other providers to participate in the directory, but they could not submit their information by press time. Providers entered their own information, which has been edited for space. For more information on these providers, as well as additional directories of trading technology firms, see our online directories at www.advancedtrading.com/directories.
Abel Noser/Ancerno Ltd.
Trade-Zoom
Description of Service
Abel Noser TCA services is a leading global solution focusing on the needs of the institutional money management, brokerage, plan sponsor and investment consultant communities since 1985. Ancerno, Ltd. is a leading wholesale provider of TCA services. Ancerno works with custodian banks, brokers, OMS/EMS providers and others to deliver a full range of pre-trade, real-time and post-trade products and services. Ancerno was spun off from Abel Noser in 2007 to create a wholesale broker-neutral TCA provider.
From where does the service get transaction data?
Trades data is received directly from client OMSs. Trades data is then married with market data from leading data vendors and in some cases directly from exchanges.
How frequently is data collected?
Data is collected as frequently as next day with real-time data collection expected in Q4 2010.
How is the data analyzed?
Trades data is compared to market data segments around the globe. Data is analyzed for consistent historical patterns and outlier trades, which enables our trade consultants to make actionable recommendations.
What criteria are used to measure broker execution?
Brokers are measured vs. both strike price and volume test metrics. Moreover, brokers are designated unique stock-level weightings to capture trade difficulty.
Are pre-trade estimates and intra-trade analysis available?
Yes. Pre-trade estimates are available and users may change the default to anticipate future market conditions.
Is data real-time for pre-trade estimates and intra-trade analysis?
Real-time web-based pre-trade estimates are expected in Q4 2010. Currently this offering derives pre-trade estimates from data analyzed up until one day prior to trade date.
Is data for post-trade analysis real-time, end-of-day or following day?
Real-time post-trade is expected in Q4 2010. Currently post-trade analysis is offered as frequently as the following day.
Contact Information
Peter Weiler
646-432-4000
www.abelnoser.com
Allison Keane
646-884-6456
www.ancerno.com
Bank of America Merrill Lynch
Bank of America Merrill Lynch...