UBS Introduces Real-time TCA in Europe

UBS Investment Bank launched Real-time Transaction cost analysis in Europe so that clients can monitor their algorithmic strategies as they are executing and still affect the order’s outcome.

The tool, Real-time Transaction, is available via UBS Fusion, the firm’s equity trading analytics platform, which provides TCA, pre-trade and alerts, as well as consulting and support services. The tool was launched for U.S. clients in September 2008.

Previously, post-trade analysis was sent to clients at the end of the trading session, day or month to help evaluate an algorithmic trading strategy’s effectiveness. Now, with the rollout of Real-time Transaction, clients will have the ability to monitor how their orders are performing while they are still executing and there is time to affect the order’s outcome, stated today’s release.

While UBS Fusion’s real time analysis continuously updates the live orders as they execute, clients can monitor how the orders are performing across all venues, including the exchanges, and alternative pools of liquidity.

“Since post-trade analysis is, by definition, the assessment of past performance, it cannot add optimal value to dynamic trading decisions,” stated Phil Allison, Head of European Equities Trading Execution at UBS in the release. “Giving our clients Real-time TCA while their orders are still active, means they are able to monitor and react before the order completes— making it a valuable decision-making tool for traders,” added Allison in the company’s release.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio