Best Execution & TCA

Automated Best Execution Monitoring and Transaction Cost Analysis Solution for Financial Services

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Measure your trading performance and meet your regulatory requirements for Best Execution

The ability to demonstrate execution performance has grown in importance over recent years. Regulations like MiFID II have introduced increasingly strict Best Execution rules, requiring firms to provide evidence that they are acting in their client's best interests on all trades. However, gathering, benchmarking, and reporting on execution data has become increasingly time-consuming and complex due to the vast number of trading platforms firms today use, in addition to the wide range of instruments and asset classes they trade.

SteelEye’s comprehensive and asset class agnostic solution simplifies Best Execution and Transaction Cost Analysis (TCA) – enabling you to effortlessly demonstrate that Best Execution was achieved. The solution satisfies a wide range of needs across both Compliance and Trading functions and provides a data-centric approach to Best Execution analysis and monitoring.

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SteelEye Best Execution and Transaction Cost Analysis

Seamless navigation and workflow automation

SteelEye's Best Execution & TCA solution captures and normalizes your execution data from a range of trading platforms and order management systems. This is automatically enriched with external tick and reference data from a range of international exchanges. The SteelEye platform then enables seamless navigation of your execution data under a single lens. We also provide advanced workflow automation offering streamlined Best Execution monitoring, lowered data management costs, reduced compliance risk, and improved analytics.

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Best Execution Monitoring

Our Best Execution package enables you to effortlessly monitor and report on your execution quality. Best Execution reports can be easily built, scheduled, reviewed, and amended in the dashboard and exported in CSV format. The solution also includes readily available RTS 28 reports. As a result, compliance with your Best Execution monitoring requirements is effortless and hassle-free. 

FEATURES

  • Seamless data capture, normalization, and indexing

  • Drag-and-drop report builder covering a wealth of execution quality metrics
  • Readily available RTS 28 reports

  • Ability to easily review, validate, schedule, and export reports in CSV format

Transaction Cost Analysis

Our TCA solution analyzes your trading activity against a range of reference points, offering standardized metrics for internal assessments and comparisons against numerous industry-recognized benchmarks. This allows you to gain a comprehensive insight into the relative performance of your post-trade executions.

We also offer speedy back-testing and intelligent visualization tools that enable you to easily spot any outliers from your Order Execution Policy (OEP). Automated tests can be set up to send alerts any time an execution is made outside of your chosen thresholds. Cases can also be created to investigate and document any trades executed outside of the OEP to demonstrate ongoing Best Execution monitoring.

FEATURES

  • External tick and reference data from a range of international exchanges

  • Industry-recognized benchmarks and configurable metrics

  • Multi-asset class coverage 

  • Automated tests and alerts for executions made outside of your OEP

  • Intelligent case manager for investigations 

Benefits

Improve your trading performance

Our TCA helps you better understand your trading performance and identify possible strategies for improvement. 

Ensure execution quality

We automatically check your execution quality in the background, ensuring you keep meeting your regulatory obligations.

Effortlessly compile Best Execution reports

With SteelEye, you can quickly consolidate all order and trade data, making Best Execution monitoring effortless.

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