A dynamic and interactive analysis of your trades marked to various performance benchmarks measured in basis points that grouped in different categories or on a per-order basis. Transaction Cost Analysis applies to trades of any instrument type and is typically available ten minutes after a trade is executed and is available from the Reports > Other Reports menu in Client Portal.
Each executed trade in the period of the analysis is marked to a series of performance benchmarks with the results displayed in multiple interactive tables. You can drill down in a variety of categories, including trade date, order side, exchange, trade price and underlying, to see how each trade performed when compared to the benchmark. The performance of a trade is calculated by marking the trade price to each benchmark. A positive number indicates that the trade worked in your favor; a negative number indicates that the trade did not work in your favor.
Definitions of all terms and performance benchmarks used in the Transaction Cost Analysis are located in this section of the Traders’ Glossary.