Bloomberg Enhances TCA Tool
Posted by Colin Lambert. Last updated: January 10, 2024
Bloomberg has released Data Access, an extension of the firm’s transaction cost analysis solution, BTCA, which enables clients to access data through an API.
The firm says the new functionality allows customers to bring together trading data with Bloomberg Data License’s reference and pricing data to design and build bespoke data solutions on top of the BTCA framework using general-purpose programming language such as Python.
It further explains Data Access allows current BTCA customers to input complex queries to refine data for several use cases including trend analysis of broker and trader performance and integrating with data visualisation tools to generate actionable insights. The combined datasets provide clients with content for reporting and decision making, including trade data, which encompasses the full spectrum of a lifecycle data such as order characteristics. Additionally, benchmark data, provides the results of all benchmark calculations and context data that shows grouping for the executed trades.
“We are focused on the continued enhancement of our solutions as clients’ trading needs are constantly evolving with the markets,” says Ravi Sawhney, global head of trade automation & analytics at Bloomberg. “BTCA allows clients to analyse and monitor trading performance and provides them with tools to create customized reports using a range of factors, including peer benchmarks. The ability to use a broader range of data as they evaluate their transactions helps expand trading insights make better informed decisions to improve performance.”
Audrey Blater, senior analyst for Coalition Greenwich market structure and technology, adds, “Data is a significant driver of TCA adoption, and increased workflow electronification enables clients to benefit from a broader range of datasets. Our research shows that the buy-side continue to adopt TCA tools, and as client needs advance, systems providers are responding by continuously investing in their TCA solutions and offering enhanced features.”
