Transaction-Cost Analysis' Fixed-Income Evolution
TCA is moving from equities into fixed-income towards becoming a real-time analysis tool.
Transaction-cost analysis (TCA) has long been a part of asset managers' toolkit; systems have been in place for the best part of the past 25 years within capital markets firms and TCA for equities trading can be viewed as just another waypoint in the trading process. However, as the equities markets remain in the doldrums and continues to offer meager returns, focus is shifting toward other asset classes - in particular, foreign exchange (FX) and fixed income.
As liquidity continues to fragment
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