Measure for Measure
ASK THE BUY SIDE
Waters: What role does transaction cost analysis (TCA) play in your firm?
Frédéric Pons, SG Asset Management: We have several reasons why we adopted it. The first reason is the need for asset managers to manage the whole best execution process. TCA is just a part of best execution that has to be highlighted.
In our view, best execution is more an obligation of the process than an obligation of the result. The execution is only a part of the whole process. Having TCA is the proof that you are
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