US-headquartered global financial technology and solutions provider, Markit, listed on the Nasdaq under ticker MRKT, today announced that its Transaction Cost Analysis (TCA) data has been integrated into FlexTrade Systems’ execution management system (EMS) platform FlexTRADER EMS, according to an official announcement.
As part of the new integration into FlexTrade’s multi-asset portfolio and single stock trading system, Markit’s TCA data will enable FlexTRADER EMS platform users to obtain relevant pre-trade data and TCA-related tools aimed to improved the order-routing experience.
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In addition, access will be provided to mutual customers of Markit and FlexTrade who can obtain detailed pre-trade data and post-trade analysis reports on the day after trades (T+1 basis) through a portal on Markit’s website.
The news follows just two days after FlexTrade announced that it selected RSRCHX for its institutional research that it made available on its FlexTRADER EMS product as reported by Finance Magnates.
We’ve implemented this in response to significant demand from our customers.
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Pre and post trade analysis
Andy Mahoney, head of Business Development at FlexTrade, said in a statement regarding the deal: “We are delighted to announce our partnership with Markit, offering expanded TCA datasets and comprehensive post-trade analysis.”
Mr. Mahoney further explained: “We’ve implemented this in response to significant demand from our customers. This integration with Markit’s TCA data further supports our strategy of offering open-architecture broker-agnostic solutions for the buyside.”
Performance-based order routing
Commenting in a corporate statement, Michael Aldridge, global head of Trading Services at Markit said: “We are excited to streamline the TCA data process for FlexTrade and Markit customers through this new integration.”
Mr. Aldridge added: “Our TCA reports help customers manage performance-based order routing and optimal trade strategy selection by delivering forecasts of estimated market impact, trade risk, peer comparison data and other metrics.”
Earlier this year, Markit announced plans with IHS to merge, in a transaction that was valued at$13 billion, as detailed by Finance Magnates in a related post at the time.