Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

Traders Poll

Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

No

5%

The CFTC will push for regulation

21%

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November 11, 2008

UBS TCA Lets Traders Coach Their Orders

By James Ramage

A new UBS trade-cost analysis tool helps traders update their strategies while they are executing. The firm's real-time TCA gives buyside clients continuous, real-time analytics and access to their order flow on a symbol, venue, trader or client level.

As fills come in, the tool delivers real-time analytics, said Jatin Suryawanshi, Americas head of algorithmic trading at UBS. It gives traders a live view of the day's trades, which they can then filter according to their requirements, such as by their own trader ID, stock type, algorithm type or to see their DMA orders.

Real-time TCA is part of Fusion-UBS's Web-based analytics platform-which is integrated with the firm's Pinpoint execution management system.

Using real-time TCA, traders can monitor where they are executing their trades, as well as the performance of their algorithms and how they've met their benchmarks. Traders can then adapt to market conditions by adjusting an order's parameters or changing algorithms on a real-time basis, Suryawanshi said.

"Imagine if you were coaching a sports team and weren't allowed to talk to your players during a game," he said. "It's going to be much harder to affect the outcome than if you had the ability to read the field and give the team feedback while the game was still being played."

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