Order management system provider Linedata is offering trade-cost analysis to the buyside clients it shares with analytics vendor Ancerno.
By making Ancerno’s post-trade TCA available via Linedata’s LongView OMS, buyside traders can send data directly to Ancerno via the OMS system.
"Linedata and Ancerno have several clients in common, and the goal was to make our services as turnkey as possible and available at the lowest cost," said Ancerno president James Noser.
He added that both firms’ users can access the TCA tools on a common platform and see their results through Ancerno’s secure Web site. Trading performance is evaluated as settlement day plus one.
Noser said Ancerno clients using the Linedata OMS–mostly long-only investors and hedge funds–requested the service.
Ancerno’s TCA is resold through agency broker Abel/Noser, from which it was spun off in 2007. The cost of the TCA is included in the fee Abel/Noser charges customers for its basic suite of services.
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