- Product Available to Users of ANS' Industry-Leading Trade-Zoom™ Trade Cost Analysis Platform
NEW YORK, Oct. 31, 2014 /PRNewswire/ -- Abel Noser Solutions (ANS) announced today it has launched an innovative new product that takes trade cost analysis (TCA) to a whole new level. ANS now offers customers the ability to measure execution quality at the fill level. The product is available to users of ANS' industry-leading TCA platform, Trade-Zoom™, or through reports delivered via e-mail.
"The introduction of this new feature catapults Abel Noser Solutions to the front of the pack in fill measurement—an area of considerable interest to our clients right now. We can now evaluate whether each and every individual fill conforms with the trader's intention, and whether high-frequency quote manipulation affected our client's prices," said ANS Chief Operating Officer Ted Morgan. "With the addition of fill measurement to the Trade-Zoom platform, ANS continues to demonstrate that we are the leaders in providing the tools and data traders need to get the best execution."
The new product analyzes the National Best Bid and Offer (NBBO) as well as quote activity at specific trading venues, evaluating fills at the precise millisecond that the trades are executed. The product determines whether fills occurred with the spread, measured as a count or weighted average. It also looks at the difference between executed trades and the midpoint. Users can analyze a number of other reference points using interactive pivot tables or through standardized reports.
To develop the product, ANS constructed a detailed record of quote activity in the U.S. and a simulated consolidated tape in Europe. Fill measurement has a number of applications, including evaluating algorithmic execution, venue toxicity, spread capture and the detection of adverse gaming.
About Abel Noser Solutions
Abel Noser Solutions is an independent, broker-neutral Transaction Cost Analysis (TCA) company, measuring over $7.5 trillion dollars in traded principal annually in equities, and $3.5 trillion in FX. ANS provides comprehensive pre-trade, real-time and post-trade tools to institutional investors through Trade-Zoom™, its industry-leading, web-delivered suite of analytic tools. Each day, ANS collects trade data from over 500 firms, and market data from over 70 global exchanges and trading venues, covering over 40,000 stocks and 215 currency pairs, representing one of the most comprehensive views of the industry. Clients receive actionable analysis at every point in the trade lifecycle from ANS' innovative suite of products.
SOURCE Abel Noser Solutions