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FactSet Transaction Cost Analysis from FactSet
Multi-asset TCA solution integrated with FactSet's analytics platform. Offers pre-trade analysis, post-trade reporting, broker evaluation, venue analysis, and regulatory compliance tools. Combines market data with execution data to provide comprehensive trading insights.
Product analysis by function
Trade Cost Analysis (TCA) Systems for Trading & Execution
Tools that analyze trading performance and costs, comparing actual execution with benchmarks to evaluate trader performance and identify opportunities for improvement in execution strategies.
More Trade Cost Analysis (TCA) Systems
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Data Integration & Connectivity
(6 Yes /6 Known /8 Possible features)
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Multi-Venue Connectivity Ability to connect to multiple trading venues (exchanges, dark pools, OTC, etc.). |
FactSet TCA supports execution venue and broker analysis, indicating connectivity to multiple venues (exchanges, brokers, etc.). | |
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Real-Time Data Ingestion Supports real-time streaming and ingestion of market, order, and trade data. |
FactSet TCA provides real-time pre- and post-trade analytics, which requires real-time data ingestion capabilities. | |
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Batch Data Upload Ability to upload historical or batch data for analysis. |
Historical TCA analysis and reporting is a core feature, implying batch data upload is supported. | |
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Third-Party Integration Ease of integration with third-party OMS/EMS, data providers, and portfolio systems. |
Integration with OMS/EMS and other FactSet/third-party systems is called out in product literature. | |
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API Availability Provision of APIs for programmatic data access and system integration. |
API connectivity for integration and data access is a standard FactSet offering. | |
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Supported Data Formats Number of industry-standard data formats supported (FIX, CSV, XML, JSON, etc.). |
No information available | |
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Automated Data Validation System automatically validates, cleans, and enriches incoming data. |
Automated data validation and standardization are required for the analytics/compliance workflow in TCA systems like FactSet. | |
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Latency for Real-Time Feeds Round-trip latency for real-time market and order data ingestion. |
No information available |
Analytics & Metrics
(10 Yes /10 Known /10 Possible features)
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Comprehensive TCA Metrics Calculates a full suite of pre-, intra-, and post-trade cost benchmarks (VWAP, TWAP, Implementation Shortfall, arrival price, etc.). |
FactSet TCA provides full suite: pre-, intra-, post-trade analysis (VWAP, TWAP, arrival price, etc.). | |
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Custom Benchmarking Supports user-defined benchmarks in addition to standard metrics. |
Product supports custom benchmarks as per user requirements. | |
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Peer Comparison Allows comparison of trading performance with peer groups or industry benchmarks. |
Peer comparison features are available for evaluating trading performance against market/industry groups. | |
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Strategy & Algo Analysis Ability to measure and compare performance of different trading strategies and algorithms. |
Supports performance analysis of strategies and algos, as described in product overviews. | |
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Market Impact Modeling Calculates short-term and long-term market impact of trades. |
Market impact modeling is featured (measure of costs, adverse price movement, etc.). | |
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Slippage Measurement Measures slippage versus various benchmarks. |
Slippage versus benchmarks (VWAP arrival price, etc.) is a core part of TCA output. | |
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Liquidity Analysis Provides analytics on market liquidity at different points in time. |
Product literature references liquidity analytics for venues, brokers, and time periods. | |
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Execution Venue Analysis Breaks down trade cost and quality by execution venue. |
Venue analysis (cost/quality per venue) is highlighted in features. | |
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Latency Analysis Measures end-to-end execution latency for trades. |
Execution latency measurement is indicated as part of trading performance analytics. | |
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Volume-Weighted Metrics Calculates trading costs weighted by order/trade volume. |
Volume-weighted measures (VWAP, Implementation Shortfall) are fundamental to TCA. |
Reporting & Visualization
(7 Yes /7 Known /9 Possible features)
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Interactive Dashboards Dynamic dashboards for visualizing TCA outputs and KPIs. |
Customizable, interactive dashboards are highlighted in web materials and product screenshots. | |
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Custom Report Generation Ability to design and schedule tailored reports. |
FactSet TCA offers custom report generation/scheduling, as per documentation. | |
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Automated Distribution Automated emailing or secure publishing of scheduled reports. |
Automated report/email distribution is described as available. | |
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Drill-Down Capabilities Allows users to click through from aggregated to granular data in reports. |
TCA dashboards typically support drill-downs from aggregate to individual trade level. | |
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Export Options Supports report/data export to Excel, PDF, CSV, image, etc. |
Export to Excel, PDF, CSV, etc. available for all reports/analytics. | |
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White-Labeling Ability to customize branding and appearance for clients. |
No information available | |
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Dashboards Customization Number of user-customizable widgets or components in dashboards. |
No information available | |
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Real-Time Updates Dashboards and reports update in real time as data arrives. |
FactSet indicates dashboards update in real time as new data is available. | |
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Mobile Access Availability of mobile-friendly reports or dashboards. |
Full web access and mobile-friendly reports are offered per FactSet's platform-wide design. |
Regulatory Compliance
(5 Yes /5 Known /6 Possible features)
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Audit Trail Maintains immutable and tamper-evident logs for all data and user actions. |
Audit trails and compliance features referenced for regulatory workflows. | |
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Best Execution Analytics Provides evidence and documentation of best execution in line with regulations. |
Best execution proofs/documentation in accordance with regulations are provided. | |
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Regulatory Reporting Automation Generates and submits reports required by regulators. |
Regulatory reporting automation (MiFID II, etc.) commonly listed as feature. | |
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Real-Time Alerts for Rule Breaches Automated alerts for pre-defined compliance breaches or anomalies. |
Real-time alerting for compliance breaches cited in documentation. | |
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Data Retention Configuration Adjustable retention period for audit and trade data. |
No information available | |
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User Access Logging Tracks and logs all user access and permission changes. |
User access logging is a standard feature for major TCA vendors for compliance purposes. |
Performance & Scalability
(1 Yes /1 Known /5 Possible features)
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Maximum Throughput Maximum number of trades handled per second. |
No information available | |
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Analytical Processing Speed Average time to complete a typical TCA analysis workload. |
No information available | |
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Scalable Architecture System automatically scales with increased data or user demand. |
System described as scalable to both high volume and high user demand on web resources. | |
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Concurrency Support Number of simultaneous users supported without performance degradation. |
No information available | |
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Batch Processing Capacity Maximum size of historical/batch data that can be processed in a single run. |
No information available |
Data Security & Privacy
(5 Yes /5 Known /6 Possible features)
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Data Encryption Data at rest and in transit is encrypted using best practices. |
Reference made to data encryption at rest and in transit in security materials. | |
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User Authentication Methods Number and types of authentication methods supported (password, SSO, MFA, etc.). |
No information available | |
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Granular User Permissions Supports detailed permissions down to individual screens or data sets. |
Granular user and permissions model referenced in user admin sections. | |
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Data Anonymization Ability to mask or anonymize trade details for privacy. |
Anonymization available for reporting/sharing per privacy statements. | |
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Regular Security Audits Platform is routinely audited for security vulnerabilities. |
FactSet states regular third-party audits for cyber and data security. | |
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Compliance Certifications Holds certifications (e.g. ISO 27001, SOC 2) related to information security. |
Compliance certifications (SOC, ISO, etc.) referenced on FactSet compliance pages. |
User Experience & Accessibility
(4 Yes /4 Known /6 Possible features)
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Intuitive UI User interface is straightforward and easy to navigate for non-technical users. |
FactSet's user interface is widely regarded as intuitive and industry-leading. | |
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Multi-Language Support Supports multiple languages for global teams. |
Multi-language support available as an enterprise platform. | |
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Accessibility Features Support for accessibility features (screen readers, high contrast, keyboard navigation, etc.). |
No information available | |
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User Training Materials Availability of detailed documentation, walkthroughs, and training resources. |
Comprehensive documentation, webinars, help resources are available. | |
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Contextual Help In-app help and guided tours to assist users. |
No information available | |
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Personalized User Settings Users can personalize dashboards, alerts, and preferences. |
Personalized user settings for dashboards, alerts, etc. are part of the platform. |
Customization & Extensibility
(5 Yes /5 Known /5 Possible features)
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Custom Analytics Modules Ability to design and deploy customized analytics or plug-ins. |
Custom analytics (e.g. custom KPIs, plug-ins) can be configured or developed. | |
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User-Defined Workflows Users can configure or automate bespoke analytical workflows. |
User-defined workflows and process automation via the FactSet platform. | |
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Open API/SDK Availability of open-source SDKs or public APIs for extensibility. |
Open API and SDK for integration and extensibility are available. | |
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Scriptable Analytics System allows execution of user-created scripts in Python/R/etc. for bespoke analysis. |
Scriptable analytics supported through FactSet's analytics engine (including Python/R add-ins). | |
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Integration with BI Tools Supports connections to third-party business intelligence software (PowerBI, Tableau, etc.). |
FactSet supports integration with BI tools (Power BI, Tableau, etc.). |
Asset Class Coverage
(5 Yes /5 Known /5 Possible features)
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Equity Coverage Supports detailed TCA for equities (listed stocks, ETFs). |
Main TCA use case is equities (stocks, ETFs). | |
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Fixed Income Coverage TCA for government, corporate, municipal bonds, etc. |
FactSet explicitly lists fixed income coverage (e.g., bonds) for its TCA. | |
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FX and Derivatives Coverage TCA for foreign exchange, futures, options, and other derivatives. |
Foreign exchange, futures, options and other derivative coverage available per marketing materials. | |
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Multi-Asset Aggregation Single, cross-asset TCA across portfolios. |
Multi-asset, cross-portfolio TCA aggregation is prominently advertised. | |
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Custom Instrument Support Can add and analyze custom or exotic financial instruments. |
Support for custom/exotic instrument analysis is available under advanced analytics options. |
Vendor Support, SLAs & Maintenance
(3 Yes /3 Known /5 Possible features)
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24/7 Technical Support Vendor provides round-the-clock technical support. |
FactSet offers 24/7 technical support to its global client base. | |
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Dedicated Account Manager Each client is assigned a specific single point of contact. |
Dedicated account managers assigned to enterprise clients per standard FactSet service. | |
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SLA Uptime Guarantee The guaranteed maximum system downtime per year. |
No information available | |
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Regular Product Updates Frequency of functional and security updates released per year. |
No information available | |
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Knowledge Base & Community Vendor maintains an updated technical knowledge base and community forum. |
FactSet maintains a comprehensive support knowledge base and community forums. |
Total Cost & Commercials
(3 Yes /3 Known /5 Possible features)
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Transparent Pricing All cost components are clear and comprehensible. |
Transparent pricing policy with detailed cost breakdown is mentioned in commercial docs. | |
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Flexible Licensing Choice of licensing (user-based, asset-based, enterprise site, SaaS, etc.). |
Flexible licensing models, including SaaS and enterprise agreements, are available. | |
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Implementation Fees Clear disclosure of one-time implementation or onboarding fee. |
No information available | |
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Pay-Per-Use Option Usage-based billing is available. |
Pay-per-use billing models are included among FactSet's commercial options. | |
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Total Cost of Ownership (TCO) Dashboard Platform provides tools to estimate and monitor TCO. |
No information available |
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