About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

big xyt Extends Analytics Platform to Include TCA Functionality

Subscribe to our newsletter

Following consultation with clients, independent data analytics provider big xyt has added Transaction Cost Analysis (TCA) to its platform. The company’s aim is to apply analytics to create a consolidated view of a fully automated trading environment that traders can access to assess trends.

big xyt solutions specialise in normalising and storing trade data. Using an automated reporting facility, or their own internal applications, clients can interrogate information for analyses such as broker review, sales, workflow optimisation, compliance and best execution.

Although TCA benchmarking calculations have not changed drastically over the years, there are growing market requests for transparency regarding how they are calculated and what they mean. big xyt has supported market makers through back-testing on its analytics platform, and is now leveraging its back-testing capabilities to serve clients searching for more transparency around TCA benchmark calculations, such as Volume Weighted Average Price (VWAP).

Robin Mess, CEO at big xyt, says: “What the community is seeking to understand is how VWAP is being calculated and which conditions code is being used. It also wants to decide based on its smart order routers or business which condition code should be used in the VWAP, just to make sure that it’s comparing executions against the right benchmarks. That means the community is asking for more transparency about not only aggregation, but also about the filters and datasets being used.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Enhancing trader efficiency with interoperability – Innovative solutions for automated and streamlined trader desktop and workflows

Traders today are expected to navigate increasingly complex markets using workflows that often lag behind the pace of change. Disconnected systems, manual processes, and fragmented user experiences create hidden inefficiencies that directly impact performance and risk management. Firms that can streamline and modernise the trader desktop are gaining a tangible edge – both in speed...

BLOG

Modern Data Platforms Empower Critical Use Cases: Webinar Preview

No longer is it enough for financial institutions to be simply “on top” of their data management architecture. They need to be constantly looking for the next innovation to keep them ahead of the game in this fast-moving space. That’s why modern data management platforms are the focus of so many organisations at the moment....

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...