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: High-Performance Networks & Low-Latency Connectivity for Trading

With financial markets becoming more complex and interconnected in today’s electronic trading environment, trading firms, exchanges, and infrastructure providers need to continually push the boundaries of network performance to stay ahead. Ultra-low latency, seamless connectivity, and resilient infrastructure are no longer just advantages – to stay competitive, they’re necessities. This webinar, part of the A-Team...

BLOG

From Monolithic to Agile Architectures in High-Performance Trading Systems

In this special episode of FinTech Focus TV, filmed live at TradingTech Summit 2025 in Canary Wharf, Toby sits down with Jon Butler, Co-Founder & CEO at Velox, to explore the evolution of trading technology. From the rise of buy-and-build models to the real impact of AI and automation, Jon shares insights on what’s shaping...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

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...