Execution cost is not a line in any statement, which is why it can go unmeasured for years at a time.
Overview
Who this is for
Corporates, funds and institutions that trade foreign exchange or derivatives through banks and brokers and have never seen the cost of that execution measured independently.
The traditional way
Cost is assumed to be nil because no fee is charged. The margin sits inside the rate, the provider reports on its own pricing, and there is no reference rate to compare it with.
The Audere approach
We rebuild each trade against independent inter-bank reference data for the moment it was executed, and report the difference in basis points and in currency. No estimate, and no provider-supplied benchmark.
How we work
You send us the trade file. We match every trade to reference pricing, calculate the cost, and present the result by counterparty, by currency pair and over time.
What you receive
A transaction cost report covering the period under review, the method behind it, and a view of which counterparties price you competitively and which do not.
The platform module behind it
Adda Trade Auditing (TCA), the transaction-cost module of the Audere Analytics platform, produces the measurement behind this service. [CONFIRM S7]
Every executed trade benchmarked against independent market data at the time of execution.
