BNP Paribas has partnered with the Itarle Group, a best execution algorithm order analytics provider, to offer buy-side clients with access to real-time Transaction Cost Analysis.
Access will be provided through the Itarle’s Vision product, meaning BNP Paribas clients’ will have direct access to an independently verified, unbiased TCA service, included as a part of the overall execution service.
By accessing real-time, dynamic performance analytics, clients will be able to make order decisions based on live flows, potentially reducing costs during the lifecycle of an order. Furthermore, detailed historical data is available to clients through an interactive web-based service, enabling clients to conduct thorough TCA analysis and make comparisons with other providers.
The TCA service also allows BNP Paribas clients to assess the quality of orders that have been executed using a mixture of both manual and algorithmic execution. This enables clients to evaluate multiple execution methods across the BNP Paribas service offering.
Gael Pottiez, Head of Product Development, Derivatives Execution & Clearing, BNP Paribas, said: “This tool provides our clients with full transparency over their execution quality, in real-time. With the implementation of MiFID II and further regulation anticipated addressing best execution, we believe this type of service will be expected across the industry and we are pleased to be leading the way.”
Paul Lynch, Founder of Itarle, said: “MiFID II has driven the need for accessible and scalable analytical services that enable buy-side clients to evaluate the execution quality received from their brokers.
“We welcome the Itarle Group partnership with BNP Paribas, and it has enabled BNP Paribas to quickly deploy a market-leading TCA service that can cover both manual and algorithmic execution. Ultimately, this service will help the clients of BNP Paribas to reduce market impact and improve execution performance and productivity.”