Abel Noser Solutions, a specialist in Transaction Cost Analysis (TCA) in equities, preferreds, FX and futures, is now offering coverage of a new asset class – fixed income.
From customised reporting to higher level executive summary views, fixed income TCA aims to provide clients with clarity into the cost of their trades, best execution analysis and best practices. In addition, Abel Noser Solutions’ spread-based methodology and peer benchmarking offers institutions a relative view versus other bond participants trading similar securities. All of this functionality and analysis is offered on one platform and is consistent with clients requesting centralised software services when analysing trading across multiple asset classes.
“Fixed income TCA presents challenges not found in other asset classes, particularly in price discovery,” says Ted Morgan CEO, Abel Noser Holdings. “It is not a transparent market – there is no consolidated ‘tape.’ Dealers do not publish quotes or traded volume to the public. There’s a reason that fixed income TCA has not taken off before now.”
“But after an early start working with clients on special projects in this asset class, we now believe that this is the perfect time to launch this product to the entire marketplace,” says Morgan. “After conducting an extensive listening tour over the past six months, this product request was the overwhelming favourite among our client base.”
Peter Weiler (pictured), President of Abel Noser Solutions, adds: “Given the increased regulatory environment, not only in fixed income but in other asset classes, in addition to greater transparency in an area that was very opaque, we see this product assisting traders, portfolio managers and compliance officers to manage their trading costs while helping them with their fiduciary responsibilities.”