Bloomberg Launches Data Enrichment Tool to enhance Transaction Cost Analysis

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Jan 10, 2024, 08:30 ET

NEW YORK, Jan. 10, 2024 /PRNewswire/ -- Bloomberg today announced the release of Data Access, an extension of Bloomberg's Transaction Cost Analysis solution (BTCA), which enables clients to access data more easily through an API. The new functionality allows customers to bring together trading data with Bloomberg Data License's (DL) high quality, market-leading reference and pricing data to design and build bespoke data solutions on top of the BTCA framework rapidly using general-purpose programming language such as Python.

Data Access allows current BTCA customers to input complex queries to refine data for several use cases including trend analysis of broker and trader performance and integrating with data visualization tools to generate actionable insights. The combined datasets provide clients comprehensive content for reporting and decision making. This includes trade data, which encompasses the full spectrum of a lifecycle data such as order characteristics. Additionally, benchmark data, provides the results of all benchmark calculations and context data that shows grouping for the executed trades.

"We are focused on the continued enhancement of our solutions as clients' trading needs are constantly evolving with the markets," said Ravi Sawhney, Global head of Trade Automation & Analytics at Bloomberg. "BTCA allows clients to analyze and monitor trading performance and provides them with tools to create customized reports using a range of factors, including peer benchmarks. The ability to use a broader range of data as they evaluate their transactions helps expand trading insights make better informed decisions to improve performance."

"Data is a significant driver of TCA adoption, and increased workflow electronification enables clients to benefit from a broader range of datasets," said Audrey Blater, Senior Analyst for Coalition Greenwich Market Structure and Technology. "Our research shows that the buy-side continue to adopt TCA tools, and as client needs advance, systems providers are responding by continuously investing in their TCA solutions and offering enhanced features."

Bloomberg BTCA delivers robust transaction cost analysis alongside Bloomberg's global market data across a wide range of trading benchmarks and asset classes. BTCA offers impactful trading insights that help clients create and monitor their best execution strategies. Using BTCA's powerful exception-based workflows, traders can help ensure they meet a firm's compliance and execution policies and provides risk team with granular details of the entire trade flow life cycle.

Should customers wish to further enrich their data, Bloomberg Data License content spans Reference, ESG, Pricing, Risk, Regulation, Fundamentals, Estimates, and History covering more than 70 million securities and 40,000 data fields. Customers can browse, examine and subscribe to enterprise datasets at data.bloomberg.com, and efficiently access this content via a REST API, SFTP or natively in all major cloud providers.

About Bloomberg
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SOURCE Bloomberg