RealTick Adds Ancerno Cost Analysis
January 10, 2012
Firms that trade on the RealTick Execution network can now utilize the advanced transaction cost analysis software and execution consulting services provided by Ancerno Ltd., as the result of a partnership announced January 10 between the two firms.
“As traders face increasing demands for performance and profitability, TCA is no longer a luxury, but an integral part of trading and investment strategy,” says ConvergEx’s RealTick CEO Stuart Breslow. RealTick is one of the ConvergEx group of companies.
Ancerno provides pre-trade analytical tools to estimate trading costs; real-time tools to monitor trading results as orders are being executed; and post-trade tools for traders, brokers and Investment managers to measure trading performance and gauge that against the performance of peers.
“With over 130 pre-set (trading) measures, Ancerno’s Web-based trading analytics cover the full trading cycle, from portfolio manager, to trader to execution venue,” says James Noser, president of Ancerrno, based in New York. “With this agreement, RealTick customers can make even more informed execution decisions.”
RealTick is a provider of trading technology for traders seeking the best execution performance for their investment and trading strategies. As of this summer it had approximately 1,100 buy-side clients and 120 sell-side clients.
RealTick customers can chose a basic compliance product, a full-featured software-only product or a package that combines software and consulting.
“The offering really runs the gamut in terms of buy-side customers who might benefit,” says Breslow. “They include asset managers, money managers, [pension funds], [hedge funds] and [broker-dealers]. The basic software package offered is mostly for clients who are looking to meet best execution compliance. The advanced package is for more sophisticated, self-service clients who have disciplined best execution policies and procedures in place and are looking for a single, global, independent TCA software product to provide consistent reporting throughout the trading life cycle.”
As for the software and consulting offering, Breslow says that is aimed at either a novice client who needs better understanding of transaction costs and compliance risk, “Or it’s for a more advanced client looking for an independent third party looking to evaluate their end-to-end process of transaction costs.”
An Abel Noser Company, Ancerno has 500 global customers. Both Ancerno and RealTick are based in New York City.
