Analysis paralysis

The discipline of transaction cost analysis (TCA) for buy-side firms has taken a non-stop roller coaster journey over the past five years. A growing number of technology vendors and brokers have created TCA tools that they actively pitch to buy-side trading desks and the pace of development has accelerated over time. Initially, a technology vendor like Wisconsin-based Plexus would take trade data from its clients, analyse it against a set of benchmarks and churn out quarterly reports for the