BST Awards 2019: Best buy-side TCA tool—Tradeweb Markets

For the third straight year, Tradeweb takes home the transaction cost analysis (TCA) crown. This win ties Tradeweb with ITG (2012–2014) for the most consecutive wins in the TCA category.

There are two main challenges firms face when it comes to TCA, especially in the fixed-income space. First, there’s a dearth of high-quality data, and second, it’s difficult to make sense of what does exist. More than 40 products are traded on Tradeweb Markets each day, and on average, its platform handles $630