Transaction cost analysis is the measurement of what trading actually cost — spread, fees, impact and timing — against a benchmark such as arrival or VWAP. It is how an institution knows whether its execution was good.
Did we get a fair price? How much did our own size cost us? Was the counterparty's quote competitive? TCA turns those from opinions into numbers a board, auditor or shareholder can check.
Pre-trade TCA estimates the cost before you trade, so you can choose the cheapest method. Post-trade TCA scores the fill after, as evidence. EnsoTrade does both, independently of the desk.
EnsoTrade prices a large order against live order books across venues — which venues to use, what size each piece should be, and whether to rest an order or cross the spread. It is independent measurement, not execution: your own desk or execution partner keeps placing the orders on its own accounts, and we never touch custody, keys or funds. Before a window we price it at your real clip size on the venues you can use; after a window we score the fill with full workings. We quote no price or saving until you give your real clip size and fee stack — then the number is yours to check.
Price an order before you trade and score the fill after, on live multi-venue order books. We never touch custody, keys or orders — the independence is the point.
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