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Transaction Cost Analysis (TCA)

Transaction Cost Analysis


Tracking execution performance and optimizing execution strategies have never been easier with IB's new Transaction Cost Analysis reporting.
  • Comprehensive metric lineup: All industry standard metrics in one place, including:
    • Arrival Price
    • Price Improvement
    • Midpoint Performance
    • Interval VWAP, and more.
  • Immediate feedback: Generate reports on-the-fly for any date range - even today. Executions hit the reports in only 10 minutes.
  • Flexibility: Segment trade activity across a host of different dimensions, and then interactively drill segments down to view individual trades. Segmentation includes:
    • by exchange
    • by size
    • by security (or underlying, for options)
    • by expiration date (for options), and more.

New to Transaction Cost Analysis?

Transaction Cost Analysis is a reporting tool that tracks the quality of your orders' transaction prices versus market conditions either at the time the orders were submitted or after the trade executes.

The most common metric, Price Improvement, measures the actual transaction price your broker achieves for you versus the national best bid and offer at the time you submit a market order (or limit order priced to immediately execute). The best brokers, with access to the most liquidity, will often secure you transaction prices that are even better than the National Best Bid & Offer - Price Improvement. Interactive Brokers is renowned for earning its clients the highest levels of price improvement in the industry.

Our new Transaction Cost Analysis reports provide insightful summary as well as fully detailed trade-by-trade statistics that allow you to review the transaction prices that Interactive Brokers achieves for you.