Trading Execution Analytics & TCA Platform
Overview
zeb’s Trading Execution Analytics & TCA Platform enables capital markets firms to systematically measure, explain, and reduce trading costs across venues, brokers, and algorithms. Built on a governed Trading Analytics Lakehouse, the platform consolidates order lifecycle data, market data, and fee schedules into a unified execution intelligence layer.
By combining pre-trade, intraday, and post-trade analytics with predictive ML models, the platform transforms fragmented OMS, EMS, and router data into actionable cost insights. Traders gain real-time visibility into slippage and market impact, quants access historical performance libraries for strategy refinement, and compliance teams receive audit-ready best-execution documentation. The result is a continuous feedback loop between analytics and execution decisions that reduces implementation shortfall and strengthens regulatory alignment.
Key Offerings
Unified Execution Data Fabric
Consolidates parent orders, child slices, fills, routing tags, quotes, and fee schedules into a single governed lakehouse environment with full lineage and reconciliation controls.
Comprehensive Transaction Cost Analytics
Calculates explicit costs and implicit costs (slippage, market impact, spread capture), decomposing implementation shortfall into delay, execution, and opportunity components.
Intraday Execution Monitoring
Provides live dashboards and tolerance alerts when orders deviate from benchmarks such as arrival price or VWAP, enabling corrective action while orders are still active.
Strategy, Broker & Venue Optimization
Generates performance scorecards across asset classes and liquidity regimes, identifying where routing, participation caps, or algo parameters require adjustment.
Predictive ML Cost Models
Pre-trade cost forecasting models estimate expected impact and liquidity risk, guiding smarter routing and scheduling decisions.
Best-Execution & Compliance Reporting
Delivers regulator-ready TCA documentation aligned to MiFID-style best-execution standards and internal governance policies.
Deliverables
Trading Analytics Lakehouse
A production-ready execution data architecture integrating OMS, EMS, router, broker, and market data into structured bronze, silver, and gold layers.
Benchmark & Cost Metric Library
Pre-computed arrival price, VWAP/TWAP windows, spread statistics, volatility measures, and impact models stored as reusable analytics assets.
Post-Trade TCA Dashboards & APIs
Drill-through analytics by strategy, trader, venue, broker, instrument, and time-of-day with full cost attribution transparency.
Intraday Monitoring Framework
Live execution panels with slippage tracking, deviation alerts, and actionable recommendations embedded into dealer workflows.
Strategy & Routing Simulation Tools
Scenario engines to test alternative routing or strategy mixes on historical flows, estimating potential cost impact.
Documentation & Training
Implementation guides, governance standards, and user training for trading, quant, risk, and compliance teams.
Differentiator
1. Unified Lakehouse Architecture:Tick-level OMS, EMS, routing, and broker data consolidated into a single governed execution dataset.
2. Closed Feedback Loop:TCA insights feed directly into routing configurations, algo parameters, and broker scorecards rather than remaining static reports.
3. Low-Latency + Historical Analytics:Intraday alerting and long-term back-testing operate on the same integrated platform.
4. Predictive Execution Intelligence:ML models forecast market impact and liquidity conditions to guide proactive routing decisions.
5. Cross-Functional Governance:Shared execution data supports consistent narratives across trading, quant, risk, and compliance teams.
6. Regulator-Ready Transparency:Structured audit trails and benchmark attribution simplify responses to client and supervisory queries.
7. Capital Markets Expertise:zeb combines deep trading domain knowledge with scalable lakehouse engineering to deliver measurable cost reductions.