Trading Technologies International, Inc. (TT), a global capital markets technology platform services provider, today announced that Bowmoor Capital, a London-based global macro investment advisor, and SummerHaven Investment Management, a Connecticut-based commodity-focused asset management firm, have deployed the new TT Futures TCA solution to inform their trade execution and algorithmic trading strategies and ensure they are achieving best execution on behalf of their clients.

First introduced last year, TT Futures TCA is a comprehensive transaction cost analysis (TCA) tool for futures trading, leveraging the largest collection of anonymized, aggregated microsecond-level futures market and trade data with a broad array of metrics and measures firms can use to customize the data for their unique purposes. Quantitative hedge funds and asset managers such as Bowmoor and SummerHaven can use the data for refining their strategies as well as for clients to confirm they are achieving best execution when invested in their managed funds.

Peter Weiler, EVP Managing Director, Data & Analytics at TT, said:

“We’re offering clients an unprecedented level of granularity on the wealth of futures trading data that’s aggregated and anonymized by TT. It’s great to see Bowmoor and SummerHaven applying these important analytical tools to their highly sophisticated trading and algo strategies, as well as to report to their clients how they are keeping costs low to maximize their returns.”

Bowmoor Capital CEO Richard Liddle said:

“We are honored to strengthen our longstanding relationship with Trading Technologies through this exciting new partnership. This collaboration marks a significant milestone in our commitment to innovation, leveraging advanced technology to enhance execution capabilities through the TT Futures TCA tools while driving the growth of our fund. We look forward to the transformative impact this project will have on our operations and the broader trading landscape.”

Kurt Nelson, SummerHaven Co-Founder and Managing Partner, said:

“We immediately saw the value of TT Futures TCA when the TT team demonstrated it. This is a valuable tool in our quest to achieve best execution for our clients, and this has traditionally been much harder to verify in futures than in equities.”

TT Futures TCA is part of the firm’s Data & Analytics business, which builds on TT’s 2023 acquisition of Abel Noser Solutions.

In January, the firm launched TT Broker Scorecard, a first-of-its-kind monthly report ranking global and regional equity brokers by liquidity and execution quality. The report provides an independent proxy of the institutional market with rankings derived from the aggregated, anonymized trade data compiled by Abel Noser Solutions. The product will soon be available for futures.

TT Futures TCA includes depth-of-market views – important to futures market participants as they can assess their costs for trade execution vis a vis clearing costs. In the second quarter, the offering will also include futures pre-trade cost estimates based on extensive empirical data used to predict outcomes under similar market conditions based upon results from traders executing in similar contract sizes, types and market volatility.