Execution Platform

Algocor TCA (Transaction Cost Analysis) 

Measure What Matters. Execute With Confidence.

Execution performance doesn’t end with a fill, it starts there. Algocor Transaction Cost Analysis (TCA) brings full post-trade transparency to institutional execution, turning every completed order into measurable insight.

As the first and only post-trade TCA provider at Borsa Istanbul, Algocor helps institutions understand what truly happened during execution,where cost emerged, how timing affected price, and how to improve future performance.

Purpose & Philosophy

Markets move quickly, but analysis must move deeper.

Algocor TCA provides an evidence-based view of how trades interacted with the market, allowing institutions to quantify impact, validate strategies, and refine their execution logic.

By capturing post-trade behavior across orders, brokers, and venues, Algocor transforms execution from an art into a measurable, repeatable discipline.

What Algocor TCA Delivers

  • Trade Cost Breakdown: Isolate and measure each cost component: spread, timing, and impact.
  • Slippage Analysis: Evaluate how far execution deviated from target benchmarks such as Arrival, VWAP, or TWAP.
  • Broker & Venue Benchmarking: Compare performance and consistency across execution providers.
  • Strategy Feedback Loop: Use verified post-trade data to enhance algorithmic parameters and route selection.

Each report provides a quantitative mirror of past execution, empowering traders to see what worked, what didn’t, and why.

Methodology

Algocor’s TCA engine collects every trade, timestamp, and quote snapshot to reconstruct the true cost of execution.

  • Benchmark Suite: Arrival Price, VWAP, TWAP, Close, Implementation Shortfall.
  • Microstructure Modeling:  Incorporates order size, liquidity, and volatility to identify impact beyond price change.
  • Cost Decomposition: Distinguishes between spread cost, timing cost, and market impact.
  • Normalized Comparison: Adjusts results for volatility and liquidity so performance comparisons remain objective.

Architecture

Transparency engineered into every layer.

  • Data Layer: Collects and synchronizes trade and market data from Borsa Istanbul and connected global venues.
  • Analytics Engine: Runs benchmark comparison and cost decomposition models post-trade.
  • Visualization Layer: Interactive dashboards and exportable reports for traders, compliance, and management.

Use Cases

Broker-Dealers

Broker-Dealers

Quantify and demonstrate objective execution quality to clients.

Asset Managers

Asset Managers

Validate strategies, refine broker selection, and report cost efficiency to stakeholders.

Exchanges & Regulators

Exchanges & Regulators

Use aggregated post-trade analytics to evaluate market integrity and liquidity structure.

Value Proposition

Transparency Is the New Alpha

Algocor TCA converts every trade into actionable knowledge. By measuring what happens after execution, it builds the foundation for smarter, data-driven improvement, ensuring that each next trade is more efficient than the last.

Verified performance. Lower cost. Continuous enhancement.

Other Services

Algocor Pro EMS

Precision. Speed. Transparency.

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Execution Algorithms

Precision in Every Nanosecond

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Algo Wheel

Automated Strategy Selection for Every Order

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Smart Order Routing (SOR)

Route Smarter. Fill Faster.


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