Trading Cost & Profitability Analyzer (TCAP)

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The Trading Cost & Profitability Analyzer (TCAP) is an AI-powered platform designed to evaluate daily customer trading costs and profitability across 260+ global markets spanning the Americas (U.S., Brazil, Canada), EMEA (Europe, Abu Dhabi, Dubai, Saudi Arabia, South Africa), and APAC (Japan, China, Taiwan, Hong Kong, India, Korea, Thailand, New Zealand, Australia). Leveraging continuous learning algorithms and advanced statistical modeling, TCAP compares cost-effectiveness across Lit and Dark markets and assists with optimizing execution strategies such as VWAP and Dagger.

Execution Costs

TCAP computes expected execution costs across all trading pathways, including:

  • Exchange fees for Lit and Dark Markets
  • Product type (Common, Preferred, ETFs, Mutual Funds, Depository Receipts, REITs, Swaps, etc.)
  • Execution quantity and price
  • Trade liquidity and market rebates/discounts

Clearing and Settlement Costs

The expected clearing and settlement costs are computed pre-trade. The combination of the following components will lead to varying cost trade-off decisions affecting clearing and settlement costs:

  • Clearing and Settlement Venue Selection
  • Settlement Types (Based on Historical Data)
  • Netting of Trades (Based on Historical Data)
  • Fully customizable commission structures per customer
  • Incentive-based Rebates and Discounts are supported

Commission

The Commission tables are flexible enough to meet the demands of Customers:

Taxes (Example)

The application of the following taxes will lead to varying tax-based costs:

  • U.K – Stamp Duty Reserve Tax (SDRT)
  • Hong Kong Stamp Duty
  • India Stamp Duty

Regulatory Fees (Example)

The application of the following regulatory fees will lead to varying regulatory trading costs:

  • FINRA Transaction Activity Fee (TAF)
  • SEC Fees
  • NFA Fees

Business Insights (Example)

TCAP provides effective business profitability insights by:

  • Customer
  • Product type
  • Region
  • Desk and Trading Strategy
  • Lit and Dark Markets

Ensuring profits are maximized.