Transaction Cost Analysis (TCA) | Interactive Brokers LLC (2024)

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.

Interactive Brokers ®, IB^SM, InteractiveBrokers.com ®, Interactive Analytics ®, IB Options Analytics^SM, IB SmartRouting^SM, PortfolioAnalyst ®, IB Trader Workstation^SM and One World, One Account^SM are service marks and/or trademarks of Interactive Brokers LLC. Supporting documentation for any claims and statistical information will be provided upon request. Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.

Options involve risk and are not suitable for all investors. For more information read the Characteristics and Risks of Standardized Options, also known as the options disclosure document (ODD). Alternatively, please contact IB Customer Service to receive a copy of the ODD. Before trading, clients must read the relevant risk disclosure statements on our Warnings and Disclosures page. Trading on margin is only for experienced investors with high risk tolerance. You may lose more than your initial investment. For additional information about rates on margin loans, please see Margin Loan Rates. Security futures involve a high degree of risk and are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading security futures, read the Security Futures Risk Disclosure Statement. Structured products and fixed income products such as bonds are complex products that are more risky and are not suitable for all investors. Before trading, please read the Risk Warning and Disclosure Statement.

For information on the IBKR ATS, please visit the SEC site.

34 countries include both countries and territories.

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