Trading Technologies Launches Broker Rating System Based on Trade Data via its subsidiary, Abel Noser's Trade Zoom

Trading Technologies International (TT) has introduced a monthly broker ranking system that measures liquidity provision and execution quality across global equity markets, drawing on anonymised trading data from its Abel Noser Solutions subsidiary which TT acquired in 2023.

The TT Broker Scorecard aims to provide institutional investors with an independent assessment of broker performance across different market segments, regions and sectors. The service is integrated into Abel Noser's Trade Zoom transaction cost analysis (TCA) platform.

"In today's ultra-competitive environment, the buy side is increasingly trying to find liquidity in highly concentrated markets, while the sell side is seeking ways to protect and grow market share," said Peter Weiler, EVP Managing Director, Data & Analytics at TT. "TT Broker Scorecard will help firms on both sides uncover distinct business advantages by leveraging the massive universe of data that flows through our market-leading TCA platform."

The new service allows investment managers to identify brokers active in specific market segments and estimate trading costs before execution. Brokers can use the system to benchmark their performance against competitors and identify areas for business development.

The launch follows TT's acquisition of Abel Noser Solutions in August 2023, marking the Chicago-based firm's expansion into multi-asset data analytics. Abel Noser, which serves over 350 institutional clients, is known for co-developing the volume-weighted average price (VWAP) methodology widely used in trading cost measurement.

The scorecard builds on recent momentum in TT's analytics business. Abel Noser won two industry awards in late 2024 for its TCA services. The company also launched a futures-specific TCA product in June, incorporating microsecond-level market data.