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Transaction Cost Analysis
Transaction Cost Analysis – does MiFID make it redundant?
9th May, 2007 - London, UK
On 26th January, the FSA issued a Press Release announcing that it had finalised its transposition of the Markets in Financial Instruments Directive (MiFID) for FSA-regulated firms and markets. This represents another important step towards full implementation on 1 November 2007. The scope of the MiFID is both widespread and far reaching. Many commentators think that one of the most important regulations is on Best Execution.
This seminar, jointly organised by HSBC and UK SIP, will discuss some of the practical implications of this regulation and how Transaction Cost Analysis (TCA) systems can be applied to help in the discharge of this fiduciary responsibility.
In the first presentation, Jean-René Giraud, Director of Development at the EDHEC Risk and Asset Management Research Centre, will present the results of his recent Europe-wide survey on investors' attitudes towards trading, TCA and discusses an alternative benchmark – EBEX indicators – that can be used for measurement purposes.
In the second presentation, Gordon Morrison, Global Head of Equity Trading Analytics, HSBC Bank plc, will outline a TCA paradigm that represents a quantitative, structured and repeatable process to the trading and execution function enabling the fund manager to gain some insight into the total cost of trading, the different aspects of the trading function where those costs are incurred and the relative performance of their brokers.
The event, which will be chaired by Will Goodhart, Chief Executive Officer of UKSIP, will close with a Question & Answer session.
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| FTSE EDHEC-Risk Efficient Indexes: April 2012
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| EDHEC-Risk Alternative Indexes: Apr 2012 (Estimates)
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| EDHEC-Risk IEIF Commercial Property: April 2012
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