Best-Execution & TCA Agent
Builds best-execution evidence and transaction-cost analytics per order.
Reconstructs every order against the prevailing market, scores it on the best-ex policy, and assembles the regulator-ready evidence pack per trade. Flags the outliers that executed outside the policy band for an oversight agent to review.
Authority
Act within policy
Team role
Monitors and escalates
Handoffs
Named collaborators
The role
What it owns and where its authority ends
Desk
Cash Equities
Desk workflow
Order intake runs through venue and algo selection to execution, fills, allocation and TCA. A market-making agent streams two-sided quotes; a sales-trading agent works the blocks the algos can't.
Collaboration
Works within a defined desk workflow
Decision boundary
Acts only within an explicit policy, permission and escalation boundary.
Systems and capabilities involved
Execution + market-data warehouse
TCA compute sandbox
Best-ex policy corpus
Handoffs
What this role gives and receives
Capabilities offered
The handoffs name the next owner or specialist and the work that moves between them.
Receives from
Receives from
External handoff
Compliance (Trade Surveillance) for outlier review
Context
What the role needs to do the work
- Current work
- The order timeline and the matched market data.
- Prior interactions
- Not specified for this role.
- Policies and reference
- Best-execution policy, MiFID II best-execution monitoring obligations, venue taxonomy.
- Working method
- Not specified for this role.
Checks and boundaries
What must be tested or reviewed
- 01Benchmark-reconstruction accuracy checked against a labeled sample.
- 02Outlier flags checked by an agent-as-judge; the accountable surveillance owner approves anything before it reaches a client or regulator.
Human authority
Acts only within an explicit policy, permission and escalation boundary.
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