Implementation shortfall remains the most significant measure of transaction costs for respondents (83 percent) while reversion measurement was also identified as an important consideration for both the buy and sell side, at 75 percent to highlight market impact.

FORBES: When Total Cost Analysis (TCA) Breaks Down

Brokers will have the best knowledge of what happened to an order and can advise their buy-side clients on the most effective approach, such as when to use limits and when not to in order to avoid implementation shortfall.

FORBES: When Total Cost Analysis (TCA) Breaks Down

Doubts over the full implementation of the agreement first surfaced earlier this year when some councils suggested that it could lead to a crippling shortfall in their budgets.

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