S&P to discontinue their Tracking Creditable Acquisition service
In a significant move, S&P Global has announced the closure of its Transaction Cost Analysis (TCA) operations, which cover a wide range of financial instruments including equities, foreign exchange (FX), fixed income, and money market instruments. The decision, confirmed by sources familiar with the matter, is part of a strategic business realignment aimed at focusing on core areas and improving operational efficiency in the stock market today. The S&P Global TCA service is integrated within the Market Intelligence business, which generates a significant portion of the company's revenues in the finance sector. In Q2 2025, S&P Global reported US$1.2 billion in Market Intelligence revenues, marking a 5% year-on-year increase. Despite this growth, the closure of the TCA operations will not have an immediate impact on S&P Global's overall operations, as the company continues to evaluate its product portfolio in the global entry market. The reasons for the closure of the TCA operations were not specified in the article. Michael Richter, EMEA executive director of TCA at S&P Global, could not be contacted for comment regarding the closure. The article also does not provide information about any potential buyers or acquirers of S&P's TCA operations or the number of employees affected by the closure. S&P Global Market Intelligence, however, is committed to keeping its clients informed of any updates. The spokesperson for the company declined to comment on specific decisions, but assured that the company remains dedicated to providing high-quality data and insights to its clients in the stock market today. As S&P Global moves forward, it will be interesting to see how the closure of the TCA operations will impact the company's overall performance and the future of its TCA services in the finance sector.
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