SP plans to discontinue Treasury Collateral Account service
In a recent development, global financial data and analytics provider, S&P Global, has announced the discontinuation of its Transaction Cost Analysis (TCA) services. The decision, effective as of 2025, marks the end of an era for the service, which has been operational since 2011.
The TCA services, a significant part of S&P Global's Market Intelligence business, cover a wide range of assets, including equities, foreign exchange (FX), fixed income, credit default swaps, loans, and money market instruments. The Market Intelligence business, in turn, generates the largest portion of S&P Global's revenues.
In the second quarter of 2025, S&P Global reported US$1.2 billion in Market Intelligence revenues, representing a 5% year-on-year increase. The company's spokesperson declined to comment on specific decisions regarding the TCA service, but confirmed S&P Global's commitment to keeping clients informed of updates.
Despite extensive research, the reasons behind S&P Global's decision to discontinue the TCA services remain unclear. A search of available information has yielded no results providing insight into the matter. Efforts to contact Michael Richter, EMEA executive director of TCA at S&P Global, were unsuccessful.
It is important to note that the discontinuation of the TCA services does not affect the broader operations of S&P Global. The company continues to provide a comprehensive suite of financial data and analytics services to its clients worldwide.
In conclusion, S&P Global's decision to discontinue its Transaction Cost Analysis services has raised questions within the industry. While the reasons behind this decision remain unclear, S&P Global has reaffirmed its commitment to keeping its clients informed of any updates. The company's Market Intelligence business, which includes the TCA services, continues to be a significant contributor to S&P Global's overall revenues.
