Transaction Cost Estimator

Estimate the transaction cost of an executed or contemplated order — half-spread, commissions/fees, market impact, delay (implementation-shortfall) cost, and opportunity cost of unfilled quantity — using a validated, versioned methodology with explicit uncertainty ranges, and produce a source-linked TCA workbook. Use when a trading or execution-quality analyst asks to "estimate transaction cost", "run TCA", "what was the slippage/market impact", or "cost of this trade in bps". HARD BOUNDARY: R2 draft-only — it NEVER routes, executes, cancels, or amends an order, never selects or recommends a venue, broker, or algo, and never asserts best execution; it estimates costs for …