1. A method comprising: (a) receiving electronic data describing an executed trading order in a market traded security and related trade execution data; (b) calculating, by an automated programmed computer, one or more components of execution costs associated with execution of said executed trading order, said one or more components comprising at least one of alpha loss and alpha capture; and (c) transmitting data sufficient to describe said one or more components of execution costs associated with execution of said executed trading order; wherein said computer comprises one or more processors.