We are looking to replace an optical encoder. where I'm interested in knowing the index location when the index is going through 12 o'clock (Z signal). Every time the motor passes the index i need to get a signal(Z signal goes high). I need to implement this on a TI controller that will provide me the feed back needed, which controller should i get, and what kind of accuracy i can get on the Z signal. 
we need to control the motor at a constant speed around 10,000 rpm. The load is a constant small load will not change.