All-in execution costs
Separate spread and depth, trading charges, slippage and the effects of retries. Assess market impact where the available data supports it; keep modelled and observed quantities distinct.
ANALYTICS & RESEARCH
See the execution.
Understand the economics.
Turn market and execution data into practical decisions. Identify where costs arise, how liquidity behaves and which changes deserve to be made.
Conceptual framework
THE PRINCIPLE
Clarity begins with the right comparison.
A spread, a fill rate or a latency figure tells only part of the story. Meaningful analysis connects the measures, defines the observation window and considers the market conditions behind the result.
Liquidity & provider behaviour
Examine executable depth, pricing contribution, fill and rejection patterns, quote freshness and price leadership. Compare providers at an instrument and session level.
Markouts & market impact
Study price behaviour around decisions and fills to understand selection effects and subsequent price movement. Interpret results alongside flow characteristics and market conditions.
From evidence to action
Translate findings into focused changes to counterparty mix, execution logic or infrastructure. Reassess the result rather than assuming that a promising hypothesis will hold in production.
Analytics that lead
to operational decisions.
The objective is a better-understood execution process: clear definitions, relevant comparisons and a defensible basis for the next change.
- A transparent execution-cost baseline
- Instrument-level and provider-level assessment
- Prioritised actions supported by measurable evidence
LET’S EXAMINE THE OPPORTUNITY
What could better
execution mean for you?
Start with your objectives, your current setup and the questions you want answered.
Discuss your requirements