Aggregation & decision logic
Assess how prices and available quantities are combined. Design routing decisions that reflect instrument, order size, venue behaviour and the economics of the whole order.
ALGORITHMIC EXECUTION
Every order.
A considered route.
Connect market structure, algorithmic logic and low-latency infrastructure. Design execution around the cost and quality of the completed order.
Conceptual framework
THE PRINCIPLE
The best displayed price is only the beginning.
Execution quality depends on what happens between a decision and a completed trade. Routing logic must account for available size, provider behaviour, rejected attempts, changing prices and the need to complete within an agreed risk framework.
Execution methods
Evaluate active and passive execution, limit-order behaviour, retries and fallback logic. Test each method against comparable conditions and completed execution costs.
Low-latency connectivity
Design and integrate FIX and API connectivity, colocated infrastructure and direct connections where appropriate to the mandate. Diagnose delays across the execution chain.
Validation & control
Establish a baseline, test integrations and pilot changes under defined limits. Monitor execution quality and operational exceptions before expanding scope.
Measure the complete order.
Improve the complete process.
An improved fill price can be offset by retries, delays or missed liquidity. Our approach evaluates execution as a connected process, rather than optimising one isolated metric.
- An execution and routing blueprint
- A controlled integration and validation plan
- A measurement framework for continued refinement
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