Best Ex & TCA

OneMarketData

 

Helping traders fine-tune their strategies

OneTick Best Ex is an agile, platform-based solution for regulatory and competitive execution quality monitoring and optimization

It is built on OneTick, the world’s most advanced tick data management and streaming analytics platform.

At a glance

OneTick Best Ex & TCA

Built on OneTick, the world’s most advanced tick data management and streaming analytics platform.

OneTick Best Ex is an agile, platform-based solution for regulatory and competitive execution quality monitoring and optimization.

Sell-side and buy-side firms around the world are already using this platform to cut regulatory risk and gain a competitive edge in venue selection and Transaction Cost Analysis (TCA), continuous pricing, surveillance, strategy back-testing, algo design, and a host of other purposes - both for themselves and their clients.

Both the hosted and deployed versions leverage the data management performance and analytics power of the OneTick Streaming Analytics engine. The and include advanced visualizations, Best Ex alerting, and compliance workflow.

A hosted implementation combines the above with our Cloud market and reference data content, and our hosting platform, and 24x6 managed services into a convenient hosted service dedicated to ‘Best Ex’.

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Powerful Benefits

It's about your performance, your reputation, and your bottom line.

Out-of-the-box
Solution

Intra-day and T+1 monitoring of transactions flow. It includes advanced visualizations, support for both immediate and worked orders, alerting, filtering and outlier management, aggregate reporting, and compliance workflow.

Budget
Friendly

Outsource your compliance obligations at a cost far below in house development and competitive products.

Regulatory
Compliance

Tuned for regulatory regimes: US SEC/FINRA and CFTC/NFA, Europe’s MiFID II/ESMA, Canada’s IIROC/UMIR rules

 

Supports closer integration with customer infrastructure

When deployed on-premises, OneTIck BestEx supports closer integration with customer infrastructure and proprietary data sources, supports intra-day monitoring, and allows integration of customer-developed metrics.

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Extensible Features

OneTick BestEx supports end-user creation of additional metrics and statistics by means of a configurable window that allows limited scripting right in the Best Ex dashboard. Metrics may be created that are simple or complex functions of any other data columns present in the enriched data. Complex filters may also be created using the code widget. For example, it might be used to create a venue ranking formula that is based on a combination of venue-relevant execution quality metrics and market statistics.

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Small order metrics

‘Small orders’ are not deliberately executed over an interval to minimize impact, and are typically benchmarked to the market as at order arrival.  

They may be client orders marked as ‘held’ or DMA orders or SOR orders at the parent or child level. They may be aggressive or passive. Some metrics are more appropriate for marketable orders (e.g. ETQ), and others more appropriate to passive orders (e.g. opportunity cost). The table below lists a subset of the supported metrics.

 

LARGE ORDER METRICS

“Large orders’ are executed algorithmically or manually over a period of time and for which interval benchmarks are appropriate.

When received from a customers, they would typically be marked ‘not held’. Large orders may have child orders for which ‘small order’ execution quality metrics are useful. For large orders, the primary metrics of interest are achieved price vs. a benchmark and opportunity cost (hypothetical achieved price vs. a benchmark for the non-executed portion). The variety is in the benchmarks.

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