OneTick Best Ex is an agile, platform-based solution to 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. 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 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’.
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.
Regulatory Compliance – Tuned for regulatory regimes: US SEC/FINRA and CFTC/NFA, Europe’s MiFID II/ESMA, Canada’s IIROC/UMIR rules
Extensible Features - built on top of the OneTick proprietary tick database and stream processing platform, OneTick Market Surveillance is comprised of pre-built, configurable alert rules in support of executing brokers; layering and spoofing, quote stuffing, wash trading, marking the close and many more. Along with the tools and user interface to manage, track and audit alerts, new alert definitions are easily added using the OneTick model construction tool.
‘Small orders’ are those that 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 orders’ are those that 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.
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.
Outsource your compliance obligations at a cost far below in house development and competitive products.