What is Best Ex?
Best Ex is more than checking a regulatory box. It is a strategic differentiator. Whether your goal is to distinguish your venue as a source of superior liquidity, to stand above the crowd for adeptly accessing liquidity, to meet your fiduciary responsibility to your clients and investors, or to preserve your strategy’s edge form cost erosion, Best Ex is about your performance, your reputation, and your bottom line.
Best Ex is more than transparency, more than a committee summary or exception report. Best Ex is important at all stages of the investment cycle: from optimizing tactical decision-making before the trade, to adapting to market conditions during the trade, to refining strategy after the trade. Best Ex has to be sensitive to market structures and customer expectations across multiple regulatory regimes. Best Ex has to adapt to your transaction flows, and scale to your business -without costing you a bundle.
Above all, Best Ex has to get to the kernel of what investment managers, trading supervisors, and compliance officers need to know: the factors that distinguish better execution, and actionable guidance on how to achieve it.
A Better Best Ex
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.
- Order flow levels - Fill-level, SOR child order level, parent order level, macro level (i.e. baskets)Interactive dashboards - For historic and live review; chart zooming and tear-off; aggregating tables; installed or HTML5
- Outlier detection - Easy detection of outliers; set up filtering rules; ‘what If’ analysis
- Flexible aggregation - Slice and dice by any categorical value; use regulatory aggregations (e.g. U.S. Rule 605 bins)
- Liquidity metrics - Effectively access displayed and hidden liquidity, takeout success, quote fade
- Point price metrics - Effective and effective over quoted spread; realized spread; locked/crossed markets
- Interval price metrics - Implementation shortfall, deviation from benchmarks, participation rate, PWP, forward and backward markouts
- Latency metrics, routing delays, market data alignment, market data quality metrics
- Compliance workflow - Automatic alerts, integrated resolution workflow, all integratable with the OneTick Surveillance Service
- Tuned for regulatory regimes: US SEC/FINRA and CFTC/NFA, Europe’s MiFID II/ESMA, Canada’s IIROC/UMIR rules
- Conveniently packaged for Sell-Side and Buy-Side
- Covers the investment life cycle, including customizable pre-trade decision support, real-time monitoring for ‘held’ and ‘not held’ order flows, and historic analysis
- Provides fill-level, order-level, and macro-level views
- Available fully hosted and managed, or deployed on-premises
- Backed by OneMarketData's global tick and reference data collection
- Can be customized and tailored to your business needs -by you