Austin, January 21, 2014 – S3’s newest offering, Execution Quality for Complex Spreads, allows clients to determine and prove how well their complex spreads are being executed. By developing an execution quality system that understands complex orders, S3 is able to show the execution quality of the complete strategy, while still allowing clients to track the executions of each leg.
“As the number of clients trading complex strategies increases, clients are demanding an understanding of how, why and where those trades are executed.” John Standerfer, S3’s CTO said. “by providing our clients with a complete picture of a strategy, they are better able to present their success to their clients and identify and respond to any problem executions quickly”
When a complex order is loaded into S3’s system, S3 creates a synthetic NBBO of the entire strategy, as well as a synthetic BBO for each exchange. By comparing the aggregated executions against these, as well as any applicable limit prices, clients are able to get an accurate view of how a spread executed against the market. Additionally, each leg is matched individually to allow drill down to the individual trade.
For more information and a demonstration, please check our website and contact Mark Davies at mdavies@s3.com or 512-450-6721.