Platform - Best Execution Solutions

Technology that sets us apart. Reporting and analytics that set you apart.

Reporting Tools

CAT Reporting

Take control of the full CAT reporting lifecycle across multiple asset classes, systems and formats. Our secure, web-based portal ensures your data is in a CAT-reportable format and automates all reporting to FINRA CAT. It also optimizes management of pre/post submissions, providing a complete audit trail of your activity.
NBBO Exceptions Reporting

Are you making the right routing decisions? We provide our exception reports on a daily T+1 basis, so when one of your trades is executed unfavorably against the NBBO, you’ll be the first to know. Our tool enables drilling down into the full life of the order, including details of each partial fill.
Rule 605 Compliance Reporting

View Rule 605 statistics on a stock-by-stock basis, by order type, in the aggregate or on an order-by-order basis, all on a web-based platform that allows market centers to meet their regulatory obligations with ease. Whether you’re searching for price improvement, execution speed or something else, we have the tools to help ensure your orders are receiving the highest quality of executions.
Rule 606 Compliance Reporting

Our Rule 606 solution is as dynamic as the firms that rely on it. Our Rule(a)(1) module captures held order flow, while the Rule 606(b)(3) module offers a full drill-down capability to the order and trade level. Our unique approach to data formatting reduces information leakage and thus prevents access to client IDs, all while remaining fully compliant.

Execution Analytics

Best Execution Tools

For a multilayered requirement like Best Execution, you need a solution that goes the extra mile. Leverage our powerful, customized tools to create game-changing insights around the execution quality of your order flow, then implement policies and procedures to monitor trades being executed outside the NBBO and trading through protected quotes.
Rule 606 Consolidator

It’s much easier to realize competitive insights through data when all the data is in one place. Our tool scrapes the internet for public Rule 606 reports and creates a standardized database, helping market centers understand how their clients make order routing decisions and how their competitors win order flow.
Transaction Quality Analysis (TQA)

Our TQA tool combines TCA and EQR, enabling a comprehensive view of execution quality and costs for all orders. Use filtering mechanisms to create a truly bespoke report that captures crucial metrics, including VWAP, Interval VWAP, Implementation Shortfall, Effective/Quoted Spread, Price Improvement and much more.

Auditing and Consulting Services

Trade Surveillance