S3 is pleased to announce its Buy-Side Execution Quality Suite, which allows both Buy-Side institutions and their Sell-Side providers to ensure the Buy-Side clients are getting the very best representation in both the equities and listed options markets.
S3’s Buy-Side Execution Quality Suite adds new information that can be used to determine how well orders are being handled, including new benchmark comparisons, new volume comparisons, additional filtering options and additional statistics.
To its existing suite of match types, which includes millisecond, quote-before-trade and window match, S3 adds several different benchmarks, including Volume Weighted Average Price (VWAP), Time Weighted Average Price (TWAP), arrival time and previous close allowing the Buy-Side to compare their executions to more than just a point in time quote.
Adding full breadth volume and relevant statistics allows the Buy-Side to compare their executions against all the liquidity available at the time they placed the order, and to see how much of that liquidity they were able to capture at their desired price.
“We’re excited to help the Buy-Side identify who is really acting in their best interests” said Mark Davies, S3’s CEO. “By providing institutions with a tool to objectively compare brokers, and the Sell-Side with a mechanism to increase transparency, we hope to improve the trust between market participants.”
S3 is an industry leader in Execution Quality and Market Statistics that provides Best Execution Solutions to a large number of high profile Broker Dealer and Exchange clients. S3 is headquartered in Austin, TX.