BestEx Research

We’re excited to welcome Soundarya Srivilli to the BestEx Research team! 🎉 Soundarya joins us as a Human Resources Associate in our Bangalore office. She has 2 years of experience in recruitment, talent management, and employee engagement. Her attention to cultivating positive workspaces and forming cohesive teams sets her up for success in her new role. Beyond work, she enjoys modeling and acting in her spare time. Welcome to the team, Soundarya!

We all use markouts to evaluate fill quality, but 𝐡𝐨𝐰 they're used matters a great deal. Understanding the nuances of markouts is critical in decoding what they reveal. Swipe through the carousel to learn more about differentiating between adverse selection and price impact to improve interpretation of markouts, just one topic covered in our recent paper, "𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩". Learn more in an excerpt from the paper (including empirical evidence) at the link below. As always, feel free to reach out to our team with your questions about fill quality and venue analysis. https://lnkd.in/eVaa4Qr6 *𝘰𝘯𝘭𝘺 𝘧𝘰𝘳 𝘪𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘪𝘰𝘯𝘢𝘭 𝘵𝘳𝘢𝘥𝘦𝘳𝘴

We’re excited to welcome SHALEEN BANSAL to the BestEx Research team! Shaleen joins our team in Bangalore as a Quantitative Engineer after working with Cisco, as a software engineer in the security infrastructure team. To his new role, he brings a strong technical skill set–having coding expertise in languages like C &  C++–and a deep understanding of computer systems and networks. Shaleen holds a degree in Electronics and Communication Engineering from IIT Roorkee. Outside work, he likes to play cricket and badminton. Welcome to the team, Shaleen!

Are positive Markouts always good? Understanding markouts is key to improving execution strategy. Markouts measure fill quality by comparing trade prices shortly after execution, shedding light on adverse selection and the true cost of liquidity. While positive markouts might initially appear favorable, it's important to delve deeper into their implications. They reveal insights about the relative toxicity of different trading venues and the effectiveness of various tactics. The interpretation of positive markouts isn't always straightforward and needs to be broken down by algo tactics to understand its true meaning. Our recent paper on “𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩” explains the nuances of positive markouts by algorithm tactics and what it means for traders when they look at venue analysis. Click on the link below to read the excerpt, including how to interpret positive markouts effectively. https://lnkd.in/eVaa4Qr6 Get in touch to know more.

Understanding dark pool toxicity is crucial to optimizing execution quality. Did you know that order type and algorithm intent significantly impact adverse selection costs in dark pools? Depending on order type, differences in interactions can reveal varying levels of market toxicity. For instance, orders resting at the near side tend to encounter higher adverse selection. Curious about how these insights can optimize your trading strategy? Our clients received the paper on “𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩” explaining these nuances of dark pool toxicity and how traders can navigate through these challenges. Not a client? Here's the link to an impactful excerpt published on our website. https://lnkd.in/eVaa4Qr6 Get in touch to know more.

Please vote BestEx Research "Best Algorithmic Trading Provider" in the WatersTechnology.com Rankings 2024! BestEx Research was honored to be named “Best Algorithmic Trading Provider" by your votes in 2022 and we are excited to have been nominated again this year for the same. Our revolutionary algorithmic trading platform is highly transparent, flexible, and trusted. Our Algorithm Management System (AMS) works across asset classes to improve execution costs for our buy-side clients and enables our sell-side clients to develop distinguished offerings and seamlessly service their customers. Since last year, we’ve launched two new algorithmic frameworks: IS Zero, replacing VWAP for low-urgency trading, and Adaptive Optimal, allowing for the creation of tailored liquidity-seeking algos for our clients. These two additions to our platform have been impactful for our customers…and there’s much more ahead. Please show your support by voting for BestEx Research at the link below and please consider forwarding this to your team, because every vote counts and it’ll only take a few seconds. Voting closes tomorrow! https://lnkd.in/e5xuvQyJ We appreciate your consideration.

We're excited to be participating in the #commoditytradingweek conference in Stamford, CT today! Don't miss Hector Robles on the Markets Maelstrom panel at 2:05pm today, where the conversation will focus on volatility, interest rates, inflation, and liquidity. 

Venue analysis is an essential tool for institutions to fine-tune liquidity access to optimize the performance of execution algorithms, and yet it remains one of the most challenging aspects of Transaction Cost Analysis (TCA). Our latest paper “Escaping the Toxicity Trap” introduces the fallacies that typical markout analysis can create, pushing beyond traditional views for a deeper understanding of how child orders contribute to parent order performance. The paper covers: ◾ Measuring dark pool toxicity ◾ Fair evaluation of venue performance ◾ Evaluating venue performance from the perspective of algorithm intent We’re sharing an impactful excerpt of this paper, now available on our website. https://lnkd.in/eVaa4Qr6 Get in touch with our team to learn more about venue analysis and our high-performance execution algorithms.

Stitching multiple orders traded on the same date, symbol & side can unlock potential insights while evaluating execution performance. Order Stitching functionality in our TCA is for those institutional traders who often divide orders into multiple slices as it supports the understanding of your parent orders’ true performance versus a variety of benchmarks. Read our blog on Order Stitching on the link below to understand details like what it is, how it can help, and how we handle finer nuances of stitching orders together. https://lnkd.in/g4vkWYGC

Looking for a new opportunity? Checkout our new Careers Page! Explore our open roles and learn more about our values, culture, and why BestEx Research could be the right place to grow your career. https://lnkd.in/gePqejUN #Careers #JoinOurTeam