| Execution is the manifestation of the abstract steps of research and portfolio construction. This is where theory meets reality – the market. A smooth and efficient transition from the portfolio construction phase through the execution phase is essential.
Selecting the right methods and technologies are crucial for success in this phase. Crowther Investment can help implement the right mix of global trading technologies for:
- Smart order routing
- Seeking liquidity
- Minimizing market impact
- Optimizing transaction cost
- Allocating commission usage vs best execution
- Transforming market data to intelligence
- Analyze & manage real-time and tick data
- Quantitative equity trading models
- Market microstructure analysis
- Multi-factor equity risk models
- High frequency data research
- Complex event processing
- Principal Components Analysis
- Implementing trading strategies, systems & software: event driven, market neutral, long / short, 130/30, and pairs trading; macro & sector; distressed, fixed income, convertible, capital structure, cross asset class, index & statistical arbitrage
- Implementing technology strategies for: algorithmic trading, automated trading strategies, aggregation & fragmentation; direct market access, intelligent order routing, scheduling, prioritizing & working trades
- Constructing and directing portfolio, package, basket & program trades
- Order Management Systems (OMS) and Execution Management Systems (EMS)
- Trade protocols: FIX, FPML, SWIFT, etc
- Efficient use of crossing networks, ECNs, electronic and traditional exchanges
- Controlling anonymity
- Incorporating reference & market data into the trade process
- Communicating order details and contingencies
- Efficient and prudent use of soft dollars
- Measure and improve the trading phase of the process: VWAP, TWAP, minimize slippage & loss of alpha from portfolio construction phase, etc.
- Boston Security Analysts Society - CFA Continuing Education
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