- Mar
- 13
- 2009
- 10:46 AM
MatchPoint Execution Control: a Non-Displayed Order's Best Friend
- By: Jim Ross
- File Under: MatchPoint
From Jim Ross: A critical element of MatchPoint's order opacity is order control. Just because an order is anonymous and non-displayed it does not mean that the order is not vulnerable to information leakage, slippage or market impact. To make order opacity effective, a market participant must also retain constant control over how an order is handled and executed within a dark pool.
MatchPoint addresses order control on a number of levels. Limit prices, minimum trade sizes, internal matching, and portfolio list and cash constraints extend significant order control to MatchPoint users WITHIN the matching engine itself. In addition, MatchPoint's "Fast Match" process reduces the match processing time down to 3-5 seconds so that users can have near real-time access to cancel or edit their orders. This order control works equally well for algorithms as it does for portfolio and block users.
If you do not know where your orders are, how they are being handled or are not able to control them, then they will get into trouble. Instead send them over to MatchPoint: a clean, well-lit place where you will know what your orders are doing and be able to manage them effectively.
With MatchPoint, your orders will grow up and become best executions in no time!!!
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