Traders looking to measure the performance of their algorithms and fill rates are getting a new tool. All with a single mouse click.

Independent execution broker and fintech provider ITG has launched ITG Execution Analysis, which is designed to help buy-side traders measure execution quality at multiple trading venues in a way that differs from transaction cost analysis. Execution Analysis is a web-based analytics application that measures how broker-neutral algorithms are functioning helping traders maximize efficiency, achieve best execution and avoid ‘toxic’ trading venues.

How does it work?
The service examines algorithm performance via FIX-based fill-level data. Specifically, Execution Analysis looks at an algorithm’s usage and its spread capture, coupled with venue and broker reports, as well as other key execution level metrics. All on ITG’s platform.

Execution Analysis “is designed to allow users to perform in-depth analysis of their post-trade, fill-level data with ease,” Ian Domowitz, head of analytics at ITG, told MarketsMedia. “Users can seamlessly jump from broker to venue to algorithm analyses, among others, with just the click of a mouse.”

Execution Analysis lets traders themselves customize their execution level analysis right on their desktops through the use of simple, on-screen date range and filter settings. Once the parameters are set, traders can immediately identify trading opportunities or pitfalls among their algos and spot areas of interest via dashboard summary views. Once a summary is viewed, traders can opt for a more detailed look at their algorithm order performance, moving from ‘parent’ order performance down into the ‘child’ orders.

Featured image via apinan/Dollar Photo Club