S3 Debuts Best Execution Tool for Canadian Brokers

The new trade analytics suite marks the firm's foray into international transparency and reporting.

Brokers in Canada may have a better a view of their deals thanks to a new offering from Austin-based financial services firm S3. The firm announced the launch of its Canadian Best Execution Quality Suite at this week’s 2015 TSX Equities Trading Conference.

The S3 suite is the firm’s first offering on its World View reporting platform, which analyzes market conditions between the U.S. and Canada.

According to a press statement, “S3s Canadian Best Execution Quality Suite keeps traders informed of these shifting circumstances by allowing clients to search for, view and filter execution analysis for stocks listed on both U.S. and Canadian venues. This unique feature ensures that S3s clients are always able to determine where and when historical best execution occurs, enabling them to identify and prove the optimal destination for their orders, regardless of whether the destination is Canada or US Based.”

S3 claims that the solution’s “first user is one of Canadas bulge bracket investment banks,” but did not name the client.

Simultaneous market analysis across multiple countries is a critical component to provide venue analysis and to determine order routing decisions. The Canadian BestEx Quality Suite allows both U.S. and Canadian traders to determine factors impacting their orders across exchanges in both countries, as impactful liquidity can be found on both sides of the border,” said Mark Davies, CEO of S3.

Davies added, “Our new market structure analytics platform assists clients in monitoring relative trading performance between both markets, and provides them with the required information to adjust, or simply justify order routing decisions to regulators.