Virtu Financial, a leading provider of trading technology and liquidity, announced the continued expansion of its execution services offering with the launch of Prism Frontier, a post-trade analytics tool designed to provide transparency and forensics around client executions.
In order to perform meaningful analysis of execution quality, investors require transparency and data regarding how their orders are handled. This is not easily achieved, as it requires an entire trading system built around this purpose. To that end, Virtu’s algorithms are built around trader intuition with simple principles in mind, based on information about a given order and the prevailing market activity. This produces a trading strategy with specific intentions whose results are easily measured.
“Virtu’s algos don’t over-complicate the task they’ve been assigned,” says Steve Cavoli, Global Head of Virtu Execution Services. “They digest massive quantities of market data, in real-time, and make appropriate decisions. When the trade is complete, Prism makes it easy to review the results. This is TCA for a trader. It’s a practical review of execution.”
Examples of our growing catalogue of Prism Frontier templates include:
Prism Post-Trade*: Conventional post-trade analysis augmented with algorithm-specific performance metrics, raw liquidity codes on executions from Virtu’s ATS’ and mark out analysis on fills based on the child order’s intention.
Prism Real-Time (expected to be released in 3Q 2020): Traders can monitor executions in real time, with a focus on harmonizing fills with Virtu’s optimized market data at granular time increments.
*Available for all Virtu algos: Fan, Oasis, Covert, Catch and Opportunistic
Prism Frontier is available via the Virtu Portal.