| iSEEK |
Manages the trade-off between market impact and price risk. |
iSEEK efficiently seeks liquidity on exchanges and in dark pools. It builds a trading schedule based on size of order, expected participation rate, volatility and spread in the stock. It seeks to minimize slippage relative to the bid/offer mid at order entry time with completion as close to the benchmark time as possible. |
| MULTI-DAY ISEEK |
Manages the trade-off between market impact and price risk for large orders for which the trading time horizon is expected to span multiple days. |
This is one of Precision’s unique offerings under IS framework. It builds a trading schedule across multiple days based on the size of order, expected participation rate, volatility and various other market impact characteristics. It is a day order strategy where fills are passed back to the client in real time. The client will resubmit the residual order (or portion of) the following day with a customization that identifies it as a continuation of a multi-day order. |
| SOR |
Aggressively seeks liquidity, including auctions and continuous trading. |
SOR seeks to maximize liquidity capture by filling committing orders and utilizing displayed and nondisplaced venues. As liquidity is sourced it will rebalance between dark, gray and lit venues while maintaining the specified displayed quantity. It can be customized to prioritize price improvement, costs or speed of execution. |
| CLOSE |
Targets the closing price. |
CLOSE is designed to mitigate impact in the closing auction. The strategy uses a proprietary, quantitative model taking into account both historical close volume and real-time imbalance feeds to determine shares to be traded in the closing auction. The auction slice is influenced by ‘Target Auction %’. The strategy builds a schedule for any residuals to trade in the continuous market to mitigate impact on the closing price. It leverages d-Quote and Imbalance Only order types for NYSE and Nasdaq-listed stocks, respectively. |
| OPTIMAL CLOSE |
Manages the trade-off between market impact and risk vs closing price. |
This is one of Precision’s unique offerings under IS framework. By utilizing Precision’s proprietary market impact models for both continuous session and closing auction session, is designed to minimize market impact cost while targeting the closing price with user specified tolerance. Depending on the comparative market impact on both sessions, the share allocation is determined. A trader doesn’t need to specify the ‘Target Auction %’. The starting time of the execution is also determined by the algo without user’s input. |
| VWAP |
Seeks to match the period VWAP |
VWAP is a volume-weighted algorithm based on historical volume curves and real time volume prediction, and trades over a specified time period. Benchmarked to the VWAP, the algo will adhere to the curve with some discretion based on stock profile and trader intent. |
| TWAP |
Executes evenly over a specified interval. |
TWAP is a time-weighted algorithm that trades over a specified time period. It is designed to evenly distribute time intervals with some randomization to lessen predictability. |
| ARRIVAL VWAP |
Manages the trade-off between market impact and risk vs VWAP price. |
Arrival VWAP is one of Precision’s unique offerings under IS framework. In contrast to traditional VWAP strategy, it seeks to minimize market impact cost while allowing the order’s execution to deviate from volume profile with user specified tolerance. |
| POV |
Participates in line with market volume. |
Targets the desired percentage of volume (POV) specified in the order. It is designed to dynamically track volume in real time by continuously calibrating its participation |
