Markets Media: Routing Analysis Gets Real (-Time)

By Jen Fagenson

January 15, 2019

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Buy-side traders seeking to minimize the market impact of their transactions are overlaying venue analysis with a more dynamic methodology that presents a fuller picture of the market’s moves before, during and after their trades.

Routing analysis takes the premise of venue analysis — determining where to execute trades and where not to — and factors in the interconnectedness of markets. Specifically, that a ping, cancel, replace, etc. to one venue can have profound implications for orders headed to another.

“Routing analysis provides actionable intelligence to help shape the routing process to meet performance objectives of the thesis, strategy or individual,” said James Doherty, Head of Equity Product at Dash. “It provides insight into the logic and decision-making behind an order by showing the ‘how’ and the ‘why’ of an order’s execution.”

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