BestEx Research

We are pleased to announce the appointment of Beatrice Derian as Chief Financial Officer. With over 13 years of experience in financial services accounting and regulatory reporting, extensive expertise within the broker-dealer sector, and a track record of success in building and scaling finance organizations within the fintech sector, Derian is positioned to play a crucial role in driving the company's growth and financial strategy. Previously, Beatrice played a key role in capital raises and the opening of foreign subsidiaries in the UK, India, and Australia while at Quantitative Brokers. While there, she also streamlined and standardized local and offshore accounting and reporting processes, providing updates to the Board and investors and driving efficiency, accuracy, and compliance. In her previous roles, Beatrice has driven complex strategic initiatives, M&A activities, FP&A, financial operations, and process improvement while maintaining robust internal controls, and she is set to do the same at BestEx Research. For the full announcement, click here: https://lnkd.in/etUa6P4J Get in touch to learn more about our high-performance execution algorithms.

“Which dark pools have the most toxic liquidity? And which have the least?” Our recent paper, "Escaping the Toxicity Trap", delves deeper into concepts that help understand venue toxicity, answering critical questions for evaluating performance across different venues. Here’s a snippet from our recent webinar for our institutional clients that speaks to venue comparisons. In the webinar, Hitesh Mittal and Kathryn Berkow discussed the concepts presented in our paper and outlined our methodology for analyzing venue performance more effectively. They also provided a tour of our venue analysis report, which brings the paper's theory to life for our clients. For those clients who couldn’t attend, contact us for the webinar recording or access it from the client portal on our website. If you're not yet a client of BestEx Research, reach out to start a conversation about how we can help improve your execution.

Research is the foundation of our execution algorithms. To provide exclusive, ongoing access to our research content to our institutional clients, we have introduced a dedicated “Client Portal” on our website.   Check out the gif below to see our Client Portal in action. The portal serves as a central hub for our research papers and webinar recordings across asset classes, designed to enhance your trading experience. It enables on-demand access to our entire library, covering a wide range of topics including market structure, algo design, and TCA research.   If you’re already a client of BestEx Research, we invite you to create an account and explore the portal using the link below: https://lnkd.in/eiJnsYib If you’re not yet a client, let’s start a conversation about how we can help improve your execution.

We recently released a research paper, 𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩, focusing on the nuances of measuring dark pool toxicity and evaluating venue performance from the perspective of algorithm intent. Our Reports functionality within AMS helps institutional traders generate a Venue Analysis Report in just a few clicks and supports the approach we’ve outlined to deeper assessment of fill quality. We’re hosting a webinar for our clients on 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲, 𝐉𝐮𝐥𝐲 25 𝐚𝐭 12𝐩𝐦 𝐄𝐓 to discuss the importance of considering algorithm intent when evaluating venues and provide a tour of our new Venue Analysis Report. https://lnkd.in/eR4E2cSq If you’re not yet a client, contact us to learn more about our venue analysis methodology and report and to schedule a demo.

We’re excited to welcome Soundarya Srivilli to the BestEx Research team! 🎉 Soundarya joins us as a Human Resources Associate in our Bangalore office. She has 2 years of experience in recruitment, talent management, and employee engagement. Her attention to cultivating positive workspaces and forming cohesive teams sets her up for success in her new role. Beyond work, she enjoys modeling and acting in her spare time. Welcome to the team, Soundarya!

We all use markouts to evaluate fill quality, but 𝐡𝐨𝐰 they're used matters a great deal. Understanding the nuances of markouts is critical in decoding what they reveal. Swipe through the carousel to learn more about differentiating between adverse selection and price impact to improve interpretation of markouts, just one topic covered in our recent paper, "𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩". Learn more in an excerpt from the paper (including empirical evidence) at the link below. As always, feel free to reach out to our team with your questions about fill quality and venue analysis. https://lnkd.in/eVaa4Qr6 *𝘰𝘯𝘭𝘺 𝘧𝘰𝘳 𝘪𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘪𝘰𝘯𝘢𝘭 𝘵𝘳𝘢𝘥𝘦𝘳𝘴

We’re excited to welcome SHALEEN BANSAL to the BestEx Research team! Shaleen joins our team in Bangalore as a Quantitative Engineer after working with Cisco, as a software engineer in the security infrastructure team. To his new role, he brings a strong technical skill set–having coding expertise in languages like C &  C++–and a deep understanding of computer systems and networks. Shaleen holds a degree in Electronics and Communication Engineering from IIT Roorkee. Outside work, he likes to play cricket and badminton. Welcome to the team, Shaleen!

Are positive Markouts always good? Understanding markouts is key to improving execution strategy. Markouts measure fill quality by comparing trade prices shortly after execution, shedding light on adverse selection and the true cost of liquidity. While positive markouts might initially appear favorable, it's important to delve deeper into their implications. They reveal insights about the relative toxicity of different trading venues and the effectiveness of various tactics. The interpretation of positive markouts isn't always straightforward and needs to be broken down by algo tactics to understand its true meaning. Our recent paper on “𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩” explains the nuances of positive markouts by algorithm tactics and what it means for traders when they look at venue analysis. Click on the link below to read the excerpt, including how to interpret positive markouts effectively. https://lnkd.in/eVaa4Qr6 Get in touch to know more.

Understanding dark pool toxicity is crucial to optimizing execution quality. Did you know that order type and algorithm intent significantly impact adverse selection costs in dark pools? Depending on order type, differences in interactions can reveal varying levels of market toxicity. For instance, orders resting at the near side tend to encounter higher adverse selection. Curious about how these insights can optimize your trading strategy? Our clients received the paper on “𝐄𝐬𝐜𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐓𝐨𝐱𝐢𝐜𝐢𝐭𝐲 𝐓𝐫𝐚𝐩” explaining these nuances of dark pool toxicity and how traders can navigate through these challenges. Not a client? Here's the link to an impactful excerpt published on our website. https://lnkd.in/eVaa4Qr6 Get in touch to know more.

Please vote BestEx Research "Best Algorithmic Trading Provider" in the WatersTechnology.com Rankings 2024! BestEx Research was honored to be named “Best Algorithmic Trading Provider" by your votes in 2022 and we are excited to have been nominated again this year for the same. Our revolutionary algorithmic trading platform is highly transparent, flexible, and trusted. Our Algorithm Management System (AMS) works across asset classes to improve execution costs for our buy-side clients and enables our sell-side clients to develop distinguished offerings and seamlessly service their customers. Since last year, we’ve launched two new algorithmic frameworks: IS Zero, replacing VWAP for low-urgency trading, and Adaptive Optimal, allowing for the creation of tailored liquidity-seeking algos for our clients. These two additions to our platform have been impactful for our customers…and there’s much more ahead. Please show your support by voting for BestEx Research at the link below and please consider forwarding this to your team, because every vote counts and it’ll only take a few seconds. Voting closes tomorrow! https://lnkd.in/e5xuvQyJ We appreciate your consideration.