Execution Strategies

This page describes the execution strategies that are currently available through Studio's EMS, both via the UI and API.

SOR

Flexible smart order router that accesses liquidity with a time-on-target routing strategy by optimally reaching market centers at the same time.

DARK

Intelligently accesses dark, grey, and hidden liquidity across a wide spectrum of venues and order types. Strategy also optimizes the use of conditional and exchange order yypes (e.g. Nasdaq MELO and IEX D-Peg)

POV

Schedule-based algorithm that targets the user specified percentage-of-volume benchmark. Prioritizes achieving POV, while optimizing real time events along with forecasting trajectories for execution quality and impact.