As the equities market has become increasingly electronic, it has become increasingly efficient. But the traditional exchange matching process, while down to microseconds, may not be the best way to match buyers and sellers. Historically, brokers have spent an enormous amount of energy building algorithms to slice and dice exchange orders to minimize market impact, notes Roman Ginis, CEO, Imperative Execution, which runs the IntelligentCross ATS. Speaking with TABB Group founder and research chairman Larry Tabb, Ginis explains the IntelligentCross mid-point matching process and how it minimizes price movement while maximizing matches.
Interviewer: Larry Tabb
Source: TABB TV
Categories: Equities, Fintech / Crypto
Topics: Equity trading, Market structure: Exchanges, ATSs, ECNs, Risk management, Trade Process Analysis, Trading technology infrastructure, Transaction cost research