Execution Algorithms

Efficient pay-as-you-go trading algorithms

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Multiple execution strategies - available through existing connectivity.

Nasdaq Nordic’s execution algorithm solution is based on an algo engine created by a specialized third-party provider. It is integrated with the smart order routing service.

  • Achieve the best possible execution price, based on your chosen strategy.
  • Minimize market impact and prevent information leakage for large orders.
  • Cost efficient pay-as-you-go service without upfront costs or running subscriptions.
  • Broker neutral.
  • Access to fragmented liquidity across multiple trading venues via smart order routing.
  • Get started quickly using your existing connectivity.

Connectivity

Order Execution Algorithms are available through the Nordic Workstation and via FIX.

Available Execution Strategies

The execution algorithms are integrated with smart order routing logics. Several different single and paired strategies are available.

VWAP (Volume Weighted Average Price) Pre-trade schedule based on historical volumes.

TWAP (Time Weighted Average Price) Executes desired quantity at a constant rate.

PVOL (Percentage Of Volume) Targets a user-defined participation rate.

IMSH (Implementation Shortfall) Minimizes risk-adjusted trading costs relative to the arrival price.

CLOS - (Close) Minimizes risk-adjusted trading costs relative to the closing price.

PNPR - (Performance Neutral Pair) Targets relative performance of execution at or better than a specified basis point spread between a pair of stocks.

SUPR - (SETUPPAIR) Used for pair trades where the trader wishes to buy one stock and sell the other making sure that the two amounts either net out evenly (SpreadLimit = 0), lock in a profit (SpreadLimit > 0) or trade at a known cost (SpreadLimit < 0).

Why Use Nasdaq Nordic’s Order Execution Algos?

Efficient execution and minimized market impact

Use execution algorithms to split up large orders according to a chosen strategy so that you can get the best possible execution price and prevent information leakage.

Cost Efficient

Get started quickly and without start up fees or costly subscriptions. Pay for executed orders only. Nordic Algo Trading is available via the Nordic Workstation or FIX.

Broker Neutral

Nasdaq Nordic’s execution algorithms are completely broker neutral and focus only on creating the best possible execution price based on your strategy.

Execution Algorithms

Other Supplementary Trading Services

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