Archilepago has joined the rush to equip trading houses and investors with trade execution monitoring and measurement tools. The trading platform announced the launch of Execution Quality Information Product (EQIP) designed to further push openness in the financial markets by providing market participants with valuable market center trade execution comparisons.
In response to the recent Security and Exchange Commission (SEC) rules requiring public disclosure of order execution and routing practices, Archipelago created EQIP, the first free to the public, fully functional trade execution comparison tool, that simplifies complicated data into a format that can be searched and viewed quickly and easily, affording users the ability to compare reports among different market centers. Importantly, EQIP was designed with an understanding of the marketplace recognizing its diverse participants and the varied order flow among markets centers. As such, EQIP’s functionality and measurement variables can be customized for different audiences, from the view of a professional trader to an individual investor.
“Execution quality is a subject we hold very close to our heart,” commented Archipelago CEO Jerry Putnam. “In line with Archipelago’s focus on bringing everything out in the open, the introduction of EQIP allows investors to unlock some of the hidden secrets of trade execution. The SEC took the first step in requiring market centers to provide this data and EQIP takes the next step in opening up these reports to all investors.” Putnam added, “While some services offer some of this information to their customers, few do it across the complete scope of market centers, and none have made this publicly available to the masses.”
EQIP architect and Archipelago market strategist Jenny Drake added, “From a functionality perspective, what’s new here is an ability for market participants to make this product their own. We have employed technology that enables the public to manipulate and analyze this data in many different ways. We’ve also utilized key attributes attuned to the diverse needs of multiple market participants and can even customize reports on request.”