Trade Process Improvement
Our team of consultants draws from years of market experience and knowledge of industry “best practices” to provide clients with rational, practical recommendations and implementation-ready plans for improvements in any aspect of the trade process. With expertise across instruments and the order lifecycle from pre-trade through settlement and asset servicing, we have a comprehensive perspective of the markets to assist you in achieving your company goals. Specific areas of expertise include:- Order/Execution Management
- Smart Order Routing/Best Execution
- Electronic Trading/FIX Connectivity
- Clearing and Settlement Across Asset Classes
- Preparation for the Industry-wide Options Symbology Initiative (OSI)
- Equities, Derivatives, Fixed Income, FX
Whether your need for process assessment and/or change is driven by market opportunity, regulation, technology, or competitive pressure, Jordan & Jordan can:
- Evaluate your present situation
- Identify preferred features/functionality
- Develop an action plan to reach the end-state goal, and finally
- Manage the project from requirements gathering through implementation
- For a global institution, prepared the international and domestic order routing architecture including total cost of ownership of current systems, documentation of existing functionality and flows, desired functionality as well as recommendations for in-house or vendor alternatives. Strategy included leveraging message-oriented middleware technology and standards.
- For a major US derivatives exchange, conducted an assessment of their mission critical trading system to determine the underlying causes of occasional outages and service disruptions, and made recommendations for immediate corrective action and longer-term plans to maintain availability with significant increases in volume.
- For a large retail broker-dealer seeking an efficient order management process for equities, options, fixed income and mutual funds, examined both build and buy alternatives, and created a roadmap suggesting an appropriate route for each security type, and recommendations for follow-up with specific vendors.
- For a major broker dealer, performed an in-depth order routing and execution analysis, identifying significant opportunities to increase their cost effectiveness and improve their best execution and compliance requirements.
- Engaged by SIFMA acting in the interests of dealers, and given Federal regulators’ concern with market resiliency, as Project Manager Jordan & Jordan is coordinating the industry initiative commonly referred to as “NewBank”. The project involves various Regulators of the U.S. government financial markets (including the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, the U.S. Treasury, and the U.S. Securities and Exchange Commission), the two primary U.S. clearing banks (JPMorganChase and The Bank of New York Mellon), major dealers in U.S. government securities, and large institutional investors. The goal is to create a “contingency plan” designed to mitigate market disruption and preserve liquidity in the U.S. government securities markets under certain circumstances.