Trade Order Routing and Execution Assessments

As firms plan their strategies to maximize trading opportunities and meet competitive pressures through direct market access, algorithmic trading models and dark pools, they must at the same time manage the significant impact of regulatory changes on their business process, compliance procedures and technology systems.

Jordan & Jordan has a broad view and deep understanding of the complex issues brought on by an evolving market structure in a rigorous regulatory environment. We have been assisting clients with enhancements to fulfill compliance obligations with risk control and trade monitoring as well as meeting customer expectations for performance with recommendations for low-latency platforms, streamlined order handling processes and cost effective client service operations.

Develop Cost Efficient, Compliant Order Management and Routing Strategies

Jordan & Jordan’s recommendations for changes in workflow, systems, policies and procedures consider business and compliance needs, system requirements, data management practices, and organizational structure. Our assessment programs result in practical plans for improvement in any aspect of the trade process. Leveraging our work with the FIX Trading Community on routing and execution transparency, combined with our proprietary tools for monitoring execution quality, we are able to help you develop optimal order routing strategies.

Relevant Engagements

  • Prepared the global order routing architecture for a global institution, 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 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.
  • Assisted several clients that provide their clients with sponsored direct market access to establish their order handling and routing procedures to meet regulatory requirements and compliance reporting obligations.
  • For a major broker dealer we 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.