Equities dark pool IEX has partnered Abel Noser Solutions (ANS) to measure execution quality and evaluate subscriber performance on the new venue.
Increasingly, transaction cost analysis (TCA) evaluates specific execution venues in an effort to detect information leakage and adverse selection. Abel Noser will perform this task and provide data to IEX on a quarterly basis in order for IEX to enhance analysis of trading on its own market as compared to that on other venues.
By providing that information, including fill level analysis that measures data up to the millisecond, Abel Noser Solutions will help the IEX platform validate its approach and enhance execution quality analysis.
“We at IEX take pride in our cutting-edge technology and balanced market design, but it only matters to investors and their fiduciaries if we can support our trading performance with third party metrics that are also trusted. We are proud to partner with Abel Noser to validate, measure and benchmark the high quality execution that more and more stakeholders are receiving by trading on IEX,” says Brad Katsuyama, Chief Executive Officer and Co-Founder of IEX.
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