Instinet Analytics’ suite of transaction cost analytics and visualisation tools – Indigo, Insight and TradeSpex – work together to define optimal execution strategies, monitor trades in real time and analyse completed orders. The tools can be accessed within Instinet’s Newport execution management system, through a stand-alone lightweight web interface or via third-party systems to seamlessly interface with user workflows. Instinet Analytics supports equity analysis in 64 markets and is being expanded to options and futures.
Order and trade-level transaction information can be routed to Insight through any EMS/OMS or direct FIX connection. Automated processes can be set up to integrate Insight into client workflows.
Clients can configure benchmarks to evaluate market
impact, price momentum, reversion and opportunity cost. Pre-trade estimates and
market adjustments can also be included. Benchmarks include: daily benchmarks;
quote/tick based benchmarks; interval benchmarks; user-defined benchmark
prices; and price improvement and spread capture metrics.
Reporting & consultancy
Instinet can report in real-time or any
user-defined time period, intraday or historical. Clients can group and
aggregate trade data across market cap, liquidity, sector, region and other
categories. Visualisation tools provide clients with a snapshot of trade
activity and factors influencing performance.
Instinet’s execution specialists consult with clients to
help achieve their investment objectives.
TradeSpex allow traders to evaluate both baskets and single stocks. Cost
estimates are based on Instinet’s Global Market Impact and METRIC (Market
Estimated TRade Impact Cost) models.
The platforms can generate cost estimates based on the
full trading day or the optimal trade horizon (including multiday trades),
adjustable for risk tolerance. Pre-trade estimates can be compared to realised
TradeSpex’ advanced portfolio construction tools provide
an optimiser and associated tools for index and quant portfolio rebalancing.
Instinet is working to broaden support for non-equities asset classes.