ECS In the News
Further analysis of May 6, 2010 shows that 56 stocks from the S&P 500 would have triggered the newly proposed stock-by-stock circuit breakers.
An analysis of trading activity on May 6, 2010 shows that 35% of stocks would have triggered the short sale circuit breaker. A number of stocks fell to the lowest possible price during the course of the day.
In the SEC's final release of Amendments to Regulation SHO which discussed implementation of rules related to short sales, Jordan & Jordan's comment letter was referenced in the SEC's discussion of the appropriate threshold for a circuit breaker. Jordan & Jordan had provided statistics derived from ECS to lend support to the SEC in finalizing the parameters for triggering short sale restrictions.
What is ECS?
Execution Analytics and Compliance Solution (ECS) is a post-trade solution that helps you analyze your executions and determine your firm's compliance long before auditors do. With a breakdown of your performance against the NBBO, and a comprehensive view of the best prices across all market centers at the time of your trades, ECS offers the level of transparency you need to proactively maintain compliance.
The FIF Trade-Through Inquiry Tool shows historical protected quotes at a glance. See what makes ECS such a valuable addition to your operations.
ECS provides analysis for:
- Trade-Through (Regulation NMS Rule 611)
- NBBO Best Execution
- 606 Order Routing (Rule 606)
- Short Sale Circuit Breaker (Available October 2010)
Benefits of ECS
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Hosted SolutionRelieve the processing and storage burden from your IT department
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Secure Web InterfaceAccess your reports from a browser any time, anywhere
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Automatic Next Day ReportsHave the previous day's reports waiting for you next day
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BBO/NBBO Driven AnalysisCompare prices to NBBO or each market center offering protected quotes
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Network & Firm Quote DataCompare trades against reference network data or your firm's quote data
ECS Features
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Variable Trade-Through Quote WindowNative support for flickering quotes
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Trader or Venue "Report Cards"Create custom reports to see the performance of individual traders and venues
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Dynamic Charts with Summary StatisticsAt a glance, key performance indicators that distinguish executions
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Report Summaries and Charts for Multiple ReportsView statistics for a range of reports at once (e.g. all reports in Q1)
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Filter and Analyze your firm's executionsFind specific executions to get a detailed view of your report
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Quote Drill DownRecreate top-of-book surrounding the time of each trade
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Flags and AnnotationRecord your findings for entire reports and individual executions or flag for future follow-up
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Report ExportDownload reports as Excel Workbook or CSV for further analysis
For additional information on Jordan & Jordan's Execution Analytics and Compliance Solution, contact Michael O'Conor, 212-655-2953.