The term “best execution” refers to the order execution principles followed by financial services firms. These principles apply when a client has not specified any particular requirements when placing an order. In the absence of explicit instructions from the client, the broker must, in accordance with the best execution policy, execute the order in such a way as to achieve the best possible result for the client.
If you have licensed the “Best Execution (OTC)” process, you will find a corresponding entry in the process selection list.
Select this, for example, whilst the “Overview” tab is open, to view the list of results for this process.
To process the outliers for this process, select the “Best Execution (OTC)” process from the process selection list and then click to switch to the “Outlier” tab.
By default, the overview and the list of trading venues for the “Best Execution (OTC)” process displays the following columns in detail:
|
Column |
Description |
|---|---|
|
Result |
The result of the check. Possible values in the column:
|
|
Product category |
The product or asset category of the instrument. |
|
Trade ID |
The individual trade ID of the instrument. [Client data] |
|
Client ID |
The individual client IDs of the instrument. [Client data] |
|
ISIN |
The ISIN of the instrument. |
|
Infront ID |
The unique Infront ID of the instrument. |
|
Short name |
The security name (short name) of the instrument. |
|
Trade date |
Date and time at the instrument's trading price. [Client data] |
|
Ccy. Trade price |
The currency at the instrument's trading price. [Client data] |
|
Trading price |
The trading price of the instrument. [Client data] |
|
Daily low |
The daily price low of the instrument on that trading venue. |
|
Daily high |
The daily price high of the instrument on that trading venue. |
|
Comment 1st validation |
The specified comment on the initial validation of this instrument. |
|
Validated by |
The name of the initial validator or "system". |
|
Comment 2nd validation |
The specified comment on the second validation (approval) of this instrument. |
|
Released by |
The name of the releasing instance. |
|
Trade time interval |
The time interval of the price valuation of this entry - for example, "5 minutes", "1 hour" or "end of day". |
Via the settings dialogue, you can also show the following columns:
|
Column |
Description |
|---|---|
|
Date |
Processing date and time of the instrument. |
|
High price date |
Date and time at daily price high of the instrument on that trading venue. |
|
Low price date |
Date and time at daily price low of the instrument on that trading venue. |
|
Error |
The error type of the entry. |
|
Trading venue |
The trading venue of the instrument. |
|
Comment feed |
The specified comment on the feed (delivery) of this instrument. [Client data] |
|
Price type |
The quote type of this instrument, for example:
[Client data] |
|
Price type high |
The quote type of the daily high, for example:
[Client data] |
|
Price type daily low |
The quote type of the daily low, for example:
[Client data] |
|
Price date validated |
The time of recording this price. |
|
Nominal |
The nominal value of the entry. [Client data] |
|
Product category ID |
The unique ID of the asset category of the instrument, for example "1000" for the category "Equities and equity-like" or "4000" for the category "Certificates". |
|
Strategy |
The test strategy used that is used for this entry, for example:
|
|
Daily high price validated |
The validated price high for the day. |
|
Daily low price validated |
The validated price low for the day. |
|
Ccy. Trading venue |
The currency at the instrument's trading venue. |