Slicer
Slicer is designed for clients who want to get the best possible price with minimal market impact. By splitting the orders up into a number of much smaller orders, and then "drip-feeding" them into the market, you can reduce the impact the whole order has on the market.
Case Study
"I want complete control whilst reducing market impact"
The CFO at a US manufacturing company needs to buy a large amount of AUD to pay for raw materials. Because of its size and the current volatility of the AUD, the trade could have a material impact on the company’s P&L, so, the CFO wants full control over the execution. The CFO decides that it will have to split the order up into smaller trade sizes and execute it over the course of the day. He decides that ideally he would like to only trade whilst the London market is open and he does this by setting a defined start and end time. But, he also decides that whatever happens if the market moves to a certain level he wants the strategy to start and he does this by using the Start Level function. He is able to set the frequency or the size of the trades by setting the clip interval or the clip size. Ideally there is a maximum price level he is prepared to pay and so he inputs the limit price that he wants the strategy to pay up to. Finally he realises that prices are quite volatile in the AUD market and he does not want to spoil his average rate by paying some wide spreads. He can also control this using the maximum spread function.
Sample Screenshot
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