Best Execution Review demo

What the demo shows

Builds the quarterly best-execution committee pack for heads of trading, exceptions explained

The committee pack is the screen: its pages down the left, the page itself in the middle, the agents' conversation beside it. Seven agents build it. The Data agent pulls the quarter from the order and execution systems and the cost analysis provider and reconciles the counts; the Outlier agent applies the firm's thresholds and codes every order it sets aside; the Rationale agent finds the documented reason for each outlier in trader notes, PM instructions, messages, market events and RFQ logs, in the original language, and asks the trader only when none exists; the Second Look agent checks every reason against the market record, blind; the Broker & Venue agent ranks brokers and checks whether last quarter's actions worked; the Tie-out agent ties every pack figure to its provider row; the Pack & Minutes agent assembles the pages and drafts the minutes. The head of trading accepts reasons and approves the pack, compliance countersigns, the committee votes, and traders explain their own trades but never accept them.

Transcript

1. 0:00Best Execution Review builds the quarterly best-execution committee pack for heads of trading.
2. 0:08Missing best-execution reviews top the SEC's list of advisor deficiencies.
3. 0:16At Quillfield Capital, agents read 41,280 orders.
4. 0:24The pack is the screen, every page on the left tied to cost analysis.
5. 0:31Agents selected 63 outliers, found 58 reasons, and asked traders for five.
6. 0:40Norvick Energy sold at minus 184 basis points.
7. 0:44The note says halt 202.
8. 0:48A second agent confirmed the halt in the market record and questioned two notes.
9. 0:55Callaway Markets is above expected cost a third quarter.
10. 1:00Agents propose a watch list.
11. 1:04Head of Trading Sam DeLuca accepts the checked reasons and approves the pack.
12. 1:10Every figure cited, every decision signed, every step logged in one examiner export.
13. 1:17The pack was ready in two hours, with 58 of 63 reasons found.
14. 1:24Built on Botminds: agents, data, screens, and governance on one platform.

Transcribed from the film’s narration. Captions are on the player.