Vision offers RealTick users the ability to access either our smart router or a robust set of algorithms. It is important to note that while RealTick was designed as a broker agnostic platform and many firms which offer RealTick allow clients to choose their execution venue, Vision only allows our own smart router or algos. We are able to offer such competitive pricing for RealTick since we aggregate our flow through specific execution partners. We feel confident that users will be comfortable with our capabilities, but understand that certain traders who insist on connecting to specific venues will not wish to transact through Vision. However, for the majority of traders our competitive pricing* and excellent execution capabilities make this a non issue. Try out our services and see for yourself why we feel that we can offer the best pricing, platform, customer service and execution capabilities.
* Vision's pricing is "all-in", with no pass-throughs or ECN fees with the exception of index options which have a pass-through fee from the exchange.
Read below to learn more about our smart routing and algorithm capabilities.
Vision Smart Execution
Vision Smart has access to major U.S. exchanges, ECNs, and various liquidity partners and ATSs. In addition to targeting displayed liquidity, Smart Router seeks to uncover hidden liquidity in public and dark venues based on historical and real-time liquidity data.
Vision Smart uses Intermarket Sweep Orders (ISOs) to maximize efficiency when accessing liquidity. ISOs allow a destination to execute immediately without having to route-out.
Coupling sophisticated routing logic with a robust, scalable and fault-tolerant proprietary infrastructure, Vision Smart is designed to bring together speed, quality and reliability in order to achieve the best execution.
- Hidden - Seek liquidity quietly and preserve anonymity. The order will not be displayed to the market.
- Reserve - Seek liquidity up to the Limit Price and then post the remainder with maximum Display Size and optional Discretion Offset.
- IOC - Exhaust liquidity up to the Limit Price and then cancel any remainder.
- Pegging - Peg to Primary (Bid for Buys / Offer for Sells) or Market (Offer for Buys / Bid for Sells) with optional Peg Offset and / or Discretion Offset.
- Auction1 - Participate in opening or closing auction. Auction order types supported include Market on Open, Market on Close, Limit on Open, Limit on Close.
- Extended Trading Hours - Pre-Trading: 7:00 am - 9:30 am EST; Post-Trading: 4:00 pm - 7:00 pm EST
Vision Algo Execution
Vision Algo is a global suite of model-driven order execution strategies, providing convenient automated execution and a track record of outstanding performance. With the full strength of our global equities platform behind every order, Vision Algo offers strong performance, reliability, and flexibility.
Each Vision Algo strategy uses a proprietary alpha forecast model to achieve superior executions. Sophisticated stealth and order routing models are also embedded in the algorithm logic, enabling the strategies to minimize information leakage and intelligently select execution venues.
Advantages of Vision Algo:
- Global Reach - Coverage of 33 markets in 22 countries
- Custom Strategies - Create tailored algorithms to achieve individual trading objectives or handle specific situations
- Outstanding Performance - Vision algorithms have a strong track record measured against a broad variety of trading benchmarks
- Integrated Analytics - Tap into sophisticated pre- and post-trade analytics for evaluation, screening, and strategy selection