Frequently Asked Questions
- 1) How extensive is your FIX network? Do you offer all the venues I need?
A: ESP’s Telepath™ network offers global FIX routing access to over 250 execution venues in more than 20 markets worldwide. These include DMA, Algorithmic, Cash and PT desks. ESP can also add markets or destinations upon client requests.
- 2) Using ESP, will we lose our broker commission credit or the ability to maintain our varying commission rates with broker partners for research and other services?
A: No. Clients maintain complete control. There is no change to your existing broker rates or your ability to manage and change them. There is complete transparency and flexibility between buy-side clients and brokers for research/commission credit tracking purposes.
- 3) What are the potential savings with ESP’s allocation aggregation?
A: Savings can be significant and include ticket and messaging savings. ESP offers buy-side clients a fragmentation analysis report, forecasting possible reductions in the number of total trade allocations using ESP. We require only historical allocation files over a representative period of time, and can typically turn results around for discussion in 48hrs.
- 4) Will we lose any trade data using an ESP allocation aggregation solution?
A: You will not. Data integrity is a key selling point of the ESP offerings. Original trade details are preserved in all OMS, TCA and external systems or we offer the option of further client reporting packages which include this data. ESP Clearvoyance™ can also be used as an extensive CSA management and reconciliation tool.
- 5) How do I submit my allocations?
A: Clients continue to submit allocations as they always do. ESP Clearvoyance™ is compatible with most major settlement and instruction systems, OMSs, and accounting systems, and is capable of taking settlement and allocation instructions from buy-side clients via file, MQ, FIX, OASYS or even email formats.
- 6) Will using ESP’s services complicate my existing workflow?
A: No. ESP allocation aggregation is tailored around your workflow needs. In many cases, clients also benefit from work flow efficiencies in addition to the quantifiable economic benefit.
- 7) Does ESP only offer allocation aggregation or are there other offerings?
A: ESP’s core offering is allocation aggregation. Data privacy is controlled by the client locally; the on-site data aggregation that flows from this core product implementation creates many additional client benefits including: TCA, middle office trade management dashboards, CSA management, breaks/fails management systems, custom system feeds, and innovative reporting suites for internal and external use.