The Karn Group

Best Execution
Trade Supervision

TKG provides the most accurate, easiest to use best execution services in the industry.

TKG offers broker-dealers a user-friendly platform to monitor execution quality from both the order and trade perspective. TKG’s web-based analytics, compliance auditing tools, and daily exception reporting offer the industry the most advanced and robust system.

Best Execution Trade Supervision Features:

Best Execution Trade Supervision Features:

  • Supervises trade execution on both the order and trade level with the most comprehensive list of exception rules by order types, order conditions and trading sessions.
  • Calculates key statistics such as effective spread, quoted spread, effective over quoted and price improvement percentages on your private data.
  • Compares markets and executing venues with the best execution statistics of your private trades data and public NMS 605 reports.
  • Manages supervisory workflow updates, responses and resolutions.
  • Emails automated exception reports to internal desks and external market centers.
  • Analyzes order types and sessions not covered by NMS 605 with extended statistics.
  • Audits and data mines your order flow orders and trades utilizing extensive selection criteria.


How are customers supported?

A subject matter expert is assigned as your primary support. In addition, you will have access to alternative support staff to ensure you can always get immediate support when needed. You will be provided with the email addresses and telephone numbers of all support personnel.

How is implementation managed?

A subject matter expert will lead your implementation. Experts in business requirements, data analysis and security will be involved at the appropriate stage to ensure a smooth and satisfactory experience.

How does TKG maintain data security?

Your data is secured both at rest and in transit. Data at rest is encrypted using either PGP, GPG or PKA. Data is transmitted to TKG using SFTP, SSH Web Services, VPN and dedicated telecommunications connections. TKG accepts fixed and delimited files, XML messages and FIX messages.

Does TKG support Single Sign On (SSO)?

TKG supports SSO with Security Assertion Markup Language (SAML) protocol. We can also implement custom SSO solutions to client specifications.

How is access managed and workflow documented?

TKG’s comprehensive entitlement system allows customers to control access to review and approve data and exceptions. In addition, all actions and entries are logged and automatically archived.

Can the system be customized?

Users can customize system parameters through the user interface. TKG can implement additional rules and features during system setup or later on an ad hoc basis.

What market data is collected by TKG?

TKG sources NBBOs, quotes, trades, and admin messages from NMS, Options, OTC and Canadian markets.

What customer data file formats does TKG accept?

TKG recommends customers format data according to our file specification. Alternatively, TKG accepts a broad range of file formats from third parties, order management systems, clearing firms and customer internal systems.