Client need
A small fund with patient capital wished to take positions in small-cap equities that trade infrequently. Rather than manually enter orders throughout the day, he asked Talosian to help with his execution.
Variable sizing, volume, and price limits
The order size, desired daily volume, and acceptable price ranges varied widely by company.
Selectable execution strategies
Talosian developed three execution strategies: joining bid/offer, working orders mid-market, and crossing bid-ask. The trader could select zero to many strategies for an equity, enter the desired maximum daily volumes, and min/max price. The strategy would then enter trades throughout the day and cease trading once volume limits were hit.
IBKR Gateway, Java, AWS
We used our base Java application connecting to IBKR Gateway endpoint running on an Amazon Web Services EC2 virtual machine.
Less order-book micromanagement
The fund trader was able to set his desired price range, direction, and daily volume in order to work into or out of positions without having to micromanage his order book.