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Execution Strategies in Fixed Income Markets (在固定收益市场执行策略)
Execution Strategies
in Fixed Income Markets
Robert Almgren
April 2, 2013
Reducing trading costs and slippage is a universal concern of
asset managers. Although the decision of what assets to hold is
stil the most important aspect of investing, poor execution of trade
decisions can subtract many basis points from overall return. Con-
versely, having an effective strategy to execute trades and to mea-
sure transaction costs can enhance returns: “A penny saved in slip-
page is a
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