Execution Strategies in Fixed Income Markets (在固定收益市场执行策略).pdfVIP

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Execution Strategies in Fixed Income Markets (在固定收益市场执行策略).pdf

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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