---
title: Clearpool Launches Venue Analysis
description: A deep dive tool that examines trading venue performance.
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---

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[TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20)

 04.30.2018

 By John D'Antona

 Press Release

# Clearpool Launches Venue Analysis

 04.30.2018 By John D'Antona

![Clearpool Launches Venue Analysis](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/liquidnet-prepares-to-launch-bond-dark-pool-May-12-2022-09-30-03-34-AM.jpg)

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Clearpool’s Venue Analysis allows subscribers to view performance of venues on a monthly or quarterly basis. Interactive data visualizations make it easy to understand and drill into venue performance. Brokers and asset managers use Venue Analysis to analyze performance and collaborate to optimize the priority of venues in their algorithms’ routing tables to improve trading performance. Subscribers can also validate their routing protocols and demonstrate best-ex —which is critical under MiFID II and the SEC’s proposed increased order transparency regulations.

Rather than treating a venue’s performance as absolute like other existing tools, Venue Analysis gives subscribers the ability to apply multiple filters, like strategy, venue, market cap and more, in order to segment data and view performance based on the intent, or goal, of the trade.

“Some venues perform really well when you’re removing liquidity but don’t perform as well when you’re providing. Other venues show reversion when you’re sourcing midpoint liquidity but also give you a high percentage of your block prints. And venue performance isn’t constant. It’s always changing and something that needs to be measured on a regular basis.” Ray Ross, CTO of Clearpool, adds. “Our goal when building Venue Analysis was to expose a granular level of data to our clients, but make it intuitive, very visual and easy to use so that they can validate their routing protocols and optimize trading performance without having to spend a lot of time scouring over spreadsheets.”

Subscribers of Venue Analysis can view Clearpool’s entire universe of anonymized trade data, providing them with a statistically significant dataset they can use to help make decisions related to venue performance. Customers of Clearpool’s Algorithmic Management System (AMS) who also subscribe to Venue Analysis are able to see their own flow sent through the AMS and Clearpool’s universe of data on one screen, allowing them to easily compare and contrast trends.

“Our sell-side clients needed an innovative way to provide their buy-side accounts with a greater level of color and increased transparency into their order executions,” says Brian Schaeffer, President of Clearpool. “Venue Analysis allows the buy and sell sides to collaborate more deeply by providing them with unbiased data which they can use to make decisions about which venues are included or excluded in their routing tables based on the intent of a trade.”

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