Every layer. One lens.
Your outcomes.

An institutional order passes through six layers, from the investment decision to the liquidity. Each sees a piece; none sees the whole.

CalcGuard is the foundation underneath: one synchronized, normalized record that every layer reads the same way. We do not call balls and strikes. The outcomes are yours and your partners’.

The CalcGuard Network · layer by layerNarrated · 3:24

One order, followed down the six layers and back again.

The six layers

The decision travels down to the liquidity, and what happened is fed back up to every layer.

01OriginationAsset managers and the investment decision

02TechnologyOMS, EMS, outsourced tools, service bureaus, fintech

03Broker and decisionExecuting and introducing brokers, and their desks

04RoutingSOR, algo wheels, optimizers, third-party routing

05LiquidityHosted rooms, SDPs, ATSs, exchanges, block and principal

06Feedback and analysisMeasurement, methods, pre- and post-trade, research

Where to go next

The detail lives with each audience, behind its own sign-in.

Sign-in requiredIntegration partnersBroker-dealers and desks: the integration guides, the field workbook and the sell-side film.Partner sign-in or request access →Sign-in requiredMSTI participantsThe Market Structure Transition Initiative: five pillars, one shared baseline.The initiative →Sign-in requiredVenues and liquidity providersHow liquidity reads on the shared record.Liquidity →Sign-in requiredInvestorsThe CalcGuard briefing, by invitation.The briefing →

Take your place

Bring your lens, and your partners.

Tell us which layer you sit in and who you would want at the table with you. We set up the foundation; the work is yours.

contact@calcguard.com