Institutional Customers :: Valdes & Moreno - Institutional Brokers & Investment Bankers

INSTITUTIONAL CUSTOMERS

peace of mind, n.
1. Technology that works. The confluence of performance, reliability and security. 2. Complete anonymity for your trades. 3. What you get when you trade with Valdés & Moreno, Inc.

best execution, n.
1. Obtaining the best combination of price, speed and liquidity on stock trades. 2. Minimizing the hidden costs of trading inefficiencies. 3. What you get when you trade with Valdés & Moreno, Inc.

STATEMENT OF CAPABILITY

Valdés & Moreno, Inc. drives trading efficiency by maximizing speed and minimizing costs. We enhance your performance by reducing the hidden costs of trading.

Hidden costs occur when trades are poorly executed due to delays and selection of expensive order routing systems. The results are increased costs and diminished returns to the investor.

Delays occur when it takes a broker, searching for liquidity over highly fragmented markets, several minutes to manually execute an order. In the meantime, the stock price can move away from the investor and increase the total cost of the trade.

Increased trading costs can also occur when a broker has a conflict of interest due to reliance on principal trading or payment for order flow. We route orders based solely on the best interests of our clients. We always act as agent and never route orders based on payment for order flow.

Valdés & Moreno, Inc. employs technology that searches across major electronic communication networks (including Archipelago, Bloomberg, Brut, Instinet, Island and RediBook), major stock exchanges (including New York and American) and major market makers (including NITE and SILK) to find the best combination of price, speed and liquidity for our clients.

Orders of less than 100,000 shares are typically completed in about 40 seconds depending on market volatility and volume, which could impact system access and order execution. For your convenience, we aggregate all order executions and report back to you one trade at an average price for processing and clearing.

The trade execution platform that we utilize includes single-stock and basket trading capabilities, intelligent order routing technology and a portfolio rebalancer. Institutional investors of all sizes and styles can trade with speed and anonymity using our brokerage services.

Our singular focus is to help you improve your performance by reducing or eliminating the hidden costs associated with inefficient trade execution.

TIME SLICING

Time slicing allows you to execute orders throughout the course of the entire trading day or for a specified period of time. Time slicing eliminates costly order management and lessens your vulnerability to the massive price swings in the market that have become commonplace.

This is how time slicing works. Upon giving me an order, you will define the time period between executions. The order will then be entered into a computerized trading system which will divide the order by the remaining periods left in the day. From there, the system will automatically execute a market order at each interval until the order is completed. Each individual market order will automatically be afforded the opportunity to achieve price improvement better than the current national best bid and offer. This will ensure that each individual market order receives the best possible price available at the time. Each execution will be immediately reported to the consolidated tape. Upon completion of the entire order, the system will combine all of the individual trades into a single execution report. I will then report back to you a single execution at an average price. This price will be the actual average of all the individual executions. A single trade will then be submitted to clearing for regular way settlement.

The advantages of time slicing are clear. You will receive a single execution that is the average price of all the individual executions. The trade will reported back to you as a single transaction. This way multiple ticket charges are avoided and chances of error are dramatically reduced. Manually working large orders is more labor intensive and costly. Time slicing ensures your active participation in the market throughout the day. Slicing large orders into smaller orders will also significantly lessen the market impact so often associated with large orders and provide your order more anonymity in the marketplace due its execution as a series of more discreet transactions. Furthermore, you will avoid the risk of market timing decisions for the day.

Investment Brokers & Financial Advisors