8. What trading functions are automated? What process do you have in place for human verification? Who signs off on final trading? 9. Describe the allocation objectives and implementation procedures across all accounts. What is the process by which trades are allocated across separate accounts as opposed to commingled accounts? Please describe both the tactic of allocating the initial trade as well as the strategy of building positions across accounts. 10. What trading channels, networks, or methods do you use to access the liquidity you require to manage this strategy? 11. Describe how you measure trading costs (commissions and market impact). How do these costs compare with those of your peers who run a similar approach? 12. What is the dispersion in the composite? What steps have been taken to minimize the dispersion among accounts? 13. How has the execution of your investment process been impacted by growth in assets under management for this product? 14. What is the estimated capacity of the product, and how was this figure derived? E2. Trade Order Compliance, Composite Disclosures, and Soft Dollars 2. Is your firm GIPS compliant? If so, for how many years has your firm been GIPS compliant? 3. Has your firm’s GIPS compliance been verified by a third party? If so, who was the verifier? When was the last verification?
8. What trading functions are automated? What process do you have in place for human verification? Who signs off on final trading? 9. Describe the allocation objectives and implementation procedures across all accounts. What is the process by which trades are allocated across separate accounts as opposed to commingled accounts? Please describe both the tactic of allocating the initial trade as well as the strategy of building positions across accounts. 10. What trading channels, networks, or methods do you use to access the liquidity you require to manage this strategy? 11. Describe how you measure trading costs (commissions and market impact). How do these costs compare with those of your peers who run a similar approach? 12. What is the dispersion in the composite? What steps have been taken to minimize the dispersion among accounts? 13. How has the execution of your investment process been impacted by growth in assets under management for this product? 14. What is the estimated capacity of the product, and how was this figure derived? E2. Trade Order Compliance, Composite Disclosures, and Soft Dollars 2. Is your firm GIPS compliant? If so, for how many years has your firm been GIPS compliant? 3. Has your firm’s GIPS compliance been verified by a third party? If so, who was the verifier? When was the last verification?