Participation rate, or percentage-of-volume (POV), caps your trading at a set share of the market's volume — for example, never more than 20% of what prints. It keeps a large order from dominating the book.
The more of the visible volume you take, the more you move the price against yourself (market impact). Holding a cap — say 15–20% — keeps your footprint small and your fills closer to the untouched price.
A lower cap means lower impact but a longer time in the market, which raises exposure to drift. The right cap balances impact against how long you can wait. EnsoTrade's execution runs with no fixed deadline under a participation cap.
EnsoTrade prices a large order against live order books across venues — which venues to use, what size each piece should be, and whether to rest an order or cross the spread. It is independent measurement, not execution: your own desk or execution partner keeps placing the orders on its own accounts, and we never touch custody, keys or funds. Before a window we price it at your real clip size on the venues you can use; after a window we score the fill with full workings. We quote no price or saving until you give your real clip size and fee stack — then the number is yours to check.
Price an order before you trade and score the fill after, on live multi-venue order books. We never touch custody, keys or orders — the independence is the point.
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