Automatic Best Execution Functionality

[Canuck]

Best Execution for two runner markets is the one function that BetAngel glaringly lacks, that would be simple for you to implement, and it would result in incredible benefit to your customers.

Both before and after Betfair’s cross matching came into effect, BetAngel has never given its customers Best Execution when they take a price.

For example, take a two runner market, Atlanta at Cleveland. Atlanta is quoted at 1.60 – 1.62. Cleveland is quoted at 2.6 – 2.68.

When at BetAngel customer wants to back Cleveland, and enters a Back Order on BetAngel, his order is not submitted, and not filled, at the Best Execution price (which is to Lay Atlanta at 1.62). Instead, BetAngel allows the customer to get filled at Backing Cleveland at 2.6, which is, in effect 1.625 on Atlanta, rather than 1.62, depriving the customer of .005 due to lack of Best Execution functionality. In another way of looking at it, the customer would obtain a price of 2.612 with Best Execution rather than 2.6 with the current BetAngel functionality.

With Best Execution functionality, a BetAngel customer who backs Cleveland at 2.6, would have his order split up. An order would be first sent to Lay Atlanta at 1.62, then, if the quantity showing in the market at 1.62 is not enough to fill the order, an order would be sent to Back Cleveland at 2.6.

I believe the only way to currently implement this functionality in BetAngel is with a cumbersome spreadsheet.

I use the Manual Bet screen in BetAngel for most of my trading and I would be interested in having a Custom Button that has same functionality as the current Back and Lay buttons but with a built-in Best Execution algorithm.

Since I do a significant amount of trading, I would be willing to hire BetAngel to create this automatic Best Execution functionality on a bespoke basis for two runner markets.