Benchmark-Driven strategies seek to minimize slippage relative to client chosen benchmark to improve execution performance while minimizing market impact cost. Algorithms will attempt to find the best available price in the market, which often depends on minimising market impact by concealing a large order as far as possible. Techniques to achieve that often involve slicing an order into many smaller chunks. Examples: VWAP, TWAP, POV etc.

The execution can focus multi-venue in order to cope with the fragmentation of modern financial market and the system is designed to trade on any available source of liquidity