The post-execution art of slicing a parent order across accounts with logic that withstands compliance scrutiny and client comparison shopping. Portfolio managers fire a block ticket into the market to curb information leakage and price drift; once fills land, an allocation engine divvies the executions based on pre-defined keys—pro-rata on order size, risk parity against mandate limits, or tactical tilts that accommodate cash flows and rebalance drift.
Time stamps, average price records, and broker confirmations lock into an immutable ledger so auditors can trace each fragment from blotter to balance. Any override demands contemporaneous justification, because slippage that drifts toward higher-fee funds or insider accounts will not survive a regulator’s lens.
