BestEx Research Launches TASClose, a New Algorithm That Maximizes Settlement Price Capture for Institutional Futures Traders

First-of-its-kind algo pairs TAS and close execution into a single managed strategy for clients benchmarking to settlement

STAMFORD, Conn., March 11, 2026 /PRNewswire/ -- BestEx Research today announced the launch of TASClose, a new execution algorithm that helps institutional futures traders achieve the settlement price by optimizing execution across TAS and underlying futures liquidity during and around the settlement window.

Commodity-focused hedge funds, asset managers, ETF managers, and index funds frequently benchmark to the daily futures settlement price for valuation and performance tracking. Achieving that price cleanly is critical for minimizing slippage against NAV.

Settlement prices are calculated as a VWAP over a narrow window, often the final one to two minutes of trading, and executing directly in that window exposes traders to market impact and the risk of fills that diverge from the benchmark. TAS (Trading at Settlement) contracts offer an alternative by letting traders lock in a price defined as an offset to the eventual settlement price, effectively guaranteeing the settlement price without having to trade during the settlement window. However, TAS liquidity may not always be available at a zero offset, so traders often need to execute across both TAS and the underlying market simultaneously. Finding the optimal mix between the two while avoiding overfills has historically required real-time manual coordination.

TASClose solves this. Clients can submit a TAS order and an underlying futures order, and the algorithm links them and trades both legs in a coordinated fashion, optimizing to minimize deviation from the settlement price while minimizing market impact.

"Many of our clients have been leaving TAS liquidity on the table because of the complexity of coordinating execution across TAS and the underlying futures market. TASClose handles that coordination automatically, optimizing the mix of execution so clients can capture the settlement price without the operational burden," said Nick Ashwin, Product Manager for Futures & Head of Execution Services, EMEA at BestEx Research.

"We've built what we believe is the most advanced algorithmic trading platform available for futures today, and the adoption by some of the largest hedge funds and asset managers in the world has been tremendous. We are committed to continuing to innovate to reduce execution costs for our clients, and TASClose is the latest example of that," said Hitesh Mittal, Founder and CEO of BestEx Research.

TASClose is available across 29 TAS-eligible markets, including Crude Oil (CL), Natural Gas (NG), Copper (HG), Corn (ZC), with support for both outrights and calendar spreads. A full list of supported contracts is available here. BestEx Research will expand coverage in accordance with client demand. To learn more or schedule a walkthrough, contact us at [email protected].

About BestEx Research

BestEx Research Group LLC is a provider of sophisticated execution algorithms for equities and global futures aimed at reducing trading costs for buy-side managers. The firm's cloud-based Algorithm Management System (AMS) combines its execution algorithms with a user-friendly dashboard, transaction cost analysis, customization, and automation in the industry's first multi-asset, independent algorithmic execution platform. BestEx Research also offers sell-side firms a seamless, customizable trading solution for their clients with no coding required. For more information on BestEx Research's mission and products, or to request a product demo, visit www.bestexresearch.com.

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SOURCE BestEx Research