%0 Journal Article %A John Wightkin %T Grading Algorithms %B A New Paradigm %D 2007 %J Trading %P 35-39 %V 2007 %N 1 %X Algorithmic trading has seen astounding growth in the last few years. The abrupt growth has resulted in a failure of measurement tools to evaluate the performance. A move from the standard benchmark performance report into an in-depth investigative measurement technique is imminent. A proper measurement system involves three focal points: proper classification of similar algorithms, an accurate cost attribution system and a quantifiable execution quality analysis. Proper classification allows for comparison between multiple algorithms with similar intent. Accurate cost attribution is crucial in determining the impact of the algorithm's executions. A quantifiable execution analysis gives color into the propensities of the algorithm and logic on which it is built. %U https://guides.pm-research.com/content/iijtrading/2007/1/35.full.pdf