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Estimate instantaneous trading cost for order

`itc = iStar(k,trade)`

returns
the instantaneous trading cost of an order using the Kissell Research
Group (KRG) transaction-cost analysis object `itc`

= iStar(`k`

,`trade`

)`k`

and
trade data `trade`

. To estimate the instantaneous
trading cost, `iStar`

uses the I-Star trading
cost model.

For details about the formula and calculations, contact the Kissell Research Group.

[1] Kissell, Robert. “A Practical Framework for Transaction
Cost Analysis.” *Journal of Trading*.
Vol. 3, Number 2, Summer 2008, pp. 29–37.

[2] Kissell, Robert. “Algorithmic Trading Strategies.” Ph.D. Thesis. Fordham University, May 2006.

[3] Kissell, Robert. “Creating Dynamic Pre-Trade Models:
Beyond the Black Box.” *Journal of Trading*.
Vol. 6, Number 4, Fall 2011, pp. 8–15.

[4] Kissell, Robert. “TCA in the Investment Process:
An Overview.” *Journal of Index Investing*.
Vol. 2, Number 1, Summer 2011, pp. 60–64.

[5] Kissell, Robert. *The Science of Algorithmic
Trading and Portfolio Management*. Cambridge, MA: Elsevier/Academic
Press, 2013.

[6] Kissell, Robert, and Morton Glantz. *Optimal
Trading Strategies*. New York, NY: AMACOM, Inc., 2003.

`krg`

| `liquidityFactor`

| `marketImpact`

| `priceAppreciation`

| `timingRisk`

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