Implementation Shortfall Doubt

CFA Level III Portfolio Management
#1

Hello Guys, Please somebody can show the calculations of all the 4 components of the total cost under Implementation Approach for the sum below. I am having a bit hard time here. Thanks

Here is the Question Image- https://imgur.com/5oAT28L (Not getting how to attach directly here)

#2

Benchmark price = Decision price = 12.45 Execution price = 12.51 Cancellation price = 12.9

The realized gain/loss component is (12.51-12.45) * 6000/ (15000*12.45) = 19.28 (bps)

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#3

Thanks for the response. But why is the benchmark price=decision price , why isnt the benchmark price GBP 12.50 which is closing of Tuesday?

#4

The benchmark price is based on the price at which you decided to enter into the trade which was 12.45

#5

the price which we decide to enter is decision price, isnt it?

#6

Yes