Smart order routing Archive

Tora Trading, a provider of agency brokerage services and trading technology to the Asian markets, has linked its TORA Compass trading platform to the Tradeweb Routing Network (TRN). read more>

Buy-side institutions can now connect to Quote MTF, the new Hungary-based multilateral trading facility, via Neonet, an agency broker and trading technology provider. read more>

CM-CIC Securities, the investment arm of French banking group CM-CIC, has chosen a low-latency solution from trading technology provider QuantHouse to help it provide execution services to its buy- and sell-side clients across Europe. read more>

Nasdaq OMX Europe, the pan-European multilateral trading facility (MTF) owned by exchange group Nasdaq OMX, will start routing to non-displayed liquidity venues, including its own NEURO Dark platform, from 10 August. read more>

Almost half of buy-side traders say their primary consideration when using brokers’ smart order routers (SORs) is that orders are routed to support best execution, rather than covering sell-side costs. read more>

On the face of it, many of the complexities associated with routing an order to the venue that will deliver best execution are eliminated in the US by rule 611 of Reg NMS. read more>

As liquidity fragmentation becomes more pronounced in Europe’s equity markets, the industry’s calls for a consolidated European-wide pre-trade data source have grown ever louder. But how would a single European best bid and offer (EBBO) impact the performance of smart order routers (SORs), which currently direct orders by using proprietary solutions that combine multiple data feeds, and will it raise more questions than it answers? read more>

The recent increase in BATS Europe’s share trading in stocks listed on NYSE Euronext’s European exchanges goes some way to proving that pricing structures play a big role in the battle for business between Europe’s trading venues. read more>

With a glut of trading venues arriving on the European equity trading landscape, access to an effective smart order router (SOR) to navigate between them is now crucial for buy-side traders in their quest for best execution. read more>

Goldman Sachs Electronic Trading (GSET) is upgrading its SIGMA smart router to allow clients to seek the best price for dual-listed stocks across US and Canadian stock trading venues, while using real-time FX rates for single currency settlement. read more>