01 March 2008
Quod Financial Empowers the Buy-Side
- Advanced execution and smart-routing to brokers and marketplaces
London, 25th March 2008: Quod Financial, the leading provider of advanced
execution technology for the global capital markets, today unveiled its
solution for buy-side execution management. Capitalising on the experience
and innovative technology of their established sell-side Advanced Smart-
Order Router (Quod ASOR), Quod Financial empowers the buy-side by
offering a new decision making and order routing technology.
As the European capital markets continue to change dramatically under
MiFID, buy-side institutions aim to repatriate in-house the execution
intelligence of the sell-side. This translates into having the technology which
enables the buy-side to:
- Decide on the execution brokers based on dynamic analysis of
quality and performance
- Dynamically decide on the type and quality of broker-based
algorithms
- Build a smart-order routing capability to select the final exchanges,
MTFs and dark pools. With the advent of liquidity decentralisation and the
absence of DMA, this is an increasingly necessary tool
Quod Financial’s buy-side ASOR leverages its existing sell-side class
technology and algorithms, and brings a new level of dynamic decision
making and routing capability to the buy-side community. In addition, it
provides the possibility to have a comprehensive multi-asset execution
strategy which mirrors the cross-asset investment strategy.
“This is the next step in the evolution of the European capital markets,” states
Ali Pichvai, CEO and co-founder of Quod Financial. “Having successfully
gained momentum in the post-MiFID sell-side advanced smart order routing
space, we have been invited by leading buy-side institutions to reutilise our
technology to meet a number of challenges; implementing their complex
execution strategies, proactively measuring the quality and performance of
their brokers and their algorithms, as well as addressing liquidity
fragmentation. We are confident we can meet this challenge, assisting our
clients in gaining full independence.”
Built on a low latency, high performance infrastructure, Quod ASOR’s
combination of algorithms and trading-specific Complex Event Processing
(CEP) dynamically adjusts the execution pattern of an order against the
client’s individual best execution criteria. The ASOR is uniquely positioned to
provide adaptive decision making and routing, and liquidity management.
Quod ASOR is already live and proven with a number of leading international
brokers, and is one of a number of advanced execution modules built upon
the Quod Advanced Execution platform.
“Our underlying technologies have enabled us to create a smart-order router
that is not only well adapted for the sell-side, but is now a viable solution for
the buy-side. Our R&D effort continues to position us at the forefront of
innovation in this fast-moving field”, concludes Pichvai.