To manage your internal liquidity
Internal liquidity is often an untapped resource. Internalisation opportunities arise from crossing clients’ orders and from crossing clients’ orders against the firms’ own inventory. Yet often firms consider the crossing opportunities to be too few to justify the investment, or don’t want to be exposed to the regulatory obligations.
That’s where QF Adaptive Cross (ACross) comes in. It is based on the pioneering concept of considering your internal liquidity as yet another source of liquidity, and continuing tapping external venues, whilst internalising the clients’ orders, giving you the best of both worlds. ACross is based on a matching engine, which embeds Quod Financial’s Adaptive Smart Order Router (QF ASOR), giving you the option to cross internally and simultaneously seeking liquidity on external venues. The intelligence of the process resides in our ASOR which has a complete view of liquidity at all times, and mitigates the risks in such complex internal/external execution.
The ACross can also be used purely as a matching engine, with different matching processes and algorithms, transforming you into an Alternative Trading System (ATS) or Multi-lateral Trading Facility (MTF) provider. This is the first step to prepare for MiFID II and Dodd-Frank regulatory body.
The benefit of ACross is to transform your internal liquidity into a cost-saving and revenue generating operations, while you provide the level of transparency, reporting and surveillance required by regulators at little cost.
QF Adaptive Cross - the perfect match every time.
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