Case Study: SaaS Lit and Dark smart order routing for European equities market

Medan Gabbay

Case Study: SaaS Lit and Dark smart order routing for European equities market
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  • 420 KB File Size
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  • 24th January 2019 Create Date
  • 17th November 2022 Last Updated
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The problem

The client, an international large agency brokerage firm, wanted to revamp its execution services with the following objectives:

  • To build a set of flexible liquidity seeking smart order routing algorithms for dark venues (broker and exchange dark pools)
    and lit markets across European equities markets.
  • To provide MiFID Best Execution reporting and Transaction Cost Analysis.
  • To connect to 20+ brokers and dark pools and 10+ European exchan ges and MTFs.

The solution

The SaaS solution is based on:

  • Quod Financial Adaptive Smart Order Routing (ASOR) using aLit and Dark set of algorithms and Best Execution reporting
  • together with Transaction Cost Analysis (TCA).
  • Quod Financial Adaptive Execution Platform (AEP) - QuodNET for the dark and lit Connectivity.
File
Agency_Brokers_Client_Case_Study_SaaS_Lit_and_Dark_smart_order_routing_for_European_equities_market.pdf