Product Brochure: Smart Order Routing (SOR)

Medan Gabbay

Product Brochure: Smart Order Routing (SOR)
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  • 5th November 2018 Create Date
  • 17th February 2020 Last Updated
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In the modern market, executions require an Adaptive Smart Order Router. The role of the SOR is to successfully execute a chosen strategy, achieving more than just best price. In a highly fragmented and fast/dynamic marketplace, the Adaptive Smart Order Router is a crucial component of each execution. Its role is to successfully execute a chosen strategy, achieving more than just best price.

Role of the Smart Order Router

This tool enables you to seek liquidity – it is the last interface between your trading and the market. Having selected a strategy (which can be as granular as for a single order) triggered by a client, an algo machine or a trader, the SOR leverages multiple behaviours (Lit/Dark/Systematic Internalisers for liquid and illiquid instruments) and uses up to tens of parameters to fine-tune the execution decision- making and manage execution risk.