London, 16 September 2021 – Kepler Cheuvreux, a leading, independent European financial services company providing services in Research, Execution, Fixed Income and Credit, Structured Solutions, Corporate Finance and Asset Management, has rolled out Quod Financial’s Adaptive Smart Order Router (ASOR) as part of their transformative plan to implement the next generation of electronic trading platforms.
The ASOR provides over 400+ configurable parameters, which are self-managed and available in real-time for execution. The decade-long and continued innovation by Quod in developing AI/ML and data automation enables Kepler to expand its ability to seek liquidity across lit, systematic internalisers and dark venues across European equities markets.
Quod’s award-winning ASOR uses event-based liquidity seeking technology, where every order is treated as a single algorithmic order that scans liquidity across venues and pools in real-time. With the capability of processing every market update and forecasting liquidity movements, the best-of-breed technology also provides a fully automated execution mechanism – using different workflows, including low-touch, direct access, algo trading and retail.
Both companies are invested in bringing into reality the next generation of automated trading and making full use of the data-driven and machine learning computing leap.
Thomas Biotteau, Deputy Global Head of Execution Services at Kepler Cheuvreux, said:“We successfully migrated all our equity flow through Quod’s SOR and are pleased with the performance of achieving a significant improvement on our aggressive hit ratio and a greater percentage of flow traded on non-displayed pools. This is just a start as we are planning new releases to continue to improve our liquidity discovery.”
Mickael Rouillere, Chief Technology Officer at Quod Financial, said:“SOR has become an essential part of any execution. It requires technical know-how and an understanding of how liquidity can be managed in a fragmented landscape. We are very happy to have been able to work with Kepler, who has demonstrated an innovative approach to the evolution of execution in Europe. We think that our collaboration will continue on the same ground-breaking path.”
About Kepler Cheuvreux
Kepler Cheuvreux is a leading independent European financial services company that specialises in Research Execution, Fixed Income and Credit, Structured Solutions, Corporate Finance, and Asset Management. The Group employs around 600 people and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna and Zurich.
Group key figures:
- 1st independent European equity broker
- EUR2bn of equities traded daily on average
- 1st Equity Research coverage in Continental Europe
- 1st Country Leaders Board (Institutional Investor 2020)
About Quod Financial
Quod Financial is a multi-asset OMS/EMS trading technology provider focused on automation and innovation – specialising in software and services such as Algorithmic Trading, Smart Order Routing (SOR), and Internalisation of Liquidity. Quod leverages the use of its data-driven architecture to support the demands of e-trading markets by combining AI/ML-enabled decision-making tools and dynamic market access with a non-disruptive approach to deployment. For more information visit: www.quodfinancial.com
+44 20 7997 7024