Our latest product features - Q4 & Q1, 2025

Get a glimpse of how we are innovating in our product development and shaping the future of data-driven trading.
Explore All Features

1,315

Product Improvements

253

Bugs Squashed

Feature Highlights

Send Algo Orders Through Web Trading Front End

It is now possible to send algo orders through the order ticket of the web trading front end with a pre-configured parameter profile. Depending on system configuration, you can enable your users to choose from the wide array of trading algorithms and execution strategies offered directly by Quod Financial, or even external broker algo offerings.
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Send Algo Orders Through Web Trading Front End

Manage RFQ Subscription Life Time To Prevent Leakage

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RFQ venue subscriptions now remain open for non-selected venues, reducing information leakage to the market. When an RFQ is traded, the system no longer immediately closes RFS subscriptions to other Liquidity Providers. Instead, if a Time-to-Live (TTL) was requested, the subscription remains active until TTL expiry, or, alternatively, for a randomized duration.

Manually Reorder Front End Watch List

Manual drag-and-drop reordering is now available in the Watch List panel, giving traders full control over their custom layouts. When no column-based sorting is applied, users can effortlessly rearrange rows to match their workflow, preserving manual order even after sorting resets. This enhancement makes watchlist management more intuitive and adaptable to real-time trading needs.
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Manually Reorder Front End Watch List

Display VWAP Execution Strategy Predicted Residual In Blotter

This feature enhances visibility into order execution by showing expected residual quantities when constraints prevent full completion. When a parent order is unlikely to finish due to scheduling constraints, the predicted residual—representing the difference between the initial and executed quantities—will be displayed in the FETrading blotter.

The shortfall for each slice is tracked and updated throughout execution phases, while the estimated residual is computed dynamically based on initial schedules, executed volumes, and volume constraints. The blotter now includes two new columns: ShortfallQty, shown at the child level, and EstimatedResidualQty, displayed at the parent level, ensuring traders have real-time insights into unexecuted quantities.

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Display VWAP Execution Strategy Predicted Residual In Blotter

VWAP Execution Strategy Uses Curve Prediction

Quod now enhances VWAP bin/wave sizing by leveraging AI/ML-driven volume curve predictions. The Parent Algo uses a one-day ahead volume curve forecast using AI to better align with real-time market conditions. This ensures more precise execution, improved liquidity capture, and reduced market impact.
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VWAP Execution Strategy Uses Curve Prediction

VWAP Execution Strategy Uses Linear Curve Interpolation

This feature enhances volume allocation accuracy by distributing trade volume across overlapping minute bars based on the time spent in each. The system preserves precision at the millisecond level. For each time slice spanning multiple minute bars, the volume is interpolated linearly, weighting each bar’s volume by the proportion of time spent within it. This ensures a smooth and continuous volume distribution without rounding.
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Trusted Desk Mode for Automatic Acks of Amends Between Desks

A new Trusted Desk mode now enables automatic acceptance of order amends between desks. It’s a great way to optimize this operation without the hassle of user intervention when this is a common action in your organization that is always trusted and confirmed.
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Display Eligible Crossing Quantity with Care Orders in Manual Cross Ticket of Trading Front End

This feature makes it easier to identify crossing opportunities by displaying the eligible crossing quantity directly in your manual cross ticket. Instead of manually checking care orders and calculating potential internal crosses, the system automatically shows you how much can be matched, streamlining execution. This reduces the risk of missing liquidity, speeds up trade processing, and ensures compliance with internal crossing rules—helping you maximize efficiency while staying in control.
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Display Eligible Crossing Quantity with Care Orders in Manual Cross Ticket of Trading Front End

Margin and Cash Account Enhancements

These enhancements give you greater flexibility and control over margin and cash account management. You can now configure Soft Margin Calls directly in the system admin, allowing for proactive risk management before hard margin breaches occur. Multi-cash account execution support enables trading across multiple funding sources without operational headaches.

The revamped web trading interface delivers a smoother, more intuitive experience (including UI updates from Medan’s latest feedback). Additionally, the system now allows cash loans to be factored into buying power rules, giving you more flexibility in leveraging capital. Lastly, MTM unrealized PnL improvements ensure more accurate real-time profit and loss tracking, helping you make informed decisions faster.

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Internal Matching Engine Fills ATC Orders Using External Market

Our Internal Matching Engine now facilitates the execution of ATC Market (MKT) orders by leveraging external market closing prices. These passive, non-executable orders remain active within the internal market until its close. Once the external market publishes the official closing price, the engine automatically allocates fills to corresponding internal MOC orders, ensuring seamless execution. Any unmatched orders are promptly eliminated, streamlining the process and reducing manual intervention.
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Conditional Alerts On Instrument Trading Status Changes

Stay informed with real-time alerts that notify you instantly when any instrument you actively trade changes its trading status. This feature ensures you never miss critical market updates, empowering you to make timely and informed decisions.
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Conditional Alerts On Instrument Trading Status Changes

User Customizable Front End Ribbon

Elevate your trading experience by tailoring the front end ribbon to suit your unique workflow. Now, users can dynamically adjust the layout within their workspace—creating, renaming, reordering, and even removing default and custom tabs and groups. Customize individual items and group arrangements in real time for a truly personalized interface.
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User Customizable Front End Ribbon

Get a glimpse on how we are innovating in our product development

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