Smart Order Routing (SOR)
The role of the Adaptive SOR is to successfully execute a chosen strategy, using real-time data driven intelligence for achieving the best possible outcome in one or multiple markets. In a highly fragmented and fast/dynamic marketplace, the Adaptive Smart Order Router is a crucial component of each execution.
Your complete Multi-Asset SOR solution
With over 14 years of experience, Quod Financial offers the most powerful and customisable Smart Order Routing solution available in the market in Americas, Europe, Middle-East and Asia. Quod's Lit/Dark Smart Order Router uses real-time data including AI/ML analysis of markets to take microsecond based execution decisions. Our SOR can be configured using a real-time web interface that allows for highly customised strategies using 450+ parameters.
Contact us to understand how our clients have gained control of their trading and gained immediate execution performance improvements.
Features and Benefits
What you get with Quod SOR
Unrivaled Order Management Rules
Powerful Best Execution Package
Best Execution, Compliance
and Strategic Execution
Quod provides powerful Best Execution reporting to give specific details on every step of the execution decision process. This includes market conditions at the time of the event, a decision-by-decision breakdown and an attached benchmark to measure execution performance. This provides essential tools for regulatory compliance as well as crucial information to clients and traders.
To achieve optimal execution performance and profitability, it is crucial to have access to high-quality data and intelligence to continually evaluate your execution strategies. This involves conducting detailed analyses, such as reviewing venue performance and assessing trading costs (or spread capture). The same data is then reused by the algorithms in order to improve performance over time.
Product In Action
What are the Technological Capabilities of the SOR Solution
Orders are held away from the markets and can be placed or modified without revealing any strategies or patterns to individual venues. Different rounds of liquidity seeking (e.g. Aggressive phase followed by passive phase).
SOR Variables and Configurations
Data Sources and Connectivity:
With an estimated 80-plus trading venues in Europe and the US alone, fragments of liquidity are everywhere. This is where conventional order management and simplistic routing systems falter – and our Adaptive SOR makes the difference.
Advanced Order Routing Logic:
Our SOR consolidates transparent liquidity in different venues giving you a clear view of the markets. But it goes further, to seek out non-transparent liquidity residing in algorithms, such as Iceberg orders, or dark venues. The result is the ability to dynamically make new execution decisions as market conditions evolve during the lifecycle of an order.