IRESS

IRESS’s IOS+ product offers electronic trading for execution to the global community. IOS+ is a configurable multi-market/ multi-broker order management solution, offering operator functionality, consolidated multi-market trading, FIX services, order and transaction histories, single stock or basket trading and integrated execution and analysis.

Connectivity

IRESS supports all FIX protocol versions up to and including 4.4. IRESS also offers a number of automated execution algorithms:

Spray: Sends multiple orders across all exchanges, through multiple price levels, with immediate execution and the routing of any remaining volume to market ensuring priority.

Sway: Sends orders to multiple markets simultaneously at the top price level, updating pricing as fills are returned and re-executing if required.

Sweep: Sequentially sends an order to each market to execute at the best price, attempting to fill as much of the order as possible from the preferred exchange (including icebergs) before continuing to the next chosen market.

Market data

IRESS is a market data vendor, and provides a range of integrated market data in its OMS/EMS solutions.

Routing and trading venues

IOS+ automated crossing engine and supports directing order flow to any number of alternative execution venues, such as dark liquidity pools and external strategy engines. The IOS+ Best Market Router (BMR) provides a flexible framework for smart order routing strategies which facilitate optimised order execution across multiple venues with minimal time to market and best execution.

BMR consolidates, price and quote information across venues, provides best execution trading algorithms, and supports automated crossings.

Future updates

IRESS is expanding its ultra-low latency, high bandwidth, fully managed network. The company already has data centres in Hong Kong, Singapore, Canada, South Africa, Australia and New Zealand.