Kepler Cheuvreux’s platform KCx has introduced a new smart order router (SOR) to enhance client execution and improve liquidity capture.
Chris McConville
The firm has said that the new offering, called KCx Spark, adapts to modern trading, and addresses market needs including securing best execution, reducing latency, managing impact and adapting to fast-changing conditions by efficiently routing orders across venues.
Chris McConville, Kepler Cheuvreux’s global head of execution services and trading, said: “KCx Spark is the first module launched on KCx Omni, our next-generation, event-driven execution platform integrating algo engines, OMS, EMS, TCA analytics, portfolio optimisation, and IOI workflows.”
The new SOR also leverages advanced quant models and level 3 data from historical market data and analytics provider, BMLL Technologies, with the aim of enhancing algo performance.
Kepler Cheuvreux has also said that clients will be able to use KCx’s employment of time-order delivery to mitigate latency arbitrage.
Read more – Kepler Cheuvreux’s KCx launches MENA execution access
BMLL Technologies chief executive, Paul Humphrey, said in a statement on social media: “BMLL is proud to support Kepler Cheuvrex’s KCx Spark, their new SOR with accurate and timely data powering quality execution. We obsess over the detail of the data, ensuring its quality so our clients do have to, allowing them to focus on innovation and R&D to improve performance.”
Read more – Kepler Cheuvreux launches Asia-Pacific direct market access
The new offering follows a drive in expansion for KCx in recent months. In January 2025, the division expanded its execution access to the Middle East and Northern Africa (MENA), following the announcement on new direct market access (DMA) capabilities in the Asia-Pacific markets in December.