Trading technology provider has pre-loaded its Adaptive Smart Order Router (ASOR) with its library of trading algorithms, which the firm says are designed to deliver better execution and lower market impact.
A range of algorithm classes are now integrated into the router, including statistical-based algorithms, which incorporate historical analysis and real time statistics indicating where liquidity resides and the quality of each venue; probabilistic-based algorithms, which use various methods to seek out hidden liquidity; and mathematical optimisation methods, which address large and complex decisions, especially for highly-fragmented markets.
“The days of separate infrastructure for scheduling and execution of orders are gone. By combining trading and liquidity-seeking algorithms, ASOR hunts lit and dark liquidity to maximise fill rate and makes real-time decisions to reduce market impact,” said Ali Pichvai, CEO of Quod Financial, in a statement. “By integrating Quod Financial’s library of algorithms with its smart order routing capabilities, our clients will be able to clearly see the market impact of each order, as well as measure the success of grabbing liquidity in real-time. This, in turn, allows traders to respond in real-time to dynamic changes in liquidity conditions for highly efficient liquidity management.”?
ASOR, developed as part of Quod Financial’s trading solutions suite, can be used in conjunction with the firm’s Adaptive Cross internal crossing tool to offer simultaneous access to internal and external liquidity.