Tag: Smart order routing

Citadel Execution Services has joined the Chicago Stock Exchange (CHX)’s order routing facility, CHXConnect.

Kookmin Bank, South Korea's leading bank and investment fund distributor, has chosen Vestima+, Clearstream's automated order routing service for the investment funds industry. This has allowed Vestima+ to break into the Korean market, one of the biggest domestic markets in Asia for mutual funds.

Fund manager Thames River Capital has gone live with the Fidessa Workstation Execution Management Service (EMS) for derivatives order routing supplied by Fidessa owners royalblue. Fidessa EMS enables Thames River to route index futures and options order flow from its London office to its preferred futures and options brokers.

Neovest, a trading technology and direct market access provider, now connects to 15 'dark pools' of liquidity, trading networks that do not publish quotes on the open market. Neovest, which is owned by JPMorgan, has recently launched an active trading tool that simultaneously disseminates orders to numerous 'dark pool' destinations, the firm says.

Microsoft will make use of data streaming technology created by Chicago-based software house Aleri as part of a package of services it is offering to firms obliged to comply with the best execution provisions of the Markets in Financial Instruments Directive (MiFID) imposed by the European Union.

Liquidnet, the electronic global marketplace for block trading, has announced that it has signed a definitive agreement to acquire Miletus Trading, the agency-only brokerage firm that provides quantitative execution strategies and analytics to institutional investors. The transaction is expected to close by the end of March, pending regulatory approval.

Euroclear has bought the UK mutual fund order routing network EMXCo. The Brussels-based ICSD, which also owns the UK CSD (CRESTCo) says that by combining mutual fund order routing with settlement services it can shave 50% off fund manager costs, primarily through the elimination of manual processing, especially in set