The Order Machine (TOM) has connected its smart order routing technology to pan-European equities exchange BATS Chi-X Europe.
TOM Smart Execution aims to compare equity prices across Europe for retail clients, enabling them to get the best price across a range of exchanges.
It says the addition of BATS Chi-X Europe’s prices provides a significant boost to its comparison capabilities. BATS is currently the largest pan-European exchange by volume.
The smart order router is aimed at retail clients, but the addition of BATS pricing should also bring more liquidity to other exchange users.
Willem Meijer, CEO of TOM, said: “Connecting our smart order router to BATS Chi-X Europe promotes competition between exchanges and will therefore have a positive effect on retail investors.”
TOM already offered smart order routing to Euronext exchanges and its own multilateral trading facility, TOM MTF. It hopes to add connectivity to more exchanges in the future.