Smart Order Routing
Responding to the requirements of MiFID in Europe and Reg NMS in the US, trading institutions (both buy- and sell-side) need tools to deliver best execution in increasingly fragmented Equities markets. With the Progress Apama Smart Order Router (SOR) Accelerator, firms now have the technology to deploy proprietary strategies that algorithmically select liquidity from amongst the Exchanges, Multi-Lateral Trading Facilities (MTFs) and dark liquidity pools to which Apama can be connected.
Built upon the market-leading Apama Algorithmic Trading Platform and leveraging Apama's sophisticated Complex Event Processing (CEP) capabilities, the Apama SOR Accelerator includes integration adapters, configurable order routing logic, and trade monitoring dashboards that accelerate the deployment of unique smart order routing applications. With the SOR Accelerator, firms can now use Apama's rich development tools (accessible to both traders and IT) to create unique, aggregated views of market liquidity, capitalizing with real-time order routing decisions. Banks can use Apama to create their own unique approach to "best execution", thereby addressing the increased diversity and the distinct characteristics (and transaction costs) of the various liquidity venues. With Apama, they have the tools to keep pace with fast-changing markets, creating truly differentiated offerings.
