Smart Order Routing and Algorithms

Smart Order Routing

Market fragmentation has reshaped the financial landscape, creating new paths and obstacles for orders to follow and overcome.

Smart Order Routing (SOR) by Neonet helps reduce this complexity. It enables automatic order routing to leading exchanges and allows alternative venues to take advantage of extra liquidity, while reducing trading costs and ensuring full MiFID compliance. As reliable smart order routing is a critical trading function in today’s dynamic marketplaces, our proven offering is continuously developed to meet new requirements as they emerge, including regulatory changes.

Full access to market liquidity

Neonet’s SOR technology is at the heart of our solution for electronic execution in multiple liquidity pools. Based on specified parameters, our SOR constantly aggregates liquidity and seeks the best possible execution for each client. Orders and child orders are sent to the various venues according to pre-defined routing parameters, enabling cost reductions and compliance with the client’s Best Execution policy.

Choice of execution strategies

The client can configure order routing parameters according to designated execution strategies or present market conditions. Preferences can be set for aggressive or passive execution, or cost-saving strategies. Orders may be executed at exchanges and alternative trading venues where Neonet or the client has membership, or using a combination of both.

Execution quality analytics

Through our association with a leading research and market data analysis firm, Neonet has access to a wide range of historical and real time market data analysis solutions. This enables extensive reporting tailored to individual client needs, as well as detailed analysis of execution quality using both internal and external benchmarks. A full Transaction Cost Analysis (TCA) summary for the client orders is available, and summaries across all trading activity that pinpoint existing price improvements captured by the Neonet system, and potential optimizations.

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Last updated: July 2014 Print this page
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