June 23, 2016
The evolution of smart order routers
Share:

What we’ll cover

We’ll discuss how smart order routers have evolved over three generations since their first appearance in 2007, and why we can expect to see the birth of the fourth generation in 2016.

MiFID II will lead to yet another leap in requirements, both in terms of performance and functionality. The next generation SORs will have to cope with a major shift in market complexity.

The Double Volume Caps introduced with MiFID II are likely to shift liquidity to venues with alternative trading models such as continuous/periodic auctions (such as BATS) and Large in Scale (LIS) venues (such as Turquoise Block Discovery). Some of these new models are already in operation, if yet on a limited scale. As always, new market models rely on networks effects, meaning that they must get a critical mass of users in order to be successful. It is likely that MiFID II will be the catalyst that makes them take flight.

Related Content

Itiviti one year on

Itiviti one year on

Video In February 2016, Itiviti was born out of the merger between market leaders Orc, Tbricks and CameronTec. One year on, Lee Griggs – President EMEA at Itiviti – explains how far the company has come and the positive reaction seen from the market in response to Itiviti’s expanded offering for the sell-side. March 27, 2017

Introducing Itiviti Managed FIX

Introducing Itiviti Managed FIX

Video FIX is the way the world trades, but FIX solutions come at a high cost. The answer to this dilemma? Itiviti Managed FIX: a transparent, robust, enterprise-enabled solution that will lower your cost of ownership while keeping you in control over your connectivity. Itiviti Managed FIX: the way the world connects. March 23, 2017

FIX connectivity delivered as a service

FIX connectivity delivered as a service

Video George Rosenberger, SVP Managed Services at Itiviti, talks to The TRADE about trends in FIX as-a-service. March 21, 2017