Leveraging fragmented markets and multi-listed instruments is paramount for best execution and liquidity. Tbricks by Itiviti helps you capitalize on this through a smart order routing app, easily incorporated into any style of trading.
Tbricks’ smart order router can be used from normal click-trading, or from any other app in the system. It works seamlessly with the Tbricks instrument model, which has true support for multi-listed instruments and aggregated order-books.
For any number of market data feeds and trading venues, the smart order router can capture the best prices and spread liquidity for best execution.
Instead of simply firing all orders at the same time, Tbricks smart order router seeks to have orders arrive at the venues simultaneously. The app has a built-in algorithm defining how to spread liquidity, and re-distribute volumes after partial fills. All this logic is also delivered with full source code, making it easy to see, modify and extend your implementation.
Tbricks was designed to enable any app to be used from within other apps (through a child – parent relationship). The power of smart order routing is already enabled in many other apps, including ladder, delta hedger and spread quoter.