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smartTrade Transaction Platform (STTP) Technology |
Product Information LiquidityAggregator, one of the four pillars of the smartTrade STTP platform, can run as a standalone application or be used in coordination with LiquidityCrosser, LiquidityOrchestrator and LiquidityConnect as a complete Liquidity Management System (LMS) to create an infinite combination of aggregation, crossing and smart order routing matrices that enables the execution process to be closely ingrained with the flow rather than reactionary to events. A key pillar, LiquidityAggregator can aggregate liquidity from various external and internal sources within a single "order book." It is fully cross-asset to support various combinations of currencies, order types and price tiering. Rules can be set for how the aggregation is to behave, i.e., Level I, Level II, structured books etc. It also enables firms to interact with their flow so that an infinite combination of crossing, smart order routing and best execution combinations can be set up via rules specifically defined by each organization – especially important for firms that want to own their flow and have full control of the execution process. LiquidityAggregator takes liquidity materialized by streaming quotes, live resting orders and indicative prices and can be requested as well via RFQs and RFS. The representation of the aggregated order book is not the same for each node connected to the platform and parameters can be set to present a different aggregation to different end points. The aggregation parameters that can be set include:
LiquidityAggregator is based on WYSIWYT ("What You See Is What You Trade") and can be used as the basis for the creation of a dark pool, a pool for block trading or to separate trading functionalities. As well, organizations can offer out to their clients the ability to enable their clients to choose how they want their specific order handled (visible or dark) as an enhanced service. For more information or to schedule a product demo in the US, please click here.
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