SmartTrade Liquidity Management System.

Dark pools: Using LiquidityCrosser, traders can determine the matching criteria of the engine and with whom they want to trade with. LiquidityCrosser provides the flexibility to rank orders according to matching criteria that are configurable, so the bids ranking, the offers ranking and definition of "equality" or "match" are concepts that are not fixed - they can be both defined and even redefined. LiquidityCrosser supports multiple types of crossing, including continuous or scheduled, multiple types of orders and multiple types of execution conditions. LiquidityCrosser combines with LiquidityAggregator, delivering full flexibility in the how a firm's books are aggregated and crossed.

High frequency trading: LiquidityCrosser provides for a deeper interaction with an organization's flow to maximize internal crossing possibilities before sending orders to the market at high speeds. It is a true internal market with a highly customizable matching engine. Instead of being driven by events, it leverages flow that exists within a firm to keep best execution inside whenever possible. LiquidityCrosser is used in combination with LiquidityOrchestrator to set rules on the matching criteria, trading partners, and how the flow will be executed. It also manages and reconciles the 'child' orders to the original source order to prove best execution. In a high-frequency trading environment, this can otherwise be a very onerous task.

Peer-to-peer trading: LiquidityCrosser offers firms the ability to determine whom they want to trade with within their own organization, including retail and institutional clients. LiquidityCrosser can have multiple pools of matching and flow can be redirected to the organization if it cannot be matched peer-to-peer. The LiquidityConnect component of the STTP platform then provides for the normalized communication between the clients and the organization to eliminate the challenges of on-boarding clients.

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