Through the smartTrade LiquidityDistributor™, customers can customize and create complex matrices for their distribution of market data and prices to their various types of clients including custom spreads and limits over any messaging infrastructure. As one LiquidityDistributor™ can be plugged into another one, data can be distributed to an unlimited number of users at a low latency.

eFX LiquidityDistribution™: Working with an institution’s internal risk system, LiquidityDistributor can consume the liquidity stacks for further distribution to the institution’s clients. Prices can be sent in any size; whole, half or decimal pips and can be quoted in inverse quote conventions. Custom spreads and limits can be applied either on a group basis or an individual spread basis and can be changed on the fly. As well, the institution’s clients can be changed from one group to another group dynamically. Ladders can be distributed to the institution’s clients on a "size by price" basis including "best-average" or "worst". The institution can choose any messaging infrastructure that they want and LiquidityDistributor supports both full market data and incremental snapshots and can conflate the data to preserve system resources. An unlimited number of users are supported in LiquidityDistributor as one LiquidityDistributor can be plugged into another one.

eFX LiquidityDistribution™ – Full LMS: In addition to the eFX LiquidityDistribution™ functionality, institutions have implemented the smartTrade LiquidityCrosser for matching and the LiquidityOrchestrator for smart order routing to have a full LMS solution. The LiquidityCrosser fills the institution’s client orders (i.e. FOK) based on the liquidity in the books at low latencies. The LiquidityOrchestrator manages not only the internal routing between books; it also manages the RFQ process of routing the request to either an auto-quoting engine or for a Manual Quote. In the event of complex instruments with multiple legs, the LiquidityOrchestrator can disaggregate the different leg components and route them accordingly (manual or auto).