CASE STUDY:
Pay for what you use, not for what you don’t.
A sell-side firm that managed its connectivity to key market centers wrestled with how to reach the centers where it sent less flow. It needed a solution without the expense and administrative headaches associated with managing telco connections. OES’s service bureau provided the ideal solution — cost-effective, fast and affordable connections.
MARKETAXIS SMART ROUTING
The MarketAxis smart router uses sophisticated logic to instantly route market and limit orders — in compliance with Reg NMS — to the exchange, ECN or market center with the best “top of book” price. MarketAxis liquidity destinations exceed Reg NMS requirements by integrating proprietary depth-of-book data from exchanges and ECNs, enabling more advanced routing and also seamlessly incorporating anonymous proprietary access to dark pools through OES Dark Gate.
Command and control
MarketAxis features a configurable control panel that lets you customize your routing hierarchy to optimize market-center pricing schemes, add optional route and routing rules, and establish self-help tolerance parameters.
Best execution and compliance
Be compliant, be competitive. OES makes it possible. You and your clients can go beyond the obligations of the Reg NMS Protection Rule to achieve best execution. Take advantage of:
- Fast routing with the MarketAxis smart order router
- Send simultaneous ISOs to multiple market centers and probe for both displayed and hidden liquidity to complete large orders fast
- Customize routing hierarchies and trading rules
- System controls and self-help automation
- OES-sponsored access and connectivity to displayed, reserve and dark pools of liquidity
- New order types
- Order recall audit-trail storage and retrieval of your order details via secure Web access
- Turnkey and customized Reg NMS compliance solutions
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