MarketXS TradeNet delivers a trade flow optimization solution focused on order routing for multiple asset classes. Initially covering order routing to exchanges and designated brokers for stocks, options, futures and exchange-traded funds, new execution venues and asset classes - including Over-The-Counter instruments - will be added to the system in a next phase. MarketXS TradeNet is available as feature within the MarketXSPro(tm) terminal, or as an API based on C/C++, COM, Java, SOAP/Web Services or FIX 4.x. Delivering direct access to a universe of execution venues for traders and investment managers, MarketXS TradeNet provides an independent, low-cost and fully outsourced alternative to traditional order routing solutions.

In partnership with Virgil and SmartTrade Technologies, the solution also offers order matching and the ability to create liquidity pools for OTC instruments. Before a trade is executed, traders can determine whether there is a matching opportunity between retail or wholesale orders and in-house books, thus providing an overall view of fragmented liquidity pools and routing only unmatched orders to the preferred external execution venue. This allows traders to have permanent access to the best bid and offer spreads and to trade without the need to identify the relevant pool.

MarketXS TradeNet allows buy-side institutions to fully control order flow by offering normalized and secure access to a universe of execution venues (brokers, exchanges, ECNs), combining it with real-time back-office integration and STP based on the FIX protocol. It removes the need for disparate systems by combining order entry and in-depth market data in a single interface.

Aligning, and not competing with their existing distribution channels, sell-side institutions can use MarketXS TradeNet to source buy-side order flow in a normalized format, to offer branded order entry screens to buy-side customers and to distribute their tradable data and create liquidity pools for traded instruments. TradeNet's FIX APIs can be used to connect to the Order Management System.

Supporting multiple order types, TradeNet also offers the ability to offer broker-branded order tickets, restricted data sets and broker-specific functionality in a generic interface. It includes a special sell-side feature for routing and validating order flow where no OMS is available, and allows for easy and granular control of trading entitlements. MarketXS TradeNet also provides the option of outsourcing direct exchange connectivity. No maintenance or local infrastructure is required, minimizing operational risk and Total Cost of Ownership.

MarketXS Chief Executive Officer Floris Alkemade explains: "MarketXS TradeNet provides a flexible order routing network for brokers aiming to reduce both the dependency on the existing owners of trading desktops and the costs related to building and maintaining proprietary trading applications and dedicated client connections. It will give brokers the possibility to deliver a branded order-entry terminal to their buy-side customers, within the trusted and unbiased market data environment of MarketXS and yet stay in full control of trading entitlements for each individual client, leading to a unique customer service experience."