TraderTools signs for Smart Trade liquidity management system
Smart Trade Technologies, a leader in liquidity management systems automating MiFID- and Reg NMS-compliant best execution for banks, broker-dealers, ECNs and large hedge funds across asset classes, announced today that it licensed its STTP 5.5 liquidity management platform to TraderTools LLC (TraderTools), a provider of business solutions, software and services to financial institutions trading FX.
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The TraderTools Liquidity Management Platform (LMP) is the only system to integrate the four disciplines of electronic FX trading: pricing, dealing, order management and execution. While alternative solutions exist in each area, TraderTools combines the four using its Dynamic Liquidity Manager, which monitors and controls inward and outward liquidity flows and makes pricing and execution decisions in real time.
Smart Trade's STTP 5.5 liquidity management system will be used for liquidity aggregation within the dealing module and smart order routing within the execution module of the TraderTools LMP.
"The TraderTools Liquidity Management Platform allows FX dealers to take liquidity how and when they want it," remarked Yaacov Heidingsfeld, COO at TraderTools. "When we began evaluating vendors to help evolve our solution into a complete liquidity management platform, it became clear to us that Smart Trade offers the best available liquidity aggregation and smart order routing systems."
"The Smart Trade STTP system solution is an excellent complement to the TraderTools platform," said Harry Gozlan, CEO at Smart Trade. "Moving beyond our initial announcement in 2007 when both firms began to deliver access to multiple liquidity providers through a single FIX gateway, we look forward to working closely with TraderTools and appreciate their continuing endorsement of our liquidity management technology."
The STTP 5.5 platform includes four modular components. LiquidityOrchestrator intercepts incoming orders and according to predefined rules and market conditions (it has access to the depth of the external venues, the order book, fees tables, instrument preference lists and ranking of preferred venues), generates a derived set of trading instructions. Completing the suite are LiquidityConnect, a highly configurable, trading-connectivity platform; LiquidityAggregator, which combines liquidity from external and internal sources; and LiquidityCrosser, a fast, scalablalable matching engine.