Quod Financial, global provider of adaptive trading execution technology, will provide a first look at Quod Financial Adaptive Cross in a live demonstration at the 6th Annual FPL Americas Conference on Electronic Trading in New York on 4 and 5 November.
An evolutionary leap forward in trading technology, Adaptive Cross offers simultaneous access to internal and external liquidity, reducing the barriers to entry for internally crossing order flow to both tier I and tier II institutions.
Quod Financial has also released a white paper titled "The Evolution of Securities Execution", outlining the market-driven parameters for the next generation of trading execution technology and highlighting the importance of internal crossing. The whitepaper may be downloaded from the Knowledge Centre at quodfinancial.com.
Ali Pichvai, CEO of Quod Financial says: "The growing complexity of trading requirements demands a new generation of technology that can hunt down both external and internal liquidity at high volumes and speed, while controlling costs and information leakage.
"Our paper illuminates how market circumstances have created an imperative to manage algorithmic trading, smart order routing and internal matching in a fully integrated manner. Adaptive Cross coordinates those functions into a perfectly articulated machine to enhance execution and profits."
Developed as part of Quod Financial's suite of 'smarter' trading solutions that adapt in real-time to changing conditions in liquidity venues, Adaptive Cross may be used with either Adaptive Smart Order Router (ASOR) or other SOR systems.
Dhiren Rawal, US Managing Director of Quod Financial, who will be speaking at the FPL conference says: "In this dynamic era of market restructuring, internal matching is not only a matter of profits or customer service. With evolving regulatory mandates regarding transparency affecting new MTFs as well as exchanges, the full coordination of internal with external liquidity-seeking may become key to discrete block trading for buyside, as well as sellside institutions."