Source: Quod Financial
Quod Financial, global provider of adaptive trading execution technologies for the buy-and sell-side, has extended direct connectivity to Nyse Euronext's multilateral trading facility (MTF), Nyse Arca Europe, and SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J .P. Morgan and BNP Paribas.
The integration enables Quod Financial's sell-side clients to route orders directly from Quod Financial's Adaptive Execution Platfom (AEP) to take advantage of price improvement opportunities in the venues. Quod Financial supports the complete suite of Nyse Arca Europe and SmartPool trading tools, with access integrated into Quod Financial's Adaptive Smart Order Router.
Ali Pichvai, CEO, Quod Financial, comments: "This latest connectivity demonstrates Quod Financial's ability to access lit and dark liquidity and to adapt in real-time to changing conditions in liquidity venues. Our Adaptive Smart Order Router (ASOR) and algorithmic trading technology intuitively uses real-time market data and post-trade data to identify the most efficient execution venues. This enables our clients to find the trading destination that offers best execution on European securities and to overcome the challenges of fragmentation. With this focus in mind Quod Financial have integrated NYSE's complete offering of lit and dark venues into our liquidity seeking algorithm."
Lee Hodgkinson CEO, SmartPool adds: "Our linkage with Quod Financial further evolves our strategy to attract the largest and most diverse dark pool trading community in Europe. With an average price improvement of 5bps, we offer a compelling dark value proposition for Quod Financial customers."
Virginie Saade Head of Nyse Arca Europe adds: "Via its ultra-low latency Universal Trading Platform, NYSE Arca Europe provides fast, easy and low-cost trading access across an extensive list of European stocks providing new and efficient trading opportunities for Quod Financial's clients."