SmartTrade Technologies, a leading global liquidity management solution company, today announced that Koscom, leader of financial IT solution in Korea, has selected smartTrade's Liquidity Management System (LMS) to offer aggregation and smart order routing to their clients.
With the expected amendment of the Capital Market Consolidation Act, Alternative Trading Systems (ATS) will soon emerge in Korea, implying a better quality of liquidity available but also new technical challenges namely for smart order routing and aggregation. Koscom has been critically evaluating companies over the past year to provide the best suitable solution for the Korean market and chose smartTrade as a partner for its smart order routing solution based on the company's proven global experience in this field over many years, as well as for its understanding and respect of Korean culture.
Woo, Joo Ha, Koscom CEO and President said "With the adoption of ATS, best execution will be key for the industry and we need a flexible, open and scalable solution which can evolve with us. smartTrade's smart order routing unique design will allow us to implement finely tuned strategies in a very short timeframe." Woo, Joo Ha added "As the Liquidity Management System is a cross-asset platform, we'll be able to expand the technology to other asset classes such as the foreign exchange."
David Vincent, smartTrade Chief Executive Officer and CTO said "smartTrade is happy to accompany Koscom in this new adventure. The Korean market is at the dawn of exciting changes that we are ready to support thanks to our mature and adaptive technology."