QUOD EXTENDS SELL-SIDE SMART-ORDER ROUTER TO BUY-SIDE USERS

Posted March 25, 2008

LONDON – Advanced execution technology provider Quod Financial has made its sell side-oriented Advanced Smart-Order Router (ASOR) available to buy-side users for execution management.

The buy-side ASOR accommodates a comprehensive multi-asset execution strategy. “This is the next step in the evolution of the European capital markets,” says Ali Pichvai, Chief Executive Officer and co-founder of Quod Financial. “Having successfully gained momentum in the post-MiFID sell-side advanced smart order routing space, we have been invited by leading buy-side institutions to re-utilize our technology to meet a number of challenges; implementing their complex execution strategies, proactively measuring the quality and performance of their brokers and their algorithms, as well as addressing liquidity fragmentation.”

Quod ASOR is a combination of algorithms and trading-specific complex event processing (CEP) technology, built on a low-latency, high-performance infrastructure. The router can adjust the execution pattern for an order based on a client’s best execution criteria. Quod ASOR is part of the Quod Advanced Execution platform.