ITS Hybrid Smart Order Router

ITS SOR Standard Features

  • Dynamic Routing capability—each order can specify its profile
  • Support for all routing destinations within Canada including dark markets
  • Hybrid Routing Model—providing the best of serial and spray methodologies
  • Extremely high performance
  • Takes out multiple exchanges at the same price level simultaneously thereby preventing market interference
  • Interacts with hidden liquidity
  • Functions well with enhanced order types
  • Routing profile based can be based on User ID, order types, symbol, order attributes & duration
  • Support for SMART routing during extended hours
  • Trade-Through prevention applied to all smart crosses
  • Full order audit trace
  • Post-only functionality

 
New in 2012

 

Gen 3 DMA
ITS upgraded to our 3rd Generation DMA Convert Engine in late 2011 and it is currently in production trial on a limited basis with very positive feedback. Gen 3 has decreased the DMA processing latency by more than 50%. This upgrade will be applied to ALL of our DMA Convert Engines through Q1/Q2 of 2012.

 

Risk Management—Fat Finger and Limit Check
ITS has embedded the first phase of its patent pending riskmanagement algorithm into its DMA and SOR Engines providing “fatfinger checking” of orders based on a broker’s pre-defined risk parameters. This feature is in final testing with a beta customer and should be available by the end of April, 2012.

 

Additional Marketplaces
In 2011, ITS added routing capability to both TMX Select and SIGMA X Canada. Customers can now route to 11 Canadian marketplaces using the ITS SOR.

 

 

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