ICBI-IRR : The 13th Annual NeMa 2013 - Network Management Conference
from 2013-06-19 to 2013-06-20read more
AFME : 6th Annual European Post-Trade Conference 2013
from 2013-05-23 to 2013-05-23read more
Market Force : The future of Clearing & Settlement 2013
from 2013-03-12 to 2013-03-12read more
ISS Mag 2nd Annual Post-trade Technology Summit
from 2012-11-29 to 2012-11-29read more
" For our ‘multi-local’ model and to satisfy our desire for European development, we needed greater consistency between our highly independent branch offices. To complement the national expertise and roots of these local companies, we wanted a common language to enable management and coordination of all our middle office tools. SLIB represents this language for us, bringing together and ensuring cooperation between the differences that we feel are so important to our company culture."
Francis Canard, Managing Director of Kepler Capital Markets
For a broker, the implementation of Best Execution for its retail customers often implies a complicated and costly project, due to the complexity of the required connections to the various venues and clearing houses and the necessary development of a SORS* adapted to the needs of these investors.
A real alternative is to allow the routing of the retail orders to the PartnerEx service of Equiduct where the exchange will calculate the best execution price and the affiliated market-makers commit to provide execution to their customers within the framework of a Regulated Market.
The benefit for the broker and its customers consists in a consistent execution at the best available price along with a better likelihood of execution.
SLIB now provides this opportunity to its broker customers for their retail clientele. Indeed, SLIB added the additional routing towards Equiduct-PartnerEx in its multi-market order management system SLIB OMS.
The process of routing is fully automated thanks to a two-fold analysis involving both the execution policy adapted to each customer and the characteristics of the order. If the ordering customer is eligible and if the characteristics of the order allow it, the order is automatically routed towards Equiduct.
The multi-market eligibility matrix of SLIB OMS allows the broker to set up parameters in a fine decision grid suited to its policy and to the choices of its customers: amount, type of validity, order type, quotation group, ..., numerous characteristics of the order are available as decision criteria. Comprehensive dashboards allow the operators to supervise, inquire and easily find details with full justification for each routing decision taken by SLIB OMS for every order.
Depending on the liquidity available and some market criteria, the order is totally or partially executed on Equiduct and, if not eligible for an execution on Equiduct, recycled towards another market such as the Home Market.
SLIB also adapted all components of its post-trade software suite: SLIB Confirmation, SLIB Posting, the clearing solutions to provide full STP for these orders.
Philippe Cognet, CEO of SLIB, concludes "SLIB OMS processes incoming and outgoing orders in FIX format and subsequently enriches its capacity of routing orders to new markets such as Equiduct. The multi-markets architecture of SLIB OMS makes it easy to plug-in additional market connectors, according to the needs and requests of SLIB's customers, offering them an easier access to new liquidity pools".
* Smart Order Routing System