Traderpath For Brokering

traderpath for brokering is a MiFID compliant solution for multi-market, multi-asset OMS, EMS, SOR. It is an integral part of traderpath, the service-based suite for professional trading, which delivers:

  • broker-to-dealer interconnection via FIX standard protocol using fixpath
  • pre-trade and trading phases through traderpath OEMS (Order and Execution Management System) in conjunction with traderpath SOR strategies
  • systematic internalization of orders using the exchangepath matching engine (please see related page).

By means of traderpath a buy-side firm trading desk can use traderpath OMS to submit orders to a broker via fixpath, which converts requests (and related responses) into the FIX protocol format. At the opposite end a sell-side firm (broker) receives buy side orders via FIX messages, handled by fixpath, and feeds them into traderpath EMS so that they can be managed and/or automatically sent to the market. Execution reports of requested operations are notified to the buy-side firm via the same FIX channel.

traderpath OEMS allows quickly and efficiently handling and execution of orders and synthetic orders, such as: care orders, basket orders, stop-loss orders, etc. or via customized trading strategies created in algorithmicpath (i.e. TWAP, VWAP, Arrival Price, POV, OCO, etc.).

A dealer's orders can be submitted to the traderpath OEMS

  • via fixpath
  • via traderpath API
  • via traderpath GUI through VPN for institutional clients or through HTTPS for retail clients

and they can be quickly routed towards external target markets or internally handled by sales desks, either manually via care orders or via predefined algorithms.

Both manual and automated handling can partially or totally cross orders in an internal market for systematic internalization, possibly implemented via exchangepath, and send any remainder to external markets.

TRADERPATH OEMS FEATURES

  • Internal dissemination of prices from many different markets and data vendors
  • Manual and automated execution management
  • Dynamic configurable operational limits per firm, group of users, single user
  • Mark-to-market position keeping per portfolio, market and instrument
  • Internal pricing and position keeping systems
  • Integration with third-party pricing engines and position keeping systems
  • Smart Order Routing across trading venues with different behaviors
  • Fast and easy building, execution and control of proprietary trading models using high-level rule based (events-actions) language
  • Resilient architecture to deliver fault tolerance and load balancing
  • Internet/intranet/extranet deployment

fixpath is the complete solution for buy-side dealer to sell-side broker interconnection via FIX standard protocol.

fixpath enables brokers to receive orders from institutional and retail customers, then forward them to other brokers and trading venuesvia FIX connection or native API.

fixpath is designed to build a high-level brokerage business allowing for multiple exchange accesses and large volumes, with transparency and compliance adherence.

FIXPATH FEATURES

  • Fully scalable, high-performance environment
  • Support for all available FIX standards
  • Concurrent access to multiple execution venues
  • Highly configurable with easy-to-use custom tags
  • Support for buy-side and sell-side operations
  • Integration with internal and external trading, OMS and EMS platforms
  • Support for a wide variety of institutional client orders