London – Global information company Reuters (LSE: RTR, NASDAQ: RTRSY) today announced the achievement of a global roll out of a single equities and equities derivatives transaction network. The network, Reuters Order Routing for Equities (RORE), supports a global equity trading community of over 750 institutions routing to 200 brokers and execution venues worldwide.
RORE was developed in response to the need for fast and secure trading with a solution that can face the challenges of fragmenting liquidity and order flow, regulatory change and efficient automation.
RORE provides a managed service, via a single connection to Reuters, thereby reducing complexity in the trading process and reducing client communication and infrastructure cost. Either via a Reuters supplied execution management application embedded within Reuters premium products, or from certified order management vendors, orders and executions are routed via a fully managed service around the globe. Over 50% of the traffic is routed outside North America, with the fastest growing region being the Pacific Rim. The global volume executed over the network has doubled this year.
The Reuters solution reduces telecommunication, market data, software, and hardware costs to the trading community through offering the buy side community access to advanced algorithmic tools, direct market access and smart order routing.
Jeffrey Woodruff, Managing Director of Institutional Equities at Reuters comments: "Brokerage firms, banks, prime brokers, custodians are all looking to reduce their cost of trading with their counterparties. One money manager, for example, may have 150 trading counterparties, and with RORE they can reduce their execution costs. But cost savings is not the only advantage, Reuters is one of the few service providers offering complete neutrality as a key tenet of our value proposition across the globe. "
RORE takes Reuters from its leading position as an information provider to being a conduit for order flow, focussing on increasing traffic to the sell side and deploying their advanced trading systems to simplify the trading process on the buy side.
Jeffrey Woodruff adds: "We have just added seven new broker specific, algorithmic trading screens to the execution management application, known as Institutional Order Entry. This brings the total to ten, and we have more firms in the pipeline. This new functionality will enable the user to electronically direct order flow to all of their broker dealers from one application imbedded within their Reuters market data terminal without sacrificing any of the advanced trading strategies they are accustomed to."