New regulations over the past couple of years, aimed at promoting cross border competition between exchanges and investment firms while improving price discovery and investor protection, has led to significant changes across the financial landscape.
In particular, new exchanges (Regulated Markets and Multilateral Trading Facilities) have been established and SORs developed, including TOM which seized the opportunity and built its own technologies.
TOMâs SOR, TOM Smart Execution, offers retail banks and brokers true, MiFID-compliant, best execution equities as well as derivatives in the not too distant future. The client-specific algorithm searches in real-time for the best conditions on different exchanges. It then routes the order to the exchange that offers the best conditions.
As announced in August, QuantHouse has access to over 15 global data centres, 45 direct exchange connections and more than 90 total exchange data feeds enabling clients to benefit from greater accessibility and increased efficiency when trading all types of securities.
Pierre Feligioni, General Manager and Founder of QuantHouse, said:
âOne of the newer market entrants, TOM was fast to offer professional participants, including banks, brokers and market makers, access to its latest trading technologies. We are extremely pleased to have them on board on as new client and look forward to working with them going forward.â
Willem Meijer, CEO at TOM (The Order Machine), commented:
âWe were searching for a partner with an established presence in the market as well as an innovative approach to product development and a strong commitment to customer service. After a thorough evaluation process, it was clear that us, that QuantHouse was the best fit for us.â
Stephane Leroy, Head of Global Sales & Marketing of QuantHouse, concluded:
âThis deal is yet further confirmation that our Research and Development department continues to offer leadership and a constant stream of innovation. This, coupled with strong relationships in the US, Europe and Asia allows us to deliver solutions that best serve our clientsâ needs.â