Quod Financial released Advanced Smart-Order Router (ASOR), a solution for buy-side execution management. The new solution utilizes the technology and algorithms offered in Quod's sell-side solution to bring new levels of decision making and routing capabilities to the buy side, the London-based vendor claims. Quod ASOR allows the buy side to choose execution brokers based on quality and performance analysis; decide on the type and qualities of broker-based algorithms; and build smart order routing functionality to exchanges, multilateral trading facilities and dark pools of liquidity, according to Quod.
"Having successfully gained momentum in the post-MiFID, sell-side advanced smart order routing space, we have been invited by leading buy-side institutions to reutilize our technology to meet a number of challenges -- implementing their complex execution strategies, proactively measuring the quality and performance of their brokers and their algorithms, as well as addressing liquidity fragmentation,"said Ali Pichvai, CEO of Quod Financial, in a release. <<<