Selero to Demonstrate Reg NMS Inter-market Sweep Orders at STAC
Securities Traders Association of Chicago Mid-Winter Conference
CHICAGO, Jan. 24 // -- Selero, Inc. a leading provider of order routing networks, trade execution systems, and integration technology for the securities industry, will demonstrate its Regulation NMS (Reg NMS) compliant Inter-market Sweep Order (ISO) routing at the Securities Traders Association of Chicago Mid-Winter Conference this week (June 25-57).
While liquidity drives profit for exchanges, ECNs, ATSs, and dark pools, Reg NMS is adding new complexity to the liquidity game. In particular, market centers are proliferating, and all of them -- old and new -- want to attract and retain as much liquidity as possible. Toward that end, the approach of sweeping and crossing is expected to become popular, because it would allow a matching entity to send orders sized to match or "sweep" the quotes protected by the Regulation (called an inter-market sweep) in order to cross customer orders internally.
ISO routing is Reg NMS routing with added smarts and flexibility, and Selero's demo is designed to present both a trader's view and an operational view of a parallel ISO process. In addition, Selero has the ability to execute a wide array of ISO flows thanks to its flexible rules, fast connectivity, and application-on-demand capabilities (for incorporation of third party applications like algos and event stream processors), and flexibility is critical in the world of ISOs given there are multiple processes offering theoretical advantages that can only become known once the Regulation is in effect.
"Today, market centers are making educated guesses about which sweep processes will deliver the execution quality they seek, and Selero has the flexibility to accommodate their needs," said Fred Horn, CEO of Selero. "Even more important, though, is having the ability to refine those processes quickly, based on actual experience, and that's where Selero stands out among Reg NMS solution providers."
For additional information on the technical requirements for ISO-capable Reg NMS solutions see the Guest Commentary written by Selero in the January 22 edition of Securities Industry News, or go www.selero.com/ISO.asp
About Selero, Inc.
Selero provides high-speed execution across the equities trading supply chain, spanning asset managers, broker dealers, exchanges, ECNs, ATSs, dark pools, and regulators. The Company's offerings range from connectivity, integration, and hosted order routing to highly automated trade execution, liquidity management, and operations solutions. In addition, its application-on-demand capabilities make it easy to extend its own offerings with proprietary and third party applications such as algo engines. Selero's solutions are designed to be fast to implement, fast to operate, and fast to change in response to real-time market dynamics, while also delivering best execution. To learn more about the Company visit www.selero.com
Source: Selero, Inc.
CONTACT: Diana Lawrence of Selero, Inc., +1-303-914-2803, dlawrence@selero.com
Web site: www.selero.com/ISO.asp
Web site: www.selero.com/
