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INET's Latest Deal

Traders Magazine, December 2003

Peter Chapman

With front-end systems like Lava and Sonic giving traders smart routing to multiple destinations, it no longer seems necessary for an ECN to offer outbound routing. Most still do though, so if an order fails to execute on the book, it gets sent elsewhere. INET has the technology (it's called SmartRouter) and believes it has found a way to keep it relevant. Now, a sellside trader using a front-end with smart routing, may instruct the system to handle a trade automatically. The system surveys the market and sends the order to the execution spot most likely to fill it. The customer typically pays about 3/10ths of a cent per share to the ECN or SuperMontage.

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