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Older and Smarter

Traders Magazine, May 2007

Michael Scotti, Editorial Director

It wasn't that long ago that the concept of smart order routing was a foreign one to traders. Only some eight years ago most traders were just getting used to trading on multiple ECNs, doing their best to execute in a fragmented market. Enter the ECN aggregator. Life suddenly became much easier. Traders no longer needed to access each ECN directly because technology, using smart order routing, could do it for them. Systems like Lava and RealTick ended the era of the ECN jockey-may he rest in peace.

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