There’s a first time for everything.
BBS Securities is the first Canadian broker-dealer to use the smart order router (SOR) from exchange operator Aequitas’s technology division, Aequitas Innovations.
The Aequitas SOR is designed to protect tradable orders from predatory trading tactics that leverage speed and information detection. It does this by providing a multitude of routing strategies and normalizing the speed at which orders are delivered to trading venues in Canada.
“The Aequitas SOR is addressing the issue of speed advantage and asymmetrical access to information in trading within the Canadian capital markets,” said Bardya Ziaian, president & chief executive of BBS Securities. “This innovative technology is an important tool for us to achieve best execution for our clients, protecting them from predatory traders. This added-value router at a low cost also helps reduce the technology burden faced by many independent dealers and puts us on equal footing to those larger firms who invest in their own technology.”
The Aequitas SOR can be integrated with any order management or execution system and can function as an extension or backup to existing order routing solutions.
“By offering a multitude of routing strategies and synchronizing the time tradable orders hit all Canadian marketplaces, we are working to level the playing field,” said Joacim Wiklander, chief trading & data officer at Aequitas. “We believe our SOR solution is focused on meeting the trading needs of long-term investors and their dealers. We are committed to delivering transparent best execution capabilities and tools to analyze our performance.”
Aequitas Innovations is the parent company of Aequitas NEO Exchange.
NEO was launched in March 2015.