Business Need

As a Service Bureau Organization, the company needs to be able to route the customer orders to various other market makers for getting a timely execution. A market maker also needs to route/receive orders to/from other market makers depending on the stocks in which they make markets. (The so called "Give Up" functionality). You need a FIX/CMS compliant Order Routing and Management System that will understand that the routing rules change dynamically, market makers drop or pickup stocks (i.e. stop or start making markets) on a daily basis , you are obligated to get the execution when it is due while monitoring the quality of execution venue on a regular basis.

Avebury Logic Can Help

Avebury Logic designed, developed and implemented a Rule Based Order Routing and Management System to handle the Give Up functionality of a major market maker on NASDAQ. The OMS allowed the market maker to route orders, monitor executions and provide timely reports to its customers. Based on rules set up, the OMS directed the order flow to various market makers, Electronic Communications Networks (ECN), NASDAQ Execution Systems (SuperSOES, ACES) and other Stock Exchanges (NYSE, AMEX).

We can do the same for you!

Technical Features

• Fault Tolerant
• Distributed Unix Architecture
• FIX/CMS Compliant
• Order State Management
• Dynamic Rules Engine for routing decisions
• Stock Pickup / Stock Drop Capability
• C, Java
• Sybase RDBMS