Quod Financial

Quod Financial
Private
Industry Software
Founded 2004
Headquarters London, United Kingdom
Area served
 Worldwide
Products Trading systems
Website www.quodfinancial.com

Quod Financial is a trading technology provider which specialises in software and services such as algorithmic trading, smart order routing and internalisation of liquidity. The firm provides electronic trading platforms to liquidity venues, exchanges, retail brokers, buy side and sell side institutions.

The company is headquartered in London with offices in Paris and New York City. It has teamed up with Catena Technologies in Singapore, to take advantage of liquidity fragmentation in the Asia Pacific.[1][2]

History

Quod Financial was formed in 2005 via the business acquisition of Reuters Mercury Online by NET2S,[3][4] which also used to be a trading technology provider. In September 2016, Quod Financial launched FX Solution for Regional Banks and Asset Managers.[5]

Application Modules

Quod Financial's application modules include smart order routing for buy side and sell side firms, modules for cross-asset and multi-asset trading, as well as online trading for retail and institutional brokers.

Adaptive Smart Order Router (ASOR)

ASOR is designed for the sell side firms and supports equity and derivative asset classes.[6]

Adaptive Cross (ACross)

ACross, a MiFID II and Dodd-Frank Ready application module, which allows brokers to take care of their crossing opportunities. It can be combined with a dynamic SOR, enabling the user to work orders externally and cross internally when crossable flow is available.

Adaptive Online Trader (AOLT)

AOLT is a multi-asset web-based trading application module. AOLT is based on Microsoft's Silverlight technology that allows continuous streaming to web pages. The AOLT is designed for retail broker.

Adaptive Execution Platform (AEP)

AEP's modules include: trading-specific algorithmic engine, order and quote management, connectivity and middleware.

Algorithmic Engine (AE)

The Algorithmic Engine is an adaptive financial event processing engine that understands the relationship between parent and child orders, different order types and market events. It supports a library of the most important and common execution algorithms such as TWAP and VWAP. It also has an open C++ API that allows users to create, customise and extend the algorithms.

Order & Quote Management (OMS)

This module is designed for sell side institutions and manages the whole life cycle of an order.

Connectivity

The AEP is set up to handle upstream and downstream data systems through native gateways using an API or through FIX connectivity and proprietary gateways. Quod Financial has its own FIX engines versions 4.2 to 5.0. The Market Data FeedHandler provides native exchange and other venue FeedHandlers,[7][8][9] as well as some of the leading market data providers.

Application Delivery Models

There are two types of delivery models for all application modules at Quod Financial.

Enterprise Model

In Enterprise model the application module is installed on client's data centre and maintained by themselves.

SaaS Model

In the software-as-a-service (SaaS) model, a hosted model, the software is installed at one of Quod Financial's proximity data centres.[10] In this model economies of scale is applied to application operations and hence users can take advantage of reduction of overal cost. In general, there are a number of advantages in using SaaS:

  • Lower integration/setup fees
  • Flexible and highly customisable environment
  • Quick and easy connectivity via FIX
  • Seamless maintenance, upgrade and support
  • Highly scalable via horizontal & vertical scaling

References

  1. ↑ http://www.securitiestechnologymonitor.com/news/-25629-1.html
  2. ↑ http://www.pr.com/press-release/239235
  3. ↑ "Reuters transfers its Mercury On Line and FIX business to NET2S". Bobsguide. Retrieved 2016-05-04.
  4. ↑ "NET2S launches integrated futures, options and equity dealing system". Finextra Research. 2005-06-15. Retrieved 2016-05-04.
  5. ↑ "Quod Financial Launches FX Solution for Regional Banks and Asset Managers | Finance Magnates". Finance Magnates | Financial and business news. 2016-09-09. Retrieved 2017-11-14.
  6. ↑ http://www.automatedtrader.net/news/smart-order-routing-news/73622/quod-financial-selects-interxion-for-smart-order-routing
  7. ↑ "Quod Financial - London Stock Exchange". www.londonstockexchange.com. Retrieved 2016-05-04.
  8. ↑ "List of Independent Software Vendors co-operating with WSE - Quod Financial" (PDF).
  9. ↑ "Quod Financial Connects To NYSE Arca Europe And Smartpool - Wall Street & Technology". Wall Street & Technology. Retrieved 2016-05-04.
  10. ↑ http://www.thetradenews.com/operations-technology/5998
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