Progress Software has released its Progress Apama Smart Order Router (SOR) Accelerator to help traders quickly and effectively create and deploy smart order routing strategies.

The SOR Accelerator is built on Progress’ complex event processing platform with a set of selectable integration adaptors, as well as configurable order routing logic and trade monitoring dashboards.

“Rather than the classic algorithmic trading view of slicing and dicing orders into a single market to minimize impact, this looks at markets horizontally,” says Chris Martins, product-marketing manager for Progress Apama. “It gives traders access to a number of markets and provides visibility into those markets to deliver best execution across venues.”

He adds that the SOR Accelerator is built on three core components: the adaptors which allow seamless connectivity to different liquidity venues, visibility through the dashboards and market data offerings, and routing logic that will execute the trading strategy created.

“This provides an alternative to commoditized trading capabilities with the flexibility to incorporate the users own unique trading strategy,” says Martins. “It expedites the delivery of those trading strategies and incorporates the response to market dynamics.”

The SOR Accelerator allows traders to create proprietary order routing and select various execution venues including exchanges, multi-lateral trading facilities (MTFs) and dark pools.

“On the regulatory front, you have to commit to providing best execution and because of the market today that no longer means you’re likely to find the best price or liquidity in a single venue, so access to multiple trading venues and the ability to provide market data around them is the foundation of the SOR Accelerator,” Martins adds.

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