Thomson Reuters has enhanced its execution management system on its financial flagship desktop product, giving REDI users access to the Rules-Based Order Routing (RBOR). The new multi-asset, global-based feature gives traders the resilience to automate workflows in a customizable and cost-efficient way.
The RBOR is an order routing process in which an order is routed to various execution facilities based on fixed, predetermined rules for how to handle it. It was designed to help traders benefit from cross-asset trading opportunities as well as accessing new markets and new algo trading strategies.
This functionality also lets users define the parameters to automatically route orders to their desired destinations, via their preferred routes.
The information vendor further explained that RBOR gives users the chance to determine which trades should be handled automatically or through manual intervention.
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The new solution achieves that “based on a trader’s pre-determined preferences,” given the RBOR ability to automatically route orders to “a broker, or multiple brokers and/or algos, for execution, and a trader can monitor automated trades in real-time for quality assurance,” Thomson Reuters says.
Seeking to capitalize on its acquisition of the REDI buy-side EMS platform, RBOR was already ruled out for clients that stage orders via FIX. Furthermore, it will soon be available for orders routed via the Autex Trade Route service, which provides users with access to broader liquidity via some of the world’s largest banks and brokers.
Thomson Reuters REDI offers multi-asset trading functionality, workflow and compliance tools and analytics via a desktop application, cloud, or API.
According to Michael Chin, co-head of Trading at Thomson Reuters: “With Rules-Based Order Routing, users have enhanced control over their electronic trading needs, with end-to-end visibility and support for regulatory compliance. This solution furthers Thomson Reuters portfolio of global, multi-asset trading capabilities that help empower financial professionals to trade smarter, faster, and with confidence.”