Smart order routing
Smart order routing (SOR) is a process used in trading application to execute incoming liquidity into liquidity providers following routing rules. The routing rules usually follow business needs like best execution or internalization.
Technology
Smart order routing implementation has become a key technology for banks and brokers in the last ten years for all asset classes. Some banks developed their own smart order routers or bought existing products from technology vendors such as Millennium SOR from MillenniumIT [1] and the LiquidityOrchestrator from SmartTrade Technologies.[2]
References
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