Capture the maximum value for each market transaction

Routing

At its core, best execution is about maximizing the value of every move you make in the market. Price, timing, and likelihood of execution are variables that impact best execution, and you need access to institutional-grade smart order routing that delivers on best execution requirements.

StoneX Prime Direct’s smart order router provides

  • simultaneous access to several venues including lit and dark pools and crossing networks
  • an automatic search for the best price
  • an objective view of liquidity venues
  • clear validation, control, and statistics for trade performance
  • a direct path to liquidity, there is no other party between you and your trade
Global Market Connectivity
The path to best execution

StoneX Prime Direct’s smart order router (SOR) and algorithmic trading suite work together to find the best liquidity venue for your execution, considering variables like price, cost, speed, and probability of execution. Our order router seeks out the best possible routing for your order to extract as much value as possible from each trade.

Price tag
Price

Our automated order routing system seeks the best price available across multiple venues including exchanges, market makers, and internal inventories.

Coins
Cost

The smart order router considers the execution costs and seeks to minimize those costs to increase the value of the trade.

Speed
Speed

The system works to balance the speed of any given execution with the other variables to increase the probability that the trade is executed.

Hit rate
Hit rate

When considering where to execute the trade, the system evaluates different liquidity venues and determines which is most likely to result in a successful trade.

Flexible and diversified algorithmic trading options

StoneX Prime Direct’s SOR and algo suite provide the tools to complement a variety of strategies and investment objectives including:

  • Volume-weighted Average Price (VWAP)
  • Time Weighted Average Price (TWAP)
  • Percentage of Volume (POV)
  • Close
  • Ladder
Global Market Connectivity

FAQs

What is smart order routing?

A smart order routing (SOR) is an automated process of executing orders for securities engineered to take the best available opportunity through a variety of trading venues.

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What are the benefits of using a smart order router (SOR)?

A smart order routing system provides simultaneous access to multiple liquidity venues while automatically searching for the best price available.

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