Solving the Smart Routing Dilemma
DWT: What do you see as the current limits to smart order routing?
Sébastien Wilk, GL Trade:
In European equity markets, the limits are at present defined primarily by the fact that liquidity is not yet very fragmented. Chi-X is the only firm that has established international alternative trading system (ATS), and most ATSes are accepting only day orders, therefore allowing themselves to access only part of the liquidity. These are early days, and brokerage firms are tending to proceed cautiouslyOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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