South Korean Fragmentation Pushes Koscom to Turn to SmartTrade for Smart Order Routing
With the expected amendment of the Capital Market Consolidation Act, Alternative Trading Systems (ATS) will soon emerge in South Korea, implying a better quality of liquidity available, but also new technical challenges for smart order routing and aggregation.
"With the adoption of ATS, best execution will be key for the industry and we need a flexible, open and scalable solution which can evolve with us," says Koscom CEO and president Woo Joo-Ha. "SmartTrade's smart order routing unique design will allow us to implement finely tuned strategies in a very short timeframe."
SmartTrade is confident that its LMS will be able to quickly adapt to the new South Korean market structure, functioning properly despite the lack of established protocols.
"Indeed, the smartTrade LMS is highly flexible in terms of protocol transformation, separating the routing business logic and infrastructure from the routing protocols," says David Vincent, SmartTrade's CEO and CTO. "That way, Koscom will be able to easily adapt to potential new standards emerging in South Korea and plug their solution to the emerging ATS in very short time frames."
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