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Liquidity Sources

  • 26 execution systems via our Proprietary ESharx OMS offering access to more than 82 liquidity sources;

  • Access via direct FIX links to leading market makers, all ECNs and all regional and primary listed exchanges;

  • Access to third party market centers, auction services;

  • VWAP, Time-slicing, Trade Configurator as well as auto-fills and 'expanded liquidity' services;

  • Mid-point Market-on-close and market-on-open services;

  • A savvy and knowledgeable staff with excess capacity in working orders against contra-parties via any media required including all OMS technologies, the phone and other alternative methods.

Liquidity

Liquidity is the lifeblood of any trading firm.   Beyond liquidity, there is also an understanding of the quality of the various liquidity sources.  Any source can offer liquidity, but understanding the time and place for each source can mean the difference between a quality execution and a trade which incurs negative market impact.   Different market centers offer different things. Some offer size, while others offer better prices.  Some offer expediency while others provide flexibility in the variety of orders handled.   Some liquidity sources only provide electronic connectivity, while others still require a telephone call.  

Some of the more utilized systems include dedicated FIX connectivity to the largest Nasdaq market makers as well as ECNs and Exchanges, phone based communications to all market makers and exchanges, Nasdaq-provided Selectnet, Soes, Supersoes, Supermontage, as well as approximately two dozen additional systems.

Flexibility

To properly work orders and to achieve what we believe is the highest quality executions, our firm employs several systems and processes for hunting out and meeting our best possible execution standards.  In some cases, orders are routed using smart-logic technology and at other times, a senior trader may determine that a particular system or technology might be better utilized to get a better fill.  

Quality of execution considers such things as the stock, the volatility, the action in the stock, the liquidity of the various market centers competing in the stock, as well as many other factors.

At the end of the day,  clients of Trade Manage Capital, Inc.  know that our firm has some of the best possible technology on the Street, used by some of the most experienced and talented traders on the Street, working for their orders.  Since we do not make markets or act as principals in client transactions, those resources and talents all are for the benefit of our clients.