Iress Debuts Smart Order Router

BMR is already in use for seeking dark liquidity in Australia.

Iress has announced the release of its new smart order-routing system, Best Market Router (BMR) 1.03.

Integrated with the Iress trading platform, the router provides support for all existing dark order venues, and is also compatible with the company's low-latency market data platform.

New features from previous versions include an automated bulk order transfer facility, and split volume multi-market execution.

"Smart order-routing isn't a set-and-forget strategy, and can't rely on generic implementations unable to adapt locally," says Andrew Walsh, managing director at Iress. “Iress has demonstrated the willingness and capability to optimize around local conditions and set the [smart order-routing] benchmark for regulatory compliance, configurability, liquidity sourcing and defending against predatory algorithms."


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