Selero Smart Order Routing and Best Execution Technology (SORBET) provides traders with a variety of execution strategies to choose from, and it allows them to use those strategies as building blocks to create adaptive, hybrid, flows. In addition, it gives traders control over configurable parameters to drive strategies and to control automated hybrid processes. Finally, it allows them to change strategies, parameters, and triggers at any time, to reflect changes in their execution priorities and changes in market conditions.

SORBET provides the following:

• Direct Market Access
• Reg NMS Routing and Intermarket Sweep Orders
• Dark Pool Access
• Active Limit Orders
• Hybrid Strategies
• Heat Maps
• Configurable Parameters
• Reporting
• Order Routing Services made available from Nunami Services LLC, member FINRA, www.nunami.net

High Performance Smart Order Routing

Selero's High Performance Smart Order Routing was developed to meet the needs of traders for whom speed of execution is critical. Specifically, the Product offers all of the functionality of Selero SORBET while also minimizing latency and maximizing throughput.

To achieve maximum speeds, Selero developed a high performance event processing engine in C++, and applied it to Smart Order Routing. Consequently, the Product is not only fast, but it is also flexible, extensible, and highly reliable.

For more information, download our SOR Data Sheet, Algorithms versus SOR White Paper, and read our Intermarket Sweep Order White Paper.

What is MiFID?

MiFID is the Market in Financial Instruments Directive, and it was created to drive down trading costs and bring transparency to the European market through increased competition and normalization of processes across the European Community. Specifically, it requires broker dealers to provide best execution for each of their customers – as the customer defines it. The Regulation went into full effect on November 1, 2007.