REAL-TIME ROUTING SYTEM AND ASSOCIATED METHODOLOGY FOR ADAPTING ORDER FLOW FOR ENHANCED EXECUTION PERFORMANCE

摘要

Systems and methods for real-time routing and retail order now adaptation to enhance execution performance can be configured to receive an order from a customer including a product identifier, order characteristics, and pricing information; identify a set of appropriate market venues based on the product identifier and/or order characteristics; determine expected behavior of the market venues based on historical data for executed orders and real-time order statistics; select, based upon expected behavior, a first market venue; and route the order, in real-time, to the first market venue for fulfillment.

主权项

1. A system comprising:
processing circuitry executing upon at least one computing device; and a non-transitory computer readable medium, coupled to the processing circuitry, storing machine-executable instructions operable when executed on the processing circuitry to cause the processing circuitry to:
receive, via a network from a first customer computing system of a plurality of customer computing systems, an order comprising a product identifier, one or more order characteristics, and pricing information;access historical data for executed orders fulfilled by the plurality of market venues over a prior period of time, wherein the historical data is relevant to at least one of the one or more order characteristics;determine a set of real-time order statistics for a plurality of executed orders fulfilled by at least a portion of the plurality of market venues over a recent period of time, wherein each executed order of the plurality of executed orders is relevant to at least one of the one or more order characteristics;apply the historical data and the real-time order statistics to determine an expected behavior of each market venue of the plurality of market venues;select the first market venue based at least in part upon the respective expected behavior of the first market venue; androute, in real-time, the order to the first market venue for fulfillment.