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More liquidty

Trading via our brokers lets you take advantage of the Multi-Venue and Smart Order Routing Technology to access better prices. As well primary stock exchanges like LSE and Euronext, clients also have the opportunity to trade directly into the order books of Europe’s three leading Multilateral Trading Facilities (MTFs): Chi-X, Turquoise and BATS.

What are MTFs?

MTFs are essentially alternative platforms to stock exchanges for share trading. They often provide better prices than the primary exchanges and can account for over 40% of a stock’s overall liquidity.

What does Multi-Venue Technology mean for you?

How does it work?

The trading platform, instantly searches all available venues and puts the best price in the order book. It doesn’t separate the prices according to their venue – instead the prices appear in a ‘hybrid‘ layout.
 
When you click on one of these prices, the Smart Order Routing Technology immediately routes your order to the relevant venue. By routing your order across multiple order books it’s more likely that your order will be filled, but you will only ever be charged one commission per order. If your requested size and price is not available, your order will be routed to the primary exchange, where the greatest level of liquidity is generally available.

MTF lit books

MTFs provide visible order books in the same way that primary exchanges do so that you can see the price and size of all orders, and judge where you want to place your order. Our broker combines these MTF lit books and the primary exchange order book to display a single aggregated order book.

Dark pool liquidity

The technology also connects you to the dark pools of liquidity provided by MTFs like Chi-X’s Delta or BATS Europe’s Dark Pool. These are orders not displayed on the lit books but are available for you to trade against. Dark liquidity pools are often used by institutional investors who do not wish to reveal the price, size and origin of their orders.

This means that as well as the liquidity visible on the lit order books, trading with our broker gives you unparalleled access to the non-displayed liquidity found in the dark pools. This means you can take advantage of even greater levels of liquidity, increasing the likelihood of your orders being filled and the potential for better prices. 

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