Omega Smart Order Router

Smart Order Routing

Omega Securities Inc.’s (OSI) fast, free smart order router (SOR) is designed to remove liquidity at the Canadian Best Bid or Offer (CBBO) or better, in a sequential order among all participating venues trading TSX, TSX-V and CNSX symbols. The supported venues are Omega, Lynx, TSX, Venture, TMX Select, Alpha, Chi-X, CX2, Pure and CNSX.

SOR Website

 

SOR maintains outgoing FIX sessions to the above venues. Eligible orders sent to Omega’s SOR will be routed sequentially to the applicable marketplaces in a preset sequence and will interact with all visible and hidden liquidity.

Price Adjustment

Once an order is submitted into the SOR, it checks the CBBO of the far side (e.g. ask side for bid order). If the order price is inferior to the CBBO, the order cannot be executed immediately and remove liquidity. In this case, the order will be cancelled or posted to Omega ATS or Lynx ATS. Eligible orders for routing will be sent to the other venues as IOC orders. Orders with remaining shares after routed can either be posted to Omega ATS, Lynx ATS or cancelled.

Why Omega’s SOR
  •  It’s FREE!
  • Orders are kept ‘intact’ to prevent over fills or under fills.
  • Interacts with hidden, dark or semi-lit liquidity including mid-point and iceberg orders on supported venues.
  • Cycles through the routing table fast!
  • Customizable!

 

For more information on the SOR, please contact operations@omegaats.com

Boxes Bg