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Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced that its smart order execution algorithm, FAN, has been named “Best Broker-Supplied Tool/Technology,” and its Oasis smart order execution algorithm for sourcing small- and mid-cap liquidity has been named “Best Buy-Side New Product” by Waters Technology in the magazine’s 2010 Buy-Side Technology Awards.
“We see an increasing number of institutions adopting sophisticated liquidity-sourcing technology, including next-generation algorithms like FAN and Oasis,” said Joseph Wald, Managing Director at Knight. “Both are examples of execution strategies that allow buy-side firms of all sizes to participate in the markets on a level playing field using the most sophisticated technology available.”
Knight’s algorithmic suite is accessed through Knight Direct, Knight’s multi-asset class execution management system, as well as through a number of third-party execution and order management systems via Knight Direct’s FIX capabilities. The algorithms are powered by FAN, a smart order execution algorithm which sources liquidity from multiple destinations simultaneously, while adapting to market conditions in real time and re-circulating orders to where executions are occurring. Oasis uses innovative logic to source liquidity in thin and difficult-to-trade names with increased efficiency and opportunities for price improvement as well as greater fulfillment.
“Single-stock algorithms are still evolving through ever-new and better ways to access the markets, with tangible and valuable differences between the offerings. We thank our clients for recognizing what sets Knight apart and helping us to gain recognition through respected independent parties like Waters Technology, as well as for continuing to trust Knight for high quality trade executions.”
