Smart Trade Technologies has released version 5.5 of its Smart Trade Transaction Platform (STTP), which adds the firm’s LiquidityOrchestrator smart order router (SOR) to the liquidity management platform. The French trading software supplier is pitching the combined system as a solution for addressing best execution under both MiFID and Reg NMS.

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Smart Trade Technologies, a provider of liquidity management systems (LMS) automating MiFID and Reg NMS-compliant best execution, has launched an upgraded liquidity management system, smartTrade Transaction Platform (STTP) 5.5.

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Quod Financial, provider of advanced execution technology, has unveiled its solution for buy side execution management. Capitalising on the experience and technology of its existing sell side class technology and algorithms, Advanced Smart-Order Router (Quod ASOR), Quod Financial is now offering a new decision making and order routing solution for the buy side.

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Nyse Euronext says it is launching an order “routing and price improvement service” that will provide users of its Arca electronic trading platform with access to non-displayed liquidity. The new routing service will initially provide access to 29 destinations, which the exchange has not named.

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Progress Software Corporation has launched the Progress Apama Smart Order Router (SOR) Accelerator. With the Apama SOR Accelerator, traders can now create proprietary order routing strategies that intelligently select execution venues from among exchanges, MTFs and dark liquidity pools, the vendor says, helping buy and sell side firms address the best execution requirements of MiFID and RegNMS.

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Selero says the latest (2.1) version of its smart order routing product will be released at the beginning of 2008. This will provide quick access to numerous dark pools and protected markets while taking into account the different priorities of traders to complete best execution. This product will allow a wide variety of different requirements varying from high frequency trading to block trading types, Selero claims.

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OES MarketGroup has added RTS Realtime Systems Group (RTS), a Germany-based independent software vendor (ISV). Under the terms of the agreement, RTS will integrate OES’s smart order routing technology into its trading applications, enabling equity traders to ensure that orders are routed to the exchange with the best price.

OES MarketGroup has partnered with Portware to provide National Market System (NMS) connectivity and NMS-compliant routing services to financial institutions on Portware’s global, broker-neutral, multi-asset trading and strategy systems. OES will provide Portware with RegNMS-compliant trading centre connectivity for outbound router services, enabling Portware’s sell side clients to meet mandatory trading and compliance requirements of RegNMS.

Atos Euronext Market Solutions (AEMS) and Dexia Securities France have partnered to offer a MiFID solution for brokers, to be available from July this year. Comprising a smart order router and an analysis and reporting tool, the solution is designed to support brokers in complying with the best execution, transparency and reporting elements of MiFID.

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Investment Technology Group, provider of technology-based trading services and transaction research, has added options routing capabilities to its Radical execution management system (EMS) and made available broker algorithms from its Triton EMS.

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Belzberg Technologies is to provide a Best Canadian Market Gateway to its client base by the end of Q1 2007. The new service will enable Canadian customers to satisfy best market regulatory requirements at no additional cost on front end systems and FIX connections. The product will also include options for advanced algorithms and BestX international routing, from the same platform for an additional fee.

Agency broker On Point Executions has broadened its use of SDS Financial Technologies’ SDS Trader platform to include its Sting smart order routing system for options. The SDS Trader direct market access system was selected by On Point as the basis for its On Point Trader equities DMA system last year.

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Pictet, Switzerland’s largest private bank, has selected Ullink’s connectivity and order routing platform ULBridge to address its connectivity needs. According to Fabien Sawaf, IT director of Pictet, the bank chose Ullink as the company “can provide us with the complete solution we need for a service-oriented architecture that significantly improves our ability to deliver. This comprehensive platform enables us to easily manage our connectivity through a single point.”

TSX Markets plans to produce a next-generation trading engine and a smart order router system as part of an ongoing upgrade of the group’s trading systems. The Toronto Stock Exchange owner already announced TSXPress, which aims to optimize execution speeds for algorithmic traders on its current platform. Also announced this year was ATX (Alternative Trade eXecution), a new highspeed TSX trading facility, slated for release at year-end. The next-generation TSX trading engine is scheduled for delivery in 2007.

Ahlibank QSC has become the first broker in the Middle-East area to offer execution via Reuters’ Order Routing for Equities, enabling the company to improve the efficiency of its brokerage services and access a wider client base.

HSBC has embarked on a wide-ranging upgrade of its electronic securities trading systems. The big U.K. bank went live earlier this summer with the first incarnation of a broad multi-asset platform – powered by Smart Trade Technologies’ smartTrade order-routing system – within the bond trading group of its Corporate, Investment Banking & Markets (CIBM) division, and this month announced it had selected GoldenSource Corp. to supply the underlying data model for the trading system, as part of a wider enterprise data management initiative.

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Beauchamp Financial Technology’s OrderManager electronic trading module for hedge funds has been enabled and certified for out-of-the-box connection to Thomson Financial’s Thomson Order Routing network. The deal gives OrderManager users electronic access to Thomson Financial’s network of more than 250 brokers. OrderManager uses the FIX protocol to send and receive electronic messages via the Thomson AutEx Order Routing network to and from executing brokers, ECNs and other pools of liquidity. The system is fully integrated with the Beauchamp FundManager portfolio management system, allowing electronic trades to be booked automatically to the database and reflected immediately in portfolio and P&L reports. FundManager then automatically reconciles trade files with prime brokers and administrators.

Nyfix, Inc. has forged a network-to-network agreement with the Marco Polo Network. The deal establishes FIX order routing over both the Marco Polo Network and the Nyfix Network, offering both companies’ clients wider electronic access to liquidity. The Marco Polo system, with an emphasis on emerging markets, currently supports direct market access and managed order flows for global listed equities and derivatives. Nyfix’s global FIX network provides brokers and asset managers with access to a range of execution venues worldwide.

It’s been another busy month for Trading Technologies’ patent lawyers.

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Reuters has developed a connection between its Reuters Order Routing system and Beauchamp Financial Technology’s OrderManager platform, allowing hedge fund managers access to ROR’s network of more than 200 brokers. Under the arrangement, OrderManager users will be able to send FIX-based order, execution and allocation messages to executing brokers and ECNs via ROR.