written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . april 2014 learn how and when to remove this template message quod financial type private industry software founded 2004 headquarters london united kingdom area served worldwide products trading systems website www.quodfinancial.com quod financial is a trading technology provider which specialises in software and services such as algorithmic trading smart order routing and internalisation of liquidity . the firm provides electronic trading platforms to liquidity venues exchanges retail brokers buy side and sell side institutions . the company is headquartered in london with offices in paris and new york city . it has teamed up with catena technologies in singapore to take advantage of liquidity fragmentation in the asia pacific . 1 2 contents 1 history 2 application modules 2.1 adaptive smart order router asor 2.2 adaptive cross across 2.3 adaptive online trader aolt 3 adaptive execution platform aep 3.1 algorithmic engine ae 3.2 order & quote management oms 3.3 connectivity 3.4 middleware 4 application delivery models 4.1 enterprise model 4.2 saas model 5 references history edit quod financial was formed in 2005 via the business acquisition of reuters mercury online by net2s 3 4 which also used to be a trading technology provider . application modules edit quod financial s application modules include smart order routing for buy side and sell side firms modules for cross asset and multi asset trading as well as online trading for retail and institutional brokers . adaptive smart order router asor edit asor is designed for the sell side firms and supports equity and derivative asset classes . 5 adaptive cross across edit across a mifid ii and dodd frank ready application module which allows brokers to take care of their crossing opportunities . it can be combined with a dynamic sor enabling the user to work orders externally and cross internally when crossable flow is available . adaptive online trader aolt edit aolt is a multi asset web based trading application module . aolt is based on microsoft s silverlight technology that allows continuous streaming to web pages . the aolt is designed for retail broker . adaptive execution platform aep edit aep s modules include trading specific algorithmic engine order and quote management connectivity and middleware . algorithmic engine ae edit the algorithmic engine is an adaptive financial event processing engine that understands the relationship between parent and child orders different order types and market events . it supports a library of the most important and common execution algorithms such as twap and vwap . it also has an open c api that allows users to create customise and extend the algorithms . order & quote management oms edit this module is designed for sell side institutions and manages the whole life cycle of an order . connectivity edit the aep is set up to handle upstream and downstream data systems through native gateways using an api or through fix connectivity and proprietary gateways . quod financial has its own fix engines versions 4.2 to 5.0 . the market data feedhandler provides native exchange and other venue feedhandlers 6 7 8 as well as some of the leading market data providers . middleware edit application delivery models edit there are two types of delivery models for all application modules at quod financial . enterprise model edit in enterprise model the application module is installed on client s data centre and maintained by themselves . saas model edit in the software as a service saas model a hosted model the software is installed at one of quod financial s proximity data centres . 9 in this model economies of scale is applied to application operations and hence users can take advantage of reduction of overal cost . in general there are a number of advantages in using saas lower integration setup fees flexible and highly customisable environment quick and easy connectivity via fix seamless maintenance upgrade and support highly scalable via horizontal & vertical scaling references edit http www.securitiestechnologymonitor.com news 25629 1.html http www.pr.com press release 239235 reuters transfers its mercury on line and fix business to net2s . bobsguide . retrieved 2016 05 04 . net2s launches integrated futures options and equity dealing system . finextra research . 2005 06 15 . retrieved 2016 05 04 . http www.automatedtrader.net news smart order routing news 73622 quod financial selects interxion for smart order routing quod financial london stock exchange . www.londonstockexchange.com . retrieved 2016 05 04 . list of independent software vendors co operating with wse quod financial pdf . quod financial connects to nyse arca europe and smartpool wall street & technology . wall street & technology . retrieved 2016 05 04 . http www.thetradenews.com operations technology 5998 retrieved from https en.wikipedia.org w index.php title quod financial & oldid 737969905 categories financial softwareelectronic trading systemscompanies established in 2004software companies of the united kingdomhidden categories articles with a promotional tone from april 2014all articles with a promotional tone navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 6 september 2016 at 04 11 . text is available under the creative 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