Omega ATS has rolled out smart order routing (SOR) based on OSC sanctioned TSX/TSXV CBBO, Finextra reports. Omega will now be able to offer SOR at no additional cost to users and send orders to each marketplace even when a quote is not displayed on the CBBO.
It will further allow all orders placed through Omega ATS to participate in both dark and lit liquidity markets to deliver price improvements where possible. Through the new router, orders will be sent sequentially to each marketplace and kept intact, ensuring maximum share limits of orders are not exceeded. It will reduce the probability of additional ticketing costs for the participant.
Click here for the story from Finextra.