FastTrade

VX guarantees best execution

Virtual Exchange guarantees best execution in terms of price, quantity, commission, speed etc in complex multi market scenarios with direct and indirect access.

Virtual Exchange automatically lists the financial instruments that are simultaneously present on more than one exchange that users can access, both direct and indirect, electronic and OTC. Data published by various IPs can be added to the single list, but also the information managed by one or more brokers, and the internal prices relating to own portfolio of securities that one wishes to internalize. This consolidated data is thus presented to the user in a single Super Best where the best quotes of every bond and instrument are reported both in terms of price and best quantity, and also taking into account trading commissions and other priority criteria predefined by the financial institute.

Virtual Exchange thus allows users to see immediately where the best conditions are on a particular security at a particular moment. It also allows them to operate directly and extremely rapidly with small investments and in a uniform way on all the markets, whether interconnected or not. In fact the Super Best thus created enables the order to be sent directly to the relevant e-market, and/or to the internal market simply by double clicking on a line. With Virtual Exchange traders can focus on defining cross-market best execution strategies, without getting lost in a myriad of screens and different displays. It makes it extremely easy to meet any obligations of pre and post trade transparency set by MiFID directives.

Since Virtual Exchange is based on FastTrack® technology, it is open, flexible and scalable. It is thus possible to implement added value services on Virtual Exchange either by adding other modules of the FastTrade suite to the platform, or by developing applications ad hoc via the FT-Api.

Internal negotiation circuits

Institutes wishing to exploit the opportunities offered by the new European MiFiD directive and begin systematic internalization can use FastTrade®, and in particular Virtual Exchange, which supports the creation of internal markets.

FastTrade® guarantees the Best Execution (in terms of price, quantity, commission, speed etc) in complex cross market scenarios, with direct and indirect acccess. Combined, these two features offer the best opportunities for business both to the Internalizator and to the clients.

The internal negotiation circuits based on Virtual Exchange can support both the information exchange and internal trading of a financial institute (between the head office and branches, among companies within the group, and/or between the trading room and other areas, such as auditing and sales). They can also be used as information circuits on prices between an institution and clients. In other words, Virtual Exchange allows all financial intermediaries, and particularly systematic internalizers, to create internal baskets to supply to the sales people, to the branches, or directly to the clients. Once the set of financial instruments to publish has been defined, the internalizer can decide whether to match the orders internally rather than sending them to external markets for execution. The choice between external and internal execution is facilitated by the ability of Virtual Exchange to create Super Best that can be used for information purposes, and for trading.