AMTS ECN Aggregator
Aggregator is a AMTS ECN module which receives liquidity from all connected counterparties, and combines it into a single stream transmitted to customers. Aggregator is a difficult part of the system, which contains a lot of complex technological solutions and innovations. Several streams can be merged into one, resulting in an aggregated stream. Such stream, however, has a number of problems:
- Providers significantly differ in terms of trade conditions which need adjusting. For example, it is not always profitable to send an order to the provider with the most narrow spreads since it can mean a very high commission.
- Also, providers differ significantly in terms of performance quality. For example, if you send to send orders to providers of poor quality, there will be a lot of rejections and huge slippage.
- The balance of a particular provider can be overloaded, which means you can no longer send orders since it may lead to exceeding the risks and an eventual stop-out.
- There are providers who do not accept small amounts. There are those who execute either small or large volumes with low efficiency.
- Orders of big customers often exceed the volumes of a single provider. Such orders must be divided into smaller parts, sent to different providers, resent in case of rejections, then gathered into a single Fill – all of it in mere milliseconds.
There are many other problems, both potential and frequent. Cooperation with liquidity providers must take into account all the pitfalls; otherwise, it may result in very serious issues and even losses.
We have written several generations of aggregators, and each new generation takes into account both positive and negative experience of the previous generation. In the "field of liquidity", there are a lot of things to watch out for, with companies either failing to notice them or finding workarounds. With years of experience developing trading technologies and working with liquidity providers, we see how obsolete is the technology that most of said providers use.
We understand that most dealings do not possess our experience and judge the technology based on external attributes or the advertising. However, we believe that the level of specialists in the brokerage companies grows yearly and that sooner or later, highly advanced technology and real quality will prevail over advertising. AMTS Solutions is not standing still. We are constantly improving the quality of our products, keeping pace with the times.
Brokers who choose AMTS are often surprised by the reasonableness of our approach and the quality of its implementation.