The introduction of competition in South Africa has meant a fundamental shift in the way brokers approach trading for their clients. In shares that have a listing on more than one exchange it has now become imperative that they look across markets to ensure they are transacting at the best possible price for their client orders.
As most exchanges operate in micro-seconds, the use of modern technology is not only the most efficient way for brokers to achieve best execution, it is vital they use it to do so. A smart order router (SOR) or Best Market Router (BMR) , automates the process. It scans the available exchanges in real time to find the best available deal.
These are Smart Order Router/ Best Market Router systems are approved by A2X: