Smart Order Routing in India
13 December 2010 Mumbai
Image: Shutterstock
Credit Suisse has announced that it has executed its first trades using Smart Order Routing (SOR) technology on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in India. This enables investors to access the best price available at a given time for stocks listed on both the BSE and NSE. Credit Suisse’s leadership with SOR in India is further evidence of how the bank’s dominant electronic trading franchise delivers benefits to its clients.
“The availability of SOR in India is an advantage for investors in this rapidly-expanding market, enabling them to achieve cost savings and a more efficient execution process,” commented Murat Atamer, Head of Product for Advanced Execution Services (AES®) for Asia Pacific at Credit Suisse.
SOR technology directs orders placed with a broker to the best price available if a security is listed on more than one market. SOR trades handled by Credit Suisse so far have resulted in a 6bp average saving compared to trading without SOR, noted Mr. Atamer. This is more than the average bid/offer spread for the names traded, he added.
“We’re very excited about this major step forward for India’s equity market,” said James Rae, Head of AES Sales for South East Asia at Credit Suisse. “There are price discrepancies at the moment because it is difficult to trade both exchanges manually, but SOR means clients can have confidence that they are achieving best execution without having to watch two markets.”
Credit Suisse’s groundbreaking SOR trades in India continue the Bank’s history of realizing benefits for its clients by developing new trading technology in Asia Pacific. In May 2009, Credit Suisse became the first broker to offer SOR in Asia Pacific with the launch of AES® Pathfinder in Japan, enabling clients to execute trades at the best price available across Japan’s traditional exchanges and Proprietary Trading Systems (PTS).
“The availability of SOR in India is an advantage for investors in this rapidly-expanding market, enabling them to achieve cost savings and a more efficient execution process,” commented Murat Atamer, Head of Product for Advanced Execution Services (AES®) for Asia Pacific at Credit Suisse.
SOR technology directs orders placed with a broker to the best price available if a security is listed on more than one market. SOR trades handled by Credit Suisse so far have resulted in a 6bp average saving compared to trading without SOR, noted Mr. Atamer. This is more than the average bid/offer spread for the names traded, he added.
“We’re very excited about this major step forward for India’s equity market,” said James Rae, Head of AES Sales for South East Asia at Credit Suisse. “There are price discrepancies at the moment because it is difficult to trade both exchanges manually, but SOR means clients can have confidence that they are achieving best execution without having to watch two markets.”
Credit Suisse’s groundbreaking SOR trades in India continue the Bank’s history of realizing benefits for its clients by developing new trading technology in Asia Pacific. In May 2009, Credit Suisse became the first broker to offer SOR in Asia Pacific with the launch of AES® Pathfinder in Japan, enabling clients to execute trades at the best price available across Japan’s traditional exchanges and Proprietary Trading Systems (PTS).
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