Koscom selects smartTrade as its technology partner for ATS emerging in Korea
Seoul, Tokyo, New York, London, Paris & Aix en Provence, May 15th, 2013 smartTrade Technologies, a leading global liquidity management solution company, today announced that Koscom, leader of financial IT solution in Korea, has selected smartTrade's Liquidity Management System (LMS) to offer aggregation and smart order routing to their clients.
With the expected amendment of the Capital Market Consolidation Act, Alternative Trading Systems (ATS) will soon emerge in Korea, implying a better quality of liquidity available but also new technical challenges namely for smart order routing and aggregation. Koscom has been critically evaluating companies over the past year to provide the best suitable solution for the Korean market and chose smartTrade as a partner for its smart order routing solution based on the company's proven global experience in this field over many years, as well as for its understanding and respect of Korean culture.
Woo, Joo-Ha, Koscom CEO & President said "With the adoption of ATS, best execution will be key for the industry and we need a flexible, open and scalable solution which can evolve with us. smartTrade's smart order routing unique design will allow us to implement finely tuned strategies in a very short timeframe." Woo, Joo-Ha added "As the Liquidity Management System is a cross-asset platform, we'll be able to expand the technology to other asset classes such as the foreign exchange."
David Vincent, smartTrade Chief Executive Officer and CTO said "smartTrade is happy to accompany Koscom in this new adventure. The Korean market is at the dawn of exciting changes that we are ready to support thanks to our mature and adaptive technology."
In 1977, Koscom was established by the Ministry of Finance and the Korea Stock Exchange to computerize the securities markets and related industries systems. Since its foundation, Koscom, as a professional Financial IT solution firm, has led the development of the Korea securities and futures market through providing IT infrastructure. Koscom's annual revenue is about 338 billion Korean Won and it has about 770 employees.
Founded in 1999, smartTrade provides sophisticated Liquidity Management Systems, enabling security companies and banks to develop multi-asset dealing platforms that aggregate liquidity from dozens of sources to create a single order book, distribute customized pricing to clients, receive and manage client order flow, internalize liquidity and/or route it to external venues regardless of messaging protocols. The system handles multiple asset classes and is in production globally supporting equities, foreign exchange, fixed income, rates, and many other instrument types.
For more information, visit www.smart-trade.net.
Tel.: +33 442 900 397