By evolving from a speed arms race to an intelligence arms race, alternative trading systems can provide exactly what the market needs: maximum unique liquidity at the lowest cost.
For those who seek unique liquidity from alternative trading venues, including institutional investors, electronic retail brokers, block trading desks and active retail traders, trading at CODA Markets puts control back in the hands of liquidity seekers, regardless of speed, technology or size limitations.
Markets should allow buyers and sellers to achieve exactly what they each want at a moment in time – the best price for their order.
For those who provide liquidity as a service to equity markets, including traditional market makers, proprietary trading desks and algorithmic trading firms, CODA Markets’ on-demand auction process and its quote response mechanism provide a secure environment to operate. Liquidity providers are the bidders in each CODA order-driven auction and retain complete control over how and when they respond to each auction.