CODA Flare gives users access to liquidity wherever it resides, in or out of the CODA marketplace.  User specifications and advanced analytics can route unfilled parts of orders for best execution nationally.

Key Features and Benefits of CODA FLARE


Using CODA FLARE, traders can avail themselves of our patented auction technology as well as state-of-art routing capabilities to get their orders executed with just the right emphasis on price-improvement and execution-certainty.


Advanced data analytics from our ALISA research team can help traders optimize routing performance.

Parallel Routing

Parallel routing allows orders to be sliced up for simultaneous access to any and all major liquidity destinations in the United States.

Parallel Posting

Parallel posting allows parent orders greater than 100 shares to be represented as smaller child orders at multiple market centers.  As child orders are filled at one venue, CODA FLARE automatically rebalances open child orders across other venues.