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4th Story launches matching engine for liquidity-challenged markets

4th Story launches matching engine for liquidity-challenged markets


4th Story has completed the general release of its customisable matching engine, 4S. Arches.

Fully FIX compliant, the engine is particularly suited for specialised products where generating and concentrating liquidity is a challenge such as OTC fixed income, derivatives, niche commodity and small cap equities markets.
 
It allows highly customisable order types and matching algorithms to suit the needs of a particular trading community. Orders with parameters that only become active in certain market conditions are easily implemented, for example, as is automated switching between matching algorithms.
 
The system was designed to accommodate complex trading rules from the get go,” said Steve Smith, 4th Story’s CEO. “We wanted to leave the exchange operators and traders free to implement the kinds of rules that they thought would work for their markets, and not be limited by the traditional one-dimensional algorithms and order types. They can even customise the matching engine code themselves if they want to.”

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