- Date:
- May 11, 2022
- Tags:
- Connect
Smart Order Routing (SOR)
With crypto trading liquidity fragmented across hundreds of exchanges, institutional traders need more than one exchange to execute large orders without slippage. Apifiny’s Smart Order Routing (SOR) achieves best price execution with global liquidity sourced from 20+ leading crypto exchanges via API (FIX, Websocket, or Restful) or via Apifiny’s website.
Central Limit Order Book (CLOB)
Traders access Apifiny’s Consolidated Limit Order Book (CLOB) which includes real-time orders from connected exchanges.
Smart Order Routing (SOR) — Order Execution
SOR automatically determines the optimal execution path across network exchanges. The SOR provides updates on orders filled, orders routed, and orders remaining and provides post-trade order analysis with detail by exchange.
Apifiny SOR Roadmap
| Version | Description | Timing |
|---|---|---|
| V1.5 |
Routing based on the consolidated limit order book (CLOB) |
Launched |
| V1.5 |
GUI launch — Featuring the consolidated order book, open orders, and order history |
Launched |
| V1.5.1 |
Open API — Clients can filter exchanges by choice |
Launched |
| V1.5.2 |
Algorithm optimization — Higher precision in splitting orders by fields such as stepSize and tickSize |
Launched |
| V1.5.3 |
GUI enhancement — Clients can filter exchanges by choice |
LAUNCHED |
| V1.5.4 |
Algorithm optimization — More efficient balance management |
LAUNCHED |
| V1.6 |
Algorithm optimization — Simple post strategy to pre-send orders to non-marketable exchange |
Q1 2023 |
| V1.6 |
GUI enhancement — Fund allocation widget that automatically fills transfers when clients distribute funds from Apifiny to target exchanges |
Q1 2023 |
| V1.7 |
Client can customize and group exchanges for routing, such as top 5 or US only exchanges |
Q1 2023 |
| V1.8 |
Routing algo optimization — factor in trading fee rates across the exchange network |
TBD |
| V1.9 |
Routing algo optimization — Advanced post strategy for orders based on market data analysis |
TBD |
| V2.0 |
Full exchange network routing with only 1 account |
TBD |
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