The Sonic institutional trading platform can be integrated with existing buy- and sell-side order management programs, and through the company’s FIX API, clients can integrate front-end technology with Sonic’s backend.
According to the firm, Sonic’s offering is the only system to combine, in a single platform:
– basket trading
– smart order routing
– built-in risk management tools
– Web-based trade data reporting
– a FIX API connection
– trade desk support
In addition, the platform offers:
– index arbitrage and pairs trading
– ‘point and click’ execution
– order management
– average buy and sell price calculations
– order status
– ECN outbound routing
– multiple account trade allocation
– VWAP calculations
Users also have the ability to place reserve, hidden, pegged, discretionary, immediate/cancel, and limit orders.
Sonic offers a direct connection to a variety of liquidity sources, including 11 ECNs, NYFIX, SuperDOT (to the NYSE), Nasdaq SuperSoes and Selectnet systems. The platform allows clients to simultaneously view activity from multiple ECNs and market makers.