Reuters Order Routing for Equities
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`TRADING TECH EXHIBIT 2205
`TD Ameritrade v. Trading Technologies
`CBM2014-00133
`
`

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`Reuters Order Routing for Equities
`
`Reuters offers a user-friendly trading solution
`that quickly and seamlessly links Reuters
`growing global community of institutions,
`broker-dealers and execution venues
`via an open and neutral order routing hub.
`
`Both buy-side institutions and broker-dealers can access a wide
`range of institutional and program trading desks worldwide via
`Reuters order routing capabilities, including advanced trading
`functionality from execution venues and algorithmic trading tools
`from the world’s top brokers. Using the service is easy, either
`through Reuters Institutional Order Entry front-end integrated
`within Reuters premium desktop products or via a single FIX
`connection – utilising the same network customers use to access
`Reuters information products.
`For executing broker-dealers, a single FIX connection to the
`Reuters Order Routing network provides the reach necessary to
`attract maximum order flow from buy-side and sell-side users of
`Reuters premium desktop products and leading order
`management systems worldwide.
`
`Reuters Order Routing for buy-side institutions –
`access a broker-neutral community
`Reuters Institutional Order Entry front-end integrated within Reuters
`premium desktop products enables electronic order routing to
`almost 200 brokers worldwide, including the proprietary algorithmic
`trading engines of the leading global brokers – all from one
`application. It also provides buy-side institutions with a
`consolidated interface combining real-time market data and
`indications of interest with trading functionality.
`Generating orders is highly intuitive, whether clicking through from
`market data or indications of interest, simply entering manually or
`managing baskets. User preferences can be set for default brokers,
`accounts and pricing, including automatic entry of the ask price for
`buy orders and bid price for sell orders. Program trades can also be
`created by importing baskets, e.g. from portfolio systems, in a
`variety of formats and released in waves for efficient trading.
`Orders status and execution values are available dynamically in
`real-time, including partials, average prices and report details.
`Executed orders can also be grouped for aggregate viewing by
`symbol, side, broker or account.
`
`Reuters Institutional Order
`Entry in Reuters Station.*
`*also available in Reuters
`3000 Xtra
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`Reuters open architecture allows orders and execution reports to
`be exchanged with third party or in-house systems on demand via
`file import/export or in real-time via a simple automation interface.
`It is also possible to reach broker-dealers and execution venues via
`a single FIX session, eliminating the need to manage multiple
`point-to-point connections. Reuters Order Routing for Equities
`supports connections with a number of popular buy-side trading
`systems, using FIX or the Institutional Order Entry automation
`interface, including:
`- Advent Moxy
`- Charles River
`- Eze Castle
`- Instinet’s Newport
`- Latent Zero
`- Linedata/Longview
`
`Reuters Order Routing for Broker-dealers – attract
`maximum order flow
`Reuters Order Routing for Equities enables you to receive orders
`from over 500 firms using Reuters premium desktop products and
`leading order management systems worldwide.
`A single FIX session eliminates the need to manage multiple point-
`to-point connections. Outsourcing connectivity to the Reuters
`Order Routing network allows you to focus on achieving the
`benefits of electronic trading with your customers, processing
`higher volumes at lower error rates without increasing overhead.
`Reuters Order Routing for Equities supports FIX connections with
`a number of popular sell-side trading systems, including:
`- Bloomberg
`- BRASS
`- Fidessa
`- Jefflink
`- NYFIX
`- Tradeware
`
`List orders in
`Reuters
`Institutional
`Order Entry.
`
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`Reuters Order Routing for Equities
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`Kick-start straight-through processing with
`electronic trading
`Reuters Order Routing for Equities is part of an integrated and
`growing range of front-office electronic trading products that
`enable straight-through processing (STP). By starting the process
`with an electronic audit trail and eliminating manual re-keying,
`processes become more effective and efficient, enabling firms
`to process higher volumes at lower error rates without
`increasing overheads.
`Reuters products and services support decision analysis, price
`discovery, order routing and execution at a wide range of venues.
`Integration with Reuters Order Routing for Equities is possible via
`both the industry-standard FIX protocol and through a simple but
`effective automation interface to the Institutional Order Entry
`front-end application.
`
`Reuters has a global team of project managers helping clients
`connect quickly and successfully via FIX. Each manager follows a
`proven process from definition, information gathering and gap
`analysis to implementation and testing – providing an invaluable
`source of FIX expertise to clients.
`Reuters offers a full outsourcing alternative for your trading needs –
`including full support and training from our 24 hour support desks.
`For more information about Reuters Order Routing for Equities,
`contact your Reuters account manager.
`Reuters customers can view a full broker list at the Reuters
`Customer Zone at www.reuters.com/customers
`
`Institutions &
`Broker-dealers
`
`Reuters
`3000 Xtra/
`Reuters
`Station
`
`Reuters
`Institutional
`Order
`Entry
`
`Buy-side
`OMS
`
`Buy-side
`OMS
`
`FIX
`
`FIX
`
`Reuters
`Order
`Routing
`for Equities
`
`Broker-dealers
`
`Sell-side
`OMS
`
`Sell-side
`OMS
`
`Sell-side
`OMS
`
`Sell-side
`OMS
`
`FIX
`
`FIX
`
`FIX
`
`FIX
`
`© Reuters 2004.All rights reserved.
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