In today’s fragmented and fast-moving markets, sourcing liquidity and achieving best execution is more challenging than ever. Horizon’s Smart Order Router is built to solve this—with high performance, deep customization, and real-time transparency at its core.
Our SOR targets sub-100µs decision time, ensuring your orders react faster than the market. Built on Aeron, it delivers high throughput, real-time monitoring, and unmatched resilience.
Stay ahead of global regulatory mandates including MiFID II and Reg NMS, with full traceability, decision stamping, and integration with TCA providers.
The SOR is designed to achieve the best possible price across a wide range of venues—while producing auditable proof for internal and regulatory validation.
No black boxes here. Traders get complete visibility into routing decisions, child orders, venue selection, and key execution metrics like hit ratios and slippage.
The SOR is natively embedded in the Horizon OEMS and Horizon Extend, allowing traders to launch SOR strategies directly from the order screen, customize execution templates, combine with VWAP, TWAP, or custom algos and monitor performance in real time...
Access more than 120 venues—from lit markets and dark pools to periodic auctions, SIs... The router dynamically adjusts to liquidity availability, venue type, and your firm’s execution policies.
Different clients, different strategies. Horizon’s SOR supports venue preferences, Smart Stages to control routing steps, custom routing policies per trader or client segment, a user-friendly interface and in-memory Compiled Order Execution Policies.
Capture and log every SOR decision with: market snapshots, execution logic and routing path, full audit trails for compliance and internal review, real-time exception handling and third-party TCA integration.
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