Trade

CMC Capital provides customers with liquidity aggregated from several counterparties, which provides several advantages:clients always get the best prices, are protected from poor execution of orders by the counterparty, and are completely anonymous to him.

The STP type accounts have an aggregator developed by Itransition.

On accounts such as ECN, an aggregator developed by Softwire works.

client 1client 2client 3client 4...client n
Counterparty 1Counterparty 2...Counterparty n

The benefits of liquidity aggregation

Sole counterparty
Counterparty Pool
(liquidity aggregation)
Ability to select a counterparty to hedge a transaction
Not
Counterparty Price

There is no way to choose the best price. The need to execute an order at the price of a single counterparty.

No protection against non-market quotes

If a counterparty has a non-market quote (hairpin), a stop order will be activated by this quote and the client will incur additional losses.

No protection against poor performance

High probability of order execution with large slippage, delay and other attributes of poor-quality execution.

No force majeure protection

There is no way to circumvent force majeure situations: loss of communication with the counterparty, lack of a quote stream, etc.

Yes
The best prices

Prices vary by counterparty. The aggregator allows you to choose the best of the offered prices.

Protection against non-market quotes

If the counterparty has a non-market quote (hairpin), a stop order will not be activated by this quote.

Protection against poor performance

The probability of order execution with a large slippage, delay and other attributes of poor-quality execution is minimized.

Force majeure protection

In the event of any force majeure: loss of communication with the counterparty, the absence of a quote stream, etc., the orderwill be executed by another counterparty.

Customer Anonymity for End Counterparty
Not
Possible deterioration in terms of trade

The counterparty receives the orders of each client personally, and may worsen the performance on an individual basis of individual clients trading profitably.

Yes
The impossibility of worsening the terms of trade

The counterparty receives customer orders anonymously, and cannot determine which of the clients is trading profitably or unprofitable,and worsen the execution individually.

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