MAYBE NOT........

Maybe...on opportunity costs and implementing the right SOR
Most firms focus on SOR for finding liquidity at the best price and, a value add, minimizing
their opportunity costs. Spraying and pinging the market to hit as many venues as possible
leaves an order exposed to information leakage (a footprint) that can adversely affect the
price.
However, a SOR that delivers connectivity, communication and decision-making functionality
minimizes this footprint by replicating venues – through an internal market by taking in the
market data – and through its knowledge of the venues’ price/speed rules, makes decisions
with minimal information leakage.