A connection to the Best Execution Service of TOM gives banks the opportunity to provide their clients with an
efficient and reduced cost order execution, as well as access to the liquidity of all connected trading platforms and thus
giving a generous interpretation of their MiFID compliant best execution policy.
Its 'smart order router' enables TOM to send an order to the exchange or trading platform that offers the best
price at that specific moment. If identical prices are offered, the order will be sent to TOM's platform.
At this moment TOM's smart order router is connected to NYSE Euronext and its own platform. In the future TOM shall be able to provide
order matching on alternative trading platforms (such as Chi-X). The intended final result of TOM, is a Best Execution
Service that searches fast and efficiently all the traditional exchanges and alternative trading platforms to locate the
best order execution possibilities. The last few years there was a tendency across Europe towards liquidity fragmentation
to multiple (new) exchanges and trading platforms. The Best Execution Service of TOM combines this liquidity, which will
result in better spreads for investors.
