Settlement

InVantage Trader is an extremely flexible Order Management and Routing system. The greater importance of pre-trade transparency and best execution that is being demanded by the introduction of MiFID is forcing major changes to the business practices of a firm's dealing function, and Trader is Investmaster's response to these new initiatives, designed to ensure that firms can demonstrate increased control as well as maximizing the number of execution venues in a cost effective way.

Trader can capture orders from a variety of sources, including front office users, the Internet and call centres. It can be integrated with any front or back office system in order to meet the demands of straight through processing multiple instrument types.

Trader now connects to all of the available RSP gateways in the UK, offering an unparalleled number of counterparties for electronic trading. Quote enquiries are automatically generated and sent by the price comparator to a selection of RSPs and on receipt of various touch prices for a specific order, Trader will indicate the best price available. As well as links to the RSPs, it is now possible for dealers to place orders on the LSE's SETS order book. Trader provides the complete mechanism for interacting with SETS to cover multi-fill, limit orders and iceberg trading in a controlled manner.

Trader includes the following functionality:

Order Capture
Limit Orders
Order Status updates
Order Pooling
Bulk Dealing
Portfolio Management links
Vetting

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