...

• Our product normalises market data and orders between your internal platform and venues in a 3-20 microsecond range. 
• We provide smart order routing (SOR), aggregation, order management system (OMS), trading interfaces, data analytics, internal order books for 'resting off market', price improvement and much more.
• We can seamlessly turn on/off access to any of our connected venues.
• New venues and connections are added by request by emailing [email protected].
• Every client gets a dedicated deployment.
• We store all market data and maintain the infrastructure.

If you are a prospective customer, please contact [email protected] for more information. 

Normalization

...

Normalization

The default Whisperer behaviour should be to act as a normalised API only, although for historic reasons Whisperer currently does provide additional features.

Future requests for enhancements that require business logic within Whisperer will, most likely, be rejected - because of the implicit loglong-term costs that would otherwise exist:

• MF Customers and Venues cannot reliably review issues without MF involvement.
• MF Customers cannot be in full control of their pricing/trading strategies.
• MF needs to involve every other affected existing Customer in every business logic change to ensure that there are no adverse/unintended consequences.
• The work is usually highly tailored - business logic details are usually unique to a specific Customer 
  
  

To this end, MF is working towards a medium-long term goal where all Whisperer business logic will:

• Be deployed in self-contained MF components, separated from the core Whisperer product
• Require an explicit, active, safe opt-in from the client, rather than the current opt-out - requiring prior knowledge, discussion etc.

Whisperer Classic API Normalisation

• Unified approach to different book structures
• Provide MF metafields for client configuration and flow mgt - User, Model iD
• Standardise client quote/order IDs across all venues

Business Logic

• API Server - Order handling (Cum/LeavesQty tallying done internally (TBC I don't regard this as business logic by above definition), OrderCancelRejects handled internally, not passed to venues, also limits monitoring etc)Price Improvement - Trade on in-flight quotes not yet received by taker.

Exceptions

There are obviously many aspects of the trading work flow that cannot be normalised. These are typically venue-specific behaviours or features, such as:

...