ACES is an order routing system that allows user to route orders between order-entry firms and market makers that have established relationships. ACES, provides the benefits of an advanced order routing tool without the start-up costs of a stand-alone system. ACES streamlines routine order entry by routing orders directly into the market makers2019 internal system for execution and routing the execution notification back to the order-entry firms.
NASDAQ Weblink ACES is designed for small order-entry firms that do not require all of the features of the NASDAQ Workstation, but still want to automate their order routing process and have a direct connection to their market makers2019 internal systems.
|Via Market Makers:||Via Order-Entry Firms:|
WebLink ACES Interface & Screenshots
Using WebLink ACES, users can route orders, scan orders or receive ACES messages in their Trade Manager window. Market makers can also now set up their routing relationships through the new Workstation.
Click on the images below to see a larger version.
Benefits and Features of WebLink ACES
- Ability for market maker to set up routing relationships online.
- Enhanced order scans.
- Execution, order release and order reject alert messages.
- Cancel and replacement of open orders.
- On-line average price calculation that combines partial and fill executions into a single price.
- Time and sales functionality.
- Cost-free service for order-entry firms as the software is generally soft-dollared by the receiving market.