Execution Brokers

Expand your market

Expand your addressable market by onboarding execution-only clients with a much lower upfront minimum viable revenue requirement

Free up resources

Convert existing low-turnover high-touch accounts to low-touch, freeing up resources to focus on higher-value accounts

Accelerate execution solutions

Accelerate adoption of your execution solutions - from high-touch to DMA to algos

Level up

Level the playing field against brokers who offer delegated reporting - without offering delegated reporting

Grow your addressable market

The market for execution dollars is highly competitive, with a huge question mark over the potential for market share gain. The big investment managers have huge pricing power, leaving little by way of execution margins.

The mid-market is largely saturated, and while the market for small funds is vibrant, their problem is exactly that - they're small. Logically, the right way to tackle these prospects is to sign them up for low-touch electronic execution: no allocation of headcount for sales and trading coverage means the account is pure upside, right?

Unfortunately, incumbent service providers in the trading software and solutions space that charge exorbitant prices for FIX connectivity on long-dated contracts create an insurmountable wedge, resulting in a catch-22 situation: the client doesn't pay enough to cover the cost of their connectivity, and there's no way to "take a chance" on a new client with a 12-24 month connection contract with a minimum order quantity.

In most cases, new clients that seem "promising" are put on high-touch trading cover for zero marginal cost with little/no sales coverage - leading to a substandard offering to clients, low revenues and a negative vicious circle.

We provide connectivity between Prometheus and your existing OMS and FIX hub on a one month rolling contract at a fixed price, with no minimum order quantity. This allows you to bring on new clients anytime, and take them off if things don't work out. How can you be so flexible, you ask? We simply inherit the flexibility from our cloud-based FIX deployment - and hand that flexibility over to you.

The result: a lower minimum viable revenue requirement on new clients, and an expanded revenue opportunity.

Optimise your best resources

Moving low-turnover/low-commission paying clients to low-touch execution not only makes direct sense from an account P&L standpoint. It also helps free up internal trading and salestrading resources to focus on the accounts that deserve concentrated client coverage and dedicated execution expertise.

By setting clients up for access to both low- and high-touch execution, with instructions for the latter also electronically transmitted, you offer clients the flexibility and choice of choosing how they want their trades executed - at the appropriate commission rate, rather than being forced to provide a one-size-fits-all solution that is sub-optimal for your firm, your team and your clients.

If clients are willing to pay a high-touch commission, they get a high-touch service; if they just need a simple low-touch execution via algo, that's what they get and pay for. The idea that a client is bucketed into one or another in a mutually exclusive manner is a false dichotomy.

Accelerate adoption of electronic execution solutions

Nothing trains an algorithm better than real life data, and there is no better data than live client orders being executed on the market. As the competition between brokerage firms for commission wallet share on the street moves into the electronic, algorithmic and program trading space, the differences in execution quality between firms becomes ever clearer to the naked eye, and the firm with the better algo (lower slippage, better fills vs the market etc) wins more flow.

More flow translates to better training data, translating to better algo trading, culminating in a virtuous circle of dominance.

Prometheus offers you a channel to get your firm's algo/program trading offering in front of your clients: right in front of their eyes, in the palm of their hand, occupying mindshare at the point of them thinking about putting a trade on.

Our cross-platform compatibility means clients can access your full algo/PT/DMA suite wherever they are: from Windows to Mac to iOS to Android to Web, on their phones, at the beach, during the school run, at the airport - wherever there's an internet connection, you'll be in place to pick up a potential trade.

Delegated reporting - without delegated reporting

Regulatory burdens are on the rise for clients, with an increasing incidence of fines being issued for late trade reporting under EMIR and MiFIR.

Delegated reporting is a client's dream, but very few brokers are willing to take on that burden for their clients - the exceptions being some retail brokers that have made a foray into the institutional space.

For most other brokers, offering a delegated service is nice, until the workload starts piling up and is no longer worth the hard-earned but otherwise relatively small revenue for most clients.

The integration of Prometheus EMS and its accompanying reporting suite Artemis allows for the automatic generation of MiFIR trade reports to RTS 22 standard directly from FIX messages. The client will need to undertake an initial set up, but beyond that we are able to automate not only the generation of the report but also the automatic submission of the report to an Authorised Reporting Mechanism (ARM), in this case, primarily LSEG UnaVista.

By integrating Prometheus into your client offering, you effectively offer your Prime clients a reporting solution that requires the same effort on their end as a delegated reporting service: nearly zero, other than dealing with exceptions.

In both cases, the client is ultimately responsible for their reporting. But with Artemis, it feels the same to the client, without the burden on you. That, we believe, is a material competitive edge.

Reporting summary