Connect liquidity.
Control execution.
ST Trader gives Forex, CFD and multi-asset brokers a configurable execution layer for external liquidity, internal execution, dealer workflows and market-data control.
Instead of relying on a fixed execution model, the broker can combine liquidity connections, quote-source policies and routing rules inside one trading infrastructure — and adapt that logic as its client base, instruments and risk model evolve.
Liquidity & market data
Quote Policy
Execution Routing
Dealing & execution
Connect external liquidity through gateways
ST Trader uses a gateway architecture to connect the trading server with liquidity providers, aggregators and external trading platforms. A gateway can participate in execution and, when supported by the adapter, publish market data into the quote pipeline. This keeps external connectivity separate from the core trading engine, making it easier to introduce new counterparties, maintain different liquidity relationships and configure execution without rebuilding the brokerage stack around a single provider.
Connect ST Trader to a liquidity and execution environment built around Centroid.
Use PrimeXM infrastructure as part of the broker's external liquidity stack.
Connect an MT5 environment as an external execution or infrastructure destination.
Integrate liquidity providers, prime-of-prime firms or other counterparties through FIX-based connectivity.
One platform for A-book, B-book and hybrid execution
Instead of hard-coding a single execution model, brokers can define rules that determine which flow is externalized, which remains internal and which requires dealer logic before reaching its final destination. Routing can be applied selectively by symbol, account group, trading login, operation type or volume range, allowing different parts of the same brokerage to follow different execution paths within one server environment.
External execution
Selected flow can be directed through a configured gateway toward an external liquidity counterparty.
Internal execution
Selected trades can continue through ST Trader's internal execution path rather than being sent externally.
Rule-based flow
Different symbols, groups, logins and order sizes can follow different ordered execution chains.
Route selected trades to a dealer team
Manual Dealer steps allow human review to become part of an execution route. Dealer Pools group authorized dealers so requests can be handled by a team rather than tied to one individual. This is useful when a broker wants to keep most order flow automated while reserving human intervention for selected clients, instruments, order sizes or exceptional market situations.
Automate dealing decisions inside the route
The Virtual Dealer evaluates routed operations against configured checks and can automatically continue, reject or pass the request to the next execution step. It acts as an automated decision layer inside the route, so repetitive execution checks can be handled consistently without requiring a dealer to review every eligible request manually.
Automate which market-data source is trusted
Execution routing determines where an order goes. Quote Policy determines which provider is allowed to update a symbol's live price — with configurable priority, failover and price-quality controls. This separation is important because the best source for market data does not always have to be the same destination used for execution. Brokers can therefore manage pricing resilience and execution logic as two coordinated but independent layers.
Separate pricing from execution — coordinate both
A broker does not have to use the same provider for pricing and execution. ST Trader lets the market-data layer, routing layer and dealing layer operate independently while remaining part of one brokerage infrastructure. A preferred quote source can supply market prices while selected trades are sent through another gateway, handled internally or passed through dealer logic according to the broker's own execution policy.
Gateways → Quote Policy → Routing → Manual / Virtual Dealer → Internal or external execution
A routing model can be different for every flow
A single symbol can be handled differently depending on who is trading, how large the request is and which operational checks need to occur before execution. For example, standard retail flow may remain internal, professional accounts may be routed externally, larger requests may first pass through automated checks, and selected accounts may require dealer review before the final execution step.
Internal
EURUSD flow for a standard account group can terminate in internal execution.
Gateway
Selected flow can be externalized through the configured liquidity connection.
Virtual Dealer
Run volume, spread and deviation checks before continuing to the next route step.
Manual Dealer
Route a particular login through dealer review before gateway or internal fallback.
Example logic is illustrative. The exact route, provider and thresholds are configured by the broker according to its execution and risk model.
Questions brokers ask about liquidity
ST Trader is designed to make liquidity, pricing and execution policy configurable rather than fixed at platform level. The goal is to give brokers practical control over how quotes are selected, how orders move through the execution chain and where human or automated dealing logic is introduced.
Can ST Trader work with multiple liquidity providers?
Yes. The gateway and Quote Policy architecture supports multiple provider connections. Quote sources can be assigned their own priority and availability parameters.
Can different clients use different execution models?
Yes. Routing conditions can include account group and individual trading login, so different client segments can follow different execution paths.
Can I configure different routes by symbol or order size?
Yes. Symbol and volume range are available routing conditions, alongside operation type, account group and trading login.
What happens if the primary quote source stops updating?
A priority-failover policy can move the symbol to the next eligible source according to the configured failover, staleness and recovery rules.
Can a dealer review trades manually?
Yes. Selected operations can be routed to a Manual Dealer step and handled through an enabled Dealer Pool before the route continues.
Can dealing checks be automated?
Yes. Virtual Dealer policies can evaluate volume, spread and price deviation and then continue, reject or pass the request to the next configured step.
Design your liquidity and execution model with ST Trader
Connect external liquidity, choose your pricing sources, define execution routes and automate dealer logic — while keeping the broker's operating model under its own control.