THOR Trading Platform

Page Summary

The Tactical Hybrid Order Router is an electronic trading platform that delays large orders on purpose so that scalpers cannot take advantage of it. Allen Zhang and Brad Katsuyama created the platform whilst working at the Royal Bank of Canada. 

Most of the time a large order cannot be fulfilled by a single stock exchange. It has to go through different stock exchanges. Scalpers would notice this and buy the stocks on other exchanges using high-frequency trading (HFT). This way they can sell the stocks with profit as soon as the order comes through in its entirety. The THOR trading platform splits large orders into multiple sub-orders and delays these on purpose to make sure they all arrive at the same time at all the exchanges. This prevents scalpers from using HFT trading to profit from the order.


eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.


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