Retail orders that are not matched against these quotes are immediately executed against the deep liquidity pool residing in the Central Order Book. Investors will therefore tap into the deepest source of liquidity for Euronext-listed stocks while benefiting from corresponding price advantages. In Q3 2016, the 'pre-launch' version of the service already delivered an average saving to retail investors of 9.87 basis points per trade, as measured by an independent third party, LiquidMetrix[3]. "Complexity in the trade execution process has increased with the proliferation of trading venues and fragmentation of liquidity.