CODA Fuse wordmark in white

how the stock market was meant to trade

It’s time for the market to move away from an obsession with speed and nanoseconds. It’s time to instead focus on market convergence. It’s time to bring buyers and sellers together in one place, in real-time, and trade at a price based on market demand that is fair to all parties.

It’s time for Apex CODA Fuse.

an automated, on-demand auction powered by CODA Markets

A multilateral auction model linked directly into algorithmic workflows.

Fuse is optimized to serve the needs of low-touch traders. It enables auctions to be executed instantaneously, fluidly and continuously throughout the trading day.

View video to learn more.


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deep & diverse multi-source liquidity
Capture the market’s algorithmic liquidity from multiple sources and order types.
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conditional flow optimized
Fuse auctions generate unique invitations, and multiple conditionals can execute in a single trade
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reduced opportunity costs & info leakage
Because all trades happen simultaneously, opportunity costs — and the risk of leakage — are potentially slashed to zero.
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high execution rate
Improve trade performance by completing more of your institutional order with low market impact.
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No change to trader’s workflow, as Fuse integrates with all algos and order types.
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enhanced productivity
Know within milliseconds
if liquidity is found.

it works

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Executes trades multilaterally & simultaneously
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Aggregates diverse liquidity from multiple sources & order types
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Promotes true price discovery while minimizing market impact
diagram showing how CODA Fuse works with broker trades and liquidity in the CODA book


find out how
Apex CODA Fuse can integrate into your trade workflow.

At CODA Markets, we believe in a fair, competitive, and inclusive market in which price is determined according to supply and demand.
That’s why we pioneered the auction model — to help institutions prioritize liquidity over speed and execute trades with multiple counterparties simultaneously.

Let our team put our market experience and technological command to work for you.
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Apex CODA Fuse Overview