ConvergEx Group, a leading technology company, today announced that LiquidPoint, its options technology business, has released a new suite of algorithms designed to help traders automate their multi-leg options trading strategies. Modeled after its high performance single leg algorithms, the new LiquidPoint multi-leg suite includes Complex Order Book Sweep, Reserve, Hidden and Pulse.
“The trading of multi-leg options is expanding rapidly in the listed options market,” said David Cross, managing director and head of options sales for ConvergEx’s LiquidPoint. “As more options exchanges move to open their own complex order books (“COBs”), LiquidPoint is aggressively enhancing its capabilities to provide customers with innovative and timely solutions in order to access the options market both smartly and strategically.”
LiquidPoint’s new multi-leg algorithms are designed to simultaneously operate on all of the COBs, thereby eliminating the need to view and route to each COB independently. Highly customizable, each algorithm can be tailored to address traders’ specific execution requirements and can be accessed through BLAZE®, LiquidPoint’s execution management system or via third-party platforms.
Traders now also have the ability to have this suite of algorithms intelligently interact with liquidity in NXP, LiquidPoint’s listed-options liquidity pool. This sophisticated functionality provides liquidity discovery and price improvement. As an agency provider, LiquidPoint has built NXP in an environment that allows liquidity providers to compete aggressively and fairly for its customers’ multi-leg orders.
Additionally, LiquidPoint has enhanced the functionality of its proprietary Universal Complex Order Book, also known as uCOB, which fully integrates all of the options exchanges’ COB feeds into one central view. Available through BLAZE, uCOB now offers a highly flexible and configurable window that allows traders to view multi-leg orders in a variety of ways to suit their individual needs, including by strategy, underlying product, size, marketability, and exchange, to name a few. Importantly, the window allows traders to simply “point and click” to instantaneously trade on any multi-leg order using one of LiquidPoint’s DMA or algorithmic connections. Lastly, for API or black box users wishing to electronically execute multi-leg orders, LiquidPoint offers a fully integrated and normalized COB market data feed.
“Our success lies in our ability to know our customers and to deliver the solutions they need to remain competitive,” commented Anthony J. Saliba, chief executive officer of ConvergEx’s LiquidPoint. “With recent platform enhancements, new and ongoing service improvements and the addition of new talent, LiquidPoint continues to devote every effort to delivering an exceptional experience in listed options trading.”