Options Trading Liquidity-Seeking Algorithm Strategies
Simultaneously sweeps top of book displayed liquidity across all exchanges. Any residualwill post to one or more exchanges.
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Sweeps the market for all available liquidity at the time of order entry. Any residual willcancel back.
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Submits sweeping slices to exhaust all hidden and displayed liquidity. Any residual will postto one or more exchanges.
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Functionality that allows the Trader to designate how much of the order should be displayedwhen posting to the market (aka Synthetic Reserve Order).
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Unique logic that sweeps the market when the order is marketable, the residual will not post.
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Order routing logic based on best market conditions. If the best price is tied between twoor more exchanges, the order is routed to the preferred exchange.
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Divides the order quantity evenly across all exchanges. Any residual contractsare sent to the preferred exchange.
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The order is submitted as a SMART order but if the preferred exchange does not haveenough size available and the order is marketable, the order will Sweep.
More on NBBO Sweep
Other Options Liquidity-Seeking Algorithm Features
Complex Option Orders
Multi-Legged Options (+ Equity) - Spread order entry that has access to the exchange complex order books with or without equity.
Smart Spreads - Spread routing based on best market conditions of the leg markets.
Facilitated - Single or Spread Facilitation order natively handled on the option exchanges.
Adaptive ve Algos
Delta-Adjusted - Functionality which adjusts an option order’s limit price based on the underlying stock price movement and trader defined parameters. Additionally, the trader has the ability to add an equity hedge component with flexible execution parameters.
Blast Order - where the trader submits a basket of option orders within one underlying security,
which simultaneously sweeps the market.