On Point Says STING Has Boosted Trading Capacity
On Point Executions, an agency broker and provider of equity option smart order routing solutions, has announced a 140-fold increase in trading capacity. This has been attributed to the launch of STING, the firm’s new smart order router, as an execution destination on a number of trading platforms. This increase in trading capacity follows a near 600 per cent increase growth in volume in 2007 and a partnership with OptionsXpress allows retail clients access to this technology, now capable of trading 7000 messages per second. Launched in July, STING is billed as the first agency-only smart order router which can connect to all US options markets without activating exchange preferences. By hitting all six markets simultaneously it can execute with both displayed and undisplayed liquidity and this gives higher execution quality by avoiding exchange quote traffic at near zero latency rates, On Point says. Because of this, STING is able to execute liquidity before most order routers can respond.
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