STING^TM

• STING^TM is a router that sweeps ALL exchanges SIMULTANEOUSLY while interacting with dark liquidity providers and minimizing market impact.

• The liquidity pools that STING^TM interacts with are preferenced on past performance and Market Share statistics. Liquidity providers compete with EACH OTHER to give your customer the best execution achievable.

• STING^TM is based on an algorithm that is constantly learning from empirical data of past executions. From this data STING^TM routes to the best destination based upon the quality of past results.

• STING^TM is Fix Compliant and OMS neutral. It can easily be integrated into existing proprietary systems to provide access to current electronically displayed markets and act as a Regulation-NMS Market Sweep Solution.
  

What is STING^TM?

STING^TM is a smart order-routing, liquidity-matching system, which puts the control of execution quality in the traders hands. STING^TM is the options industry’s most advanced execution venue. It leverages the concepts of order management, direct market access and the most advanced liquidity management provisioning available.

Often overlooked, execution quality is the most tangible way to provide added value for customers. Many clients utilize obsolete execution technology that holds option orders “hostage” to liquidity of a single venue. Our proprietary intelligent options routing facility, or “STING^TM,” is a superior execution solution that both buy-side and sell-side clients have realized to be a required industry necessity.

The demand for access to this evolving market facility is already extraordinarily high. We suspect that all options industry order originators will soon want to do for their clients what we can do for you now.

How does STING^TM Work?

The STING^TM function interacts with a liquidity pool with preferences defined according to best price, assigned and published symbol allocation, and past performance of how the particular provider interacted with order flow. STING^TM accomplishes this by monitoring all existing market centers for execution quality and utilizing this information to determine the most efficient execution venues to route orders. By using empirical data to determine which route destination will yield optimal order execution for your customer’s orders, STING^TM has the ability to leverage and garner more liquidity by understanding the intricate pricing and decision-making logic of the existing industry players.

Why is STING^TM Unique?

STING^TM incorporates an electronic “sweep” function that can buy all posted offers or sell all posted bids in a virtual instant. The STING^TM “sweep” function ensures that customer’s orders can interact with the non-electronically and electronically posted liquidity pools on multiple exchanges simultaneously. This in turn captures all posted and non-posted liquidity in a specific strike and series while at the same time minimizing market impact. This approach ensures that the probability of achieving better than expected execution results would occur more often with STING^TM than any other industry execution offering.

Who Uses STING^TM?

STING^TM has the highly desirable capacity to serve both buy-side and sell-side clients.

What are the Benefits of STING^TM?

• Have multiple Broker Terminals handle your correspondents.
• A virtual broker automatically routes client orders.
• Completely fix compliant.
• Maintain a continuous Audit Trail.
• Limited Network “Hops.”
• Control over services.
• No Standards Deviation.

Special Handling Desk
Strategic Assistance with Risk Management