October 07, 2024 06:41 AM Eastern Daylight Time
CHICAGO–(BUSINESS WIRE)–Matrix Executions, an agency-only broker dealer and trading technology provider, is thrilled to announce the imminent launch of its new electronic Alternative Trading System for US listed options, Matrix QRX ATS. This innovative tool is designed to advance trading for institutional investors, delivering advantages in price improvement, liquidity enhancement and best execution practices.
Matrix QRX ATS features an emphasis on price improvement and liquidity enhancement. The system employs advanced technology that offers traders access to liquidity provider pricing and exchange auction mechanisms at the touch of a button. The functionality not only improves price, liquidity and trading cost outcomes but also contributes to a more efficient market experience.
The ATS is specifically engineered to increase liquidity in US listed equity and index options by linking a diverse pool of order flow and liquidity participants by use of electronic, blind indications of interest (IOI’s). The innovative approach allows traders to navigate the marketplace without revealing direction or price indication, creating a layer of anonymity. The ATS then allows Liquidity participants on the platform to compete for the order flow by providing two-way responses to the IOI’s, which inherently improves depth and/or pricing.
The process is deeply integrated within the Matrix algo suite making the QRX ATS extremely flexible and available with low latency. With speed in mind, matching interest between participants within the ATS occurs in a fraction of standard exchange auction times making no material impact on routing time to the exchanges.
“With the ATS being tightly tied into our existing technology, any algo strategy can be enabled with the ability to quickly ‘ping’ liquidity providers with an IOI prior to commencing the routing operation for simple, complex and tied orders,” mentioned Joe Corona, Chief Strategy Officer at Matrix Executions.
The design of the QRX ATS incorporates multiple competitive-based order auctions at both the system and exchange levels. Once matched in the ATS, Matrix facilitates a paired crossing order, as all US listed options trades must print on an exchange. The paired orders are subject to an additional opportunity for price discovery or liquidity enhancement at the exchange level through the native auction mechanisms. By facilitating these auctions, Matrix Executions and the QRX ATS empower participants to capture optimal prices while implementing trades of any size without significantly affecting market structure or violating quantity or trade restrictions in both the Global (GTH) and Regular (RTH) trading hour sessions.
“At Matrix Executions, our goal is to transform the trading experience for institutional traders. Matrix QRX ATS accomplishes that by introducing a competitive auction process focusing on the core needs of traders – price discovery, liquidity, and trading cost mitigation. We believe this will elevate the market experience and trading efficiency for our clients,” stated Jordan Naylor, CEO of Matrix Executions.
About Matrix Executions:
Matrix Executions is a Chicago based agency-only broker dealer specializing in innovative trading solutions for Equities and Options. Our mission is to provide cutting-edge products that empower traders in an ever-evolving market landscape with a focus on transparency, customization, and innovation. We are dedicated to delivering exceptional solutions and results to the institutional trading community.
For more information about Matrix Executions and the new options ATS, please reach out to sales@matrixexecutions.com or visit our website at www.matrixexecutions.com
