Ballista Securities, operator of the new Ballista ATS for block options and delta neutral orders, has started live trading on its platform.
The Ballista ATS launched with an initial client base of hedge funds, proprietary trading firms, market makers and other liquidity providers, and plans to expand rapidly, adding customers and liquidity to the platform.
Ballista offers anonymous, electronic access to qualified buy-side initiators and sell-side liquidity providers that trade in large block sizes. Trades matched on Ballista are initially being executed at either the International Securities Exchange (ISE) or the Chicago Board Options Exchange (CBOE).
“The start of trading on Ballista is the result of more than a year of intense effort, made possible by our talented and dedicated team, as well as members of both the buy-side and sell-side communities who aided us in our development,” said Robert Newhouse, CEO, Ballista. “We believe our ATS status accurately reflects our offering – a neutral venue designed to evolve the institutional options trading experience.”
“We have been pleased by the reactions of the options exchanges, especially the ISE and the CBOE, each of whom has been very receptive to our needs and those of our customers,” added Keith Landsberg, executive vice president, business development, Ballista. “We are pleased to see them offer the electronic crossing mechanisms that make us a powerful ally in the fight to bring more listed options volume back to the exchanges.”