Trading technology provider ConvergEx Group has enhanced its LiquidPoint platform for US-listed options with the launch of BLAZE, a high-capacity, low-latency execution platform.
The BLAZE software and architecture is combined with AORS v2, ConvergEx's routing and data processing tool. BLAZE is aimed at buy-side traders and will connect to every options exchange in the US.
LiquidPoint is also working on a sell-side version of BLAZE, which will be released in phases throughout 2011, on a yet to be decided basis.
In addition, LiquidPoint plans to bring out its own version of a volatility order with hedging capabilities at the end of March 2011, and a multi-exchange based volatility order. Traders will be able to execute across multiple exchanges and get fills almost instantaneously.
Joe Corona, director of strategic planning at LiquidPoint, cited increases in the number of options venues and range of expiries available down to a weekly level, combined with an increase in strikes down to the 50 cent level, as motivation for the introduction of BLAZE.
With these developments comes an increase in the quantities of data that need to be dealt with, as well as a focus on ever decreasing time spans, he said.
“We have completely revamped our hardware, software and network architecture to increase speed, reduce latency and increase capacity, reliability and flexibility,” said Anthony Saliba, CEO of ConvergEx's LiquidPoint. “With the speed and velocity of today's market, traders can no longer afford unnecessary latency while waiting for orders to be entered or messages to be routed.”
ConvergEx Group serves more than 6,000 clients in over 100 global markets. The firm also recently agreed to purchase multi-broker, cross-asset execution management systems provider RealTick, from UK bank Barclays.