All Weeden strategies have the ability to access nondisplayed liquidity either inherently or via a user parameter.
Every pool, dark or lit goes through an extensive evaluation process before any connectivity is established. Weeden consults with each pool to discuss order types, constituents, minimum fill size, fill rates, average fill size, etc. Weeden does not allow pools to route outbound or send IOIs.
Liquidity interaction varies based on the strategy and parameters used by the client. Routing logic varies by strategy, but Weeden does not route based on rebates from the destination.
Lifeguard is Weeden’s antigaming and destination monitoring logic that is part of the firm’s electronic offering. Lifeguard constantly monitors execution fills, spread size, price, volume, etc. and will dynamically adjust how and where orders are placed in the dark pools.
Weeden offers support for customisations that can be as simple as opting in/out of destinations, to incorporating clients’ risk models, covariance matrix, or proprietary strategy logic.
Service and reporting
Weeden can provide full details on order placement, adjusted spread capture and Tag 30. Customisations can be as simple as opting in/out of destinations to incorporating clients risk models, covariance matrix, or proprietary strategy logic.
Weeden plans to expand into other asset classes and trade electronically in non-U.S. destinations, within the next 12 months.