On Monday, On Point Executions, an execution consulting firm providing equity-option smart-order routing solutions, announced the launch of STING, its options smart-order router and liquidity matching engine for options markets.
STING is a smart-order router that accesses all six regional options exchanges simultaneously to take all displayed liquidity at a given price. In addition to executing against all displayed liquidity, STING performs as a liquidity matching engine by executing against market makers’ non-displayed, depth-of-book pricing models.
“STING offers a solution to obsolete options trading technology, which often miss opportunities to execute at the best price due to latency problems or trading systems that hold options orders hostage to liquidity at a single venue,” says John Lapertosa, co- principal, On Point Executions.