Saxo Bank has announced the launch of a combination order ticket for all US listed equity, ETF and index options on its SaxoTrader platform.
The combination order ticket allows users to simultaneously place orders to buy and sell different options from the same order ticket.
Rather than trading options leg-by-leg using multiple trade tickets, users will be able to execute orders for different legs as one order.
Georgio Stoev, futures and listed options product manager at Saxo Bank, explained the multi-legged strategy provides its clients with “unique opportunities to participate in established option strategies such as straddle, ratio spreads and iron condor.”
Saxo Bank added the combination order ticket was designed to offer its clients “seamless execution across multi-asset instruments, whilst giving clients greater control and transparency over order tickets.”
Patrice Henault, head of futures and listed options at Saxo Bank, described the launch as a milestone for the company.
“Clients using the new ticket will benefit from capital efficiencies, reduced market risk and ability to analyse strategies before execution,” he said.