VOLEX Execution Services has unveiled a high-speed routing algorithm as part of the expansion of its offering to US options traders.
A unit of Volant Trading, VOLEX Execution Services said its VOLEX Take Out tool aggressively sweeps displayed and hidden liquidity, with sub-millisecond order processing times.
Volant had previously worked with a few select bulge-bracket firms but will now expand its execution services business to reach a wider range of options market participants.
VOLEX Take Out is available via the REDIPlus execution management system, which was recently spun out from Goldman Sachs Electronic Trading, as well as Bloomberg EMSX, and the FIX Protocol.
“The US options market microstructure is evolving quickly with 12 exchanges introducing different order types and complicated fee tables,” said Vishal Gupta, head of VOLEX Execution Services.