NEW YORK, May 6, 2015 (GLOBE NEWSWIRE) -- VOLEX Execution Services, a division of Volant Trading, announces VOLEX Liquidity Auctions for traders seeking liquidity beyond the current quotes represented by the U.S. listed option markets. The VOLEX Liquidity Auction uses exchange-sponsored auction sessions to attract liquidity that is not displayed.
Many option exchanges offer intraday auction sessions. However, the institutional market does not have the execution services or the tools required to tap this source of liquidity. "Most smart order routers do not accommodate auction sessions for institutional clients," explains Vishal K. Gupta, Head of VOLEX Execution Services. "As spreads continue to widen, traders must adopt more advanced execution services to discover liquidity, electronically and efficiently," continued Gupta. "Auctions set up an 'electronic jump ball' where liquidity providers compete for the order," concluded Gupta.
"The markets have matured and auctions have become a significant part of the listed options business," commented Ed Boyle, CEO of BOX Options Exchange. "We are very pleased to see VOLEX take the auction process to the institutional community, as it has been underserved in this area," continued Boyle.
The VOLEX Liquidity Auction is an entirely automated service. VOLEX secures a contra to the client order to initiate an auction at an exchange. Once the auction is opened, liquidity providers compete for the order, providing size and price improvements. In this way, the auction facilitates competitive bidding to attract liquidity not posted on the displayed market. During the auction, the order can only be traded at the National Best Bid and Offer (NBBO) or better. VOLEX operates under Volant Liquidity LLC, an SEC registered broker dealer, which is part of Volant Trading Group.
VOLEX Liquidity Auctions are available to registered brokers for U.S. listed options. Orders can be sent to VOLEX via the FIX® Protocol, the REDIPlus® and Bloomberg™ execution management systems.
Information: volex@volanttrading.com; 646-484-3200 Press: Marie@PublicNotions.com; 203-536-1334
About VOLEX www.VOLEX.co
VOLEX brings advanced execution capabilities and an innovative cost structure to the trading market. Specialized for option trading, VOLEX offers a sub-millisecond, ultra-low latency routing infrastructure, advanced routing logic and aggressive liquidity capture execution services including VOLEX TakeOut and VOLEX Liquidity Auction. VOLEX is available through the FIX® Protocol, REDIPlus® EMS and the Bloomberg™ EMSX systems.