QB Launches First Options on Futures Execution Algorithm, “Striker”
NEW YORK, April 21, 2020 — Quantitative Brokers (QB), an independent provider of advanced execution algorithms and data-driven analytics for futures and U.S. Cash Treasury markets, today announced the launch of a first-ever, intelligent algorithm for options on futures markets. Striker joins QB’s suite of award-winning best execution algorithms: Bolt, Strobe, Legger, Closer, Octane and The Roll.
Striker is the first dynamic agency algorithm for options on futures markets that incorporates both realtime cointegration and implied pricing calculations to determine fair value. The strategy also employs QB’s industry-leading, dynamic passive and aggressive child order placement logic. Striker transactions are also seamlessly displayed in QB’s complementary Transaction Cost Analysis (TCA) platform, another industry first.
“In an unprecedented time, with the CME floor closed due to the current global crisis with COVID19,” said Christian Hauff, Co-Founder and CEO of QB. “We are thrilled to bring this much needed solution to the market which has been seeking an intelligent and purpose built agency algorithm for the options on futures market. We look forward to continuing to fill this need on global exchanges as QB continues to expand.”
QB is committed to providing cutting edge trading solutions through its premium execution algorithms and analytics. QB’s innovative suite of products aims to help reduce implicit trading costs and solve execution workflow challenges for its global, institutional clients. The new algorithm further pushes the boundaries of what is possible with electronic execution by entering the options on futures markets.
Striker will initially support options on CME Treasury futures. QB expects to expand coverage across other CME futures instruments during 2020 including options on Eurodollars, equity index, energy and agriculture products. For Striker, QB has built brand new technology specifically for navigating options markets which have their own unique challenges and complexity. Dr. Robert Almgren, Chief Scientist and Co-founder, QB: “Striker is the culmination of an extensive research effort by our team to understand how to successfully trade options on futures, where liquidity can be a challenge, and where the fair price on any individual contract is hard to determine without looking at the entire complex.” Christian Hauff, CEO and Co-founder: “While there has been tremendous growth in the electronic trading of options on many CME futures instruments, execution is still undertaken manually on the screen. Striker will assist traders to greatly improve their productivity by using this advanced algorithm to seek liquidity at the best price.”
Striker will be accessible through the numerous EMS platforms that QB is integrated with, including QB’s proprietary application on the Bloomberg App Portal. Striker will be provided as a broker-neutral solution as per all QB’s algorithms for futures markets.
ABOUT QUANTITATIVE BROKERS:
Quantitative Brokers (QB), an independent, global financial technology company, provides advanced algorithms and data-driven analytics to clients in the Futures, US Cash Treasury and Options markets. The company is built on a research-driven culture, market microstructure know-how, and algorithmic engineering expertise. QB continually develops and innovates an evolving suite of products to reduce implicit trading costs for its clients. Headquartered in midtown Manhattan, QB has branch offices in London, Sydney, and Chennai.
QB currently supports the world’s largest exchanges, covering over 100 futures instruments and US Cash Treasury markets. QB’s robust suite of premium algorithms — Bolt, Strobe, Legger, Closer, Octane, The Roll and Striker — help futures, fixed-income and options traders achieve best execution, while reducing implicit trading costs. QB’s algorithms are provided in common EMS/OMS platforms, via the firm’s own proprietary applications on the Bloomberg App Portal, Thomson Reuters App Store or directly via FIX.
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