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Matrix Executions Enhances Price Discovery Algorithm Suite for US Listed Options
[February 04, 2025]

Matrix Executions Enhances Price Discovery Algorithm Suite for US Listed Options


Matrix Executions, an agency-only broker dealer and trading technology provider, has enhanced its US listed options algorithm technology suite with new price discovery and liquidity-seeking tools.

The highly customizable algorithms are transforming how traders seek out both on- and off-exchange liquidity for simple and complex order flow. The algorithms - Seeker, Crawler, and Tease leverage the robust Matrix configuration library to calibrate a variety of routing functionalities such as smart exchange posting, randomized displayed interest, and market-adjusting timing and triggering. Seamless integration with the Matrix QRX ATS enables new opportunities for price discovery and trading efficiency.

Key Features:

  • Seeker searches for unpublished liquidity through a non-posting, multi-wave process utilizing off-exchange venues such as Matrix QRX ATS, Complex Order Auctions, and 3rd party venues for greater liquidity, price improvement, and fee savings.
  • Crawler executes dynamic price discovery in configrable waves while adapting to market signals. Leveraging user-defined or calculated levels of urgency, Crawler adjusts its approach based on shifting market structures.
  • Tease aims to work in wider, illiquid markets to stimulate interest as the algo iterates through varying waves of randomized price and size exposure.

Although primarily tailored for institutional trading, Crawler has the configuration ability to diversify the handling of consolidated retail order flow. The retail consolidator flavor of Crawler has demonstrated impressive EQ statistics, making for a fast and efficient alternative for market participants to interact with this workflow.

The algo suite supports both simple and complex options trades. With Seeker, Crawler, and Tease, traders can access innovative price discovery tools designed to unlock liquidity and improve execution efficiency. The refinement and proven success of these algorithms, coupled with Matrix's bespoke customer-specific solutions model, provide a complete solution for any approach to interacting with the market.


About Matrix Executions and Matrix QRX ATS:

Matrix Executions is a Chicago based agency-only broker dealer specializing in innovative trading solutions for institutional Equities and Options. Our mission is to provide cutting-edge products that empower traders in an ever-evolving market landscape with a focus on transparency, customization, and innovation.

Matrix QRX ATS is a fully registered, electronic options alternative trading system where users can access multiple-liquidity participants concurrently, allowing for blind and broad competition to receive optimal pricing and liquidity.

For more information about Matrix Executions, please reach out to [email protected] or visit our website at www.matrixexecutions.com


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