Traders can now create custom order-routing algorithms designed specifically for their unique strategies
TradingBlock, a provider of custom trading technology solutions for institutions, individuals and Registered Investment Advisors (RIAs), announced that traders on their platform can now deploy customized order-routing algorithms to meet their specific needs. The capability is available to asset managers and professional and active traders who want to align order-routing algorithms to their unique strategies.
Order-routing algorithms, which are software-based instructions used to determine how to carry out buy or sell orders for securities, help traders by enhancing the efficiency and effectiveness of executing trades including options strategies in dynamic market environments.
“By providing clients the ability to deploy customized order-routing algorithms, TradingBlock is once again strengthening its commitment to being made for the way you trade,” said TradingBlock Institutional Trading Manager Gino Stella. “This new capability gives traders more control as they can tailor their order routing algo to their strategy. They are no longer tied to broadly used, off-the-shelf algorithms.”
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In addition to allowing traders to design order management protocols that closely align with their strategy, the trader-designed algorithms are kept confidential and can be used in conjunction with built-in order routing redundancy through multiple executing brokers. This redundancy ensures trades are fast and reliable even if certain components of the order routing process fail. Minimizing the risk of delays is crucial in the fast-paced world of options trading.
“Empowering traders with their own customized order-routing algorithms is especially critical in today’s market environment,” Stella said. “It allows them to quickly adapt to changing conditions and optimize their strategy based on their unique insights, taking the efficiency and impact of their trading to the next level.”
The launch of customized order-routing algorithms follows the recent release of TradingBlock’s executing broker-neutral platform, which allows traders to design a custom execution environment around their unique strategy while reducing the limitations of being tied to a single platform, single executing broker and a limited set of order-routing algorithms.
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