Quantitative Brokers Launches Futures Execution Algorithm
New algorithm, Closer, targets best execution around closing price benchmarks for market-on-close and target close futures orders.
Quantitative Brokers (QB), a dealer-neutral algorithm provider for the fixed income and futures markets, has rolled out the fifth algo in its suite, specifically aimed at optimizing execution relative to an instrument’s close or settlement price benchmark.
The Closer algo utilizes real-time analytics to automatically determine optimal start and end times for market-on-close (MOC) or "Target Close" futures orders via existing EMSsand OMSs. Closer orders are integrated into QB's Transaction Cost Analytics (TCA) platform, providing transparency into every child order and action taken by the algorithm.
Closer is the fifth in QB's suite, alongside the Bolt, Strobe, Legger and The Roll algorithms.
"Algorithmic trading is rapidly gaining traction across the capital markets, especially as firms are becoming more aware of how important best execution practices are to their business," said Christian Hauff, CEO of Quantitative Brokers, in a statement.
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