Dash Financial Upgrades Smoke Options Algo
Institutional agency broker adds configurable auction exposure among other enhancements.
Smoke is designed for institutional traders with a particular trading agenda. Users typically do not wish to post their interest on the exchange order books, and instead only wish to aggress screens when they are in a position to capture liquidity, with a certain amount of volume available and at a particular net price.
The latest functionality enables users to have the ability to configure exchange auction exposure as well as the 'probe' interval. This empowers users to intelligently source additional liquidity beyond what is displayed on the National Best Bid and Offer (NBBO).
Fees Focus
Further enhancements enable users to optimize their exchange fees by allowing them to configure their desired fee profile. Settings include 'Fee Insensitive', 'Free or Credit' and 'Credit only'.
The settings are calibrated within the company's next-generation 'Algo-Wizard' which enables Dash to fully customize the execution experience on a firm, strategy, account, trader and even symbol basis in real time.
"Smoke has been popular because it empowers our clients to capture their desired liquidity at the optimal net-price, without ever posting an order on an exchange," says Peter Maragos, CEO of Dash Financial. "The enhancements we have made enable institutions to intelligently find greater liquidity than they see on the screens on a net price basis without market impact."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
Bolsa Mexicana embarks on multi-year modernization project
Latin America’s second largest exchange is embracing cloud and upgrading its infrastructure in a bid to bolster its global standing, says CEO.
S&P’s $1.8 billion buy, an FIA restructure, a tokenization craze, and more
The Waters Cooler: CAIS creates CAISey, BNY deploys EquiLend, and more in this week’s news roundup.
Bloomberg integrates AI summaries into Port
One buy-side user says that while it’s still early for agentic tools, they’re excited by what they’ve seen so far.
Larry Fink: ‘We need to be tokenizing all assets’
The asset manager is currently exploring tokenizing long-term investment products like iShares, with an eye on non-financial assets down the road.
Examining how adaptive intelligence can create resilient trading ecosystems
Researchers from IBM and Wipro explore how multi-agent LLMs and multi-modal trading agents can be used to build trading ecosystems that perform better under stress.
S&P Global partners with IBM, Eventus launches Frank AI, Tradeweb expands algo execution abilities, and more
The Waters Cooler: Arcesium makes waves with Aquata Marketplace, NYSE Cloud flows into Blue Ocean Technologies, and more in this week’s news roundup.
Robinhood looks to ‘Chaos Monkey’ for op resilience playbook
As firms look to break down silos across business divisions to bolster operational resilience, the US broker is ditching emails, while utilizing chaos engineering and automating everything in sight.
Bank of America’s GenAI plan wants to avoid ‘sins of the past’
Waters Wrap: Anthony spoke with BofA’s head of platform and head of technology to discuss how the bank is exploring new forms of AI while reducing tech debt and growing interoperability.
