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.
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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