Dash Financial Upgrades Smoke Options Algo

Institutional agency broker adds configurable auction exposure among other enhancements.

A view of downtown Manhattan in New York
Dash is based in New York.

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: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Systematic tools gain favor in fixed income

Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here