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WEX enhances options algorithm suite

First Published 1st February 2017

Wolverine Execution Services adds Best-X options for spreads and new Vol and TWAP algorithms.

Chicago - Wolverine Execution Services (WEX), a provider of technology and execution services, has announced the ability to send complex orders to its Best-X options algorithm and the addition of two FIX based options algorithms, Vol and TWAP.

· Best-X options algorithm can be used for spreads providing the ability to probe for liquidity and price improvement in the Complex Order Book (COB) auction mechanisms for client orders.

· Vol algorithm will work an order based on a specified volatility level and allows clients to specify how aggressively the order should be worked in the market.

· TWAP for options executes trades by splitting a large order into smaller equal-sized parts or slices that are spread over the selected time duration.