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Bloomberg Tradebook optimizes execution with launch of OPTX

First Published 6th March 2017

OPTX connects clients to 'best-in-class' destinations, capitalizing on Bloomberg Tradebook's connectivity and data and analytics.

Glenn Lesko, Bloomberg Tradebook

Glenn Lesko, Bloomberg Tradebook

New York - Bloomberg Tradebook, Bloomberg's agency broker, has announced OPTX, a new approach to delivering best execution that harnesses Bloomberg's agency execution model, connectivity, and data and analytics.

OPTX provides clients with a single platform that utilizes quantitative data models and analytic-driven selection to route orders to a suite of destinations. Applied to Bloomberg Tradebook's equities and options offerings, OPTX can help traders to optimize execution and drive down implicit costs.

"Optimizing the execution process is critical to creating a competitive return for asset managers," said Glenn Lesko, CEO and President at Bloomberg Tradebook. "OPTX is addressing some of our clients' greatest concerns by reforming the agency execution model and adapting to market changes."

OPTX has been applied to Bloomberg Tradebook's equity and options offerings in the United States, including benchmark algorithms, which now connect to a series of counterparty algorithms that are optimally chosen based on order, market and broker characteristics. OPTX also encompasses Bloomberg Tradebook's proprietary liquidity-seeking strategies, such as B-Dark, B-Smart and ETF RFQ, as well as the portfolio algorithm and PAIR platform, which leverage data from Bloomberg functionality.