CASE STUDY:
Diving into the Dark
Dark pools have become a significant source of liquidity in today's marketplace. An exchange in the National Market System wanted to give customer orders an opportunity for price improvement by accessing dark liquidity. OES’s Dark Gate was the answer.
DARK LIQUIDITY SEEKING ALGORITHMIC SUITE
Dive into hidden liquidity with OES’s Dark Pool Explorer® algorithmic tools. Our proprietary dark router technology scans hidden pools of liquidity, finds the best price and executes trades anonymously. With Dark Gate® you can trade both large blocks and smaller orders more efficiently—with no market impact—and achieve price improvement.
Dark Pool Explorer® tools support your strategy without revealing it and give you full access to dark liquidity in whatever way best fits your trading strategies and client needs—all at a low cost.
Dark Gate®: Bringing more opportunities to light
Dark Gate® expands trading opportunities by adding dark pools as anonymous routing destinations for orders originating in the National Market System.
- Smart routing of outbound exchange and market-center orders to dark pools
- Finds all pools of dark liquidity: visible, hidden and reserve
- Customizable dark destinations to improve fill ratio and target liquidity
- For dark pools: improves flow of crossing opportunities, thus improving match rates
- For orders in NMS market centers: provides price improvement from the NBBO
- Easily integrated with the OES Smart Order Router
- Maintains total anonymity and prevents trade-interest leakage
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