Complementing optionsXpressâ proprietary smart order routing technology, optionsXpressâ customers can now choose to route their order flow to STING, On Pointâs equity-options smart order routing facility.
STING aims to provide best execution to optionsXpress customers by instantaneously hitting all displayed liquidity at a given price point at the six regional options exchanges once the order is placed. STING accomplishes this through direct connections to each exchange rather than a series of linkages.
âWe have been impressed with the quality of execution On Point delivers and the level of customer service it provides." said Peter Bottini, Executive Vice President of Trading and Customer Services at optionsXpress. "We are pleased to complement to our own smart order routing technology with this service.â
âoptionsXpressâ use of On Point Executions is consistent with its ongoing commitment to offer their clients top level execution in the options market,â said Paul Carrozzo, co-principal at On Point Executions. âRelying only on the current options linkage system to receive price improvement or added liquidity causes latency and missed opportunities for investors. With quote traffic at an all-time high and only expected to increase, investors and trading desks are expecting and deserve better execution.â