On Point Executions Offers STING SWEEPING through Neovest, Inc.

18 December 2008

On Point Executions an agency-only broker, is pleased to announce their smart option order routing system-STING will now be available to Neovest customers. Neovest, Inc. develops and markets intelligent, proactive electronic execution solutions that maximizes the performance of buy-side, sell-side, and other investment professionals. Neovest streamlines the work-flow complexities of a comprehensive trading desk and is a single source of liquidity access.

The On Point STING routing logic uses empirical data to determine which destination will yield the optimal execution. On Point’s proprietary options routing algorithm interacts with liquidity pools with preferences defined according to best price, and past performance of how the provider interacted with order flow. STING then monitors all existing market centers for execution quality and applies this data to determine the most efficient execution venues to route orders. It has the ability to garner more liquidity by analyzing the intricate pricing and decision-making logic of market participants so as to provide superior execution quality and added value to On Point customers.

Unique Sweep Function Increases Execution Results

STING's unique electronic “sweep” function can buy all posted offers or sell all posted bids in a virtual instant and ensures that customer’s orders can interact with non-electronic and electronically posted liquidity pools on multiple exchanges simultaneously. STING captures all available liquidity while at the same time minimizing market impact. This results in clients achieving better than expected execution quality with STING than with any other industry execution offering. STING is FIX 4.4 compliant and can be accessed through the Neovest platform.

“STING is the routing solution to achieve optimal quality results. On Point welcomes the opportunity of STING connectivity with Neovest”, says Paul Carrozzo, co-principal at On Point. “Our offering with Neovest, and their commitment to electronic liquidity solutions, enables the industry to receive a robust routing experience that can achieve more than what the exchanges are quoting at any given moment."

“We are pleased to work with On Point and offer a cutting edge route to our clientèle as part of our commitment to seek quality executions", said Bryce Byers, President and CEO of Neovest. “STING’s highly desirable routing capabilities will only enhance what Neovest already offers to the industry."

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