The On Point STING routing logic uses empirical data to determine which destination will yield the optimal execution. On Pointâs 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 âsweepâ function can buy all posted offers or sell all posted bids in a virtual instant and ensures that customerâs 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.
âSTING is the routing solution to achieve optimal quality results. On Point welcomes the opportunity of STING connectivity with Neovestâ, says Paul Carrozzo, co-principal at On Point. âOur 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."
âWe are pleased to work with On Point and offer a cutting edge route to our clientÃ¨le as part of our commitment to seek quality executions", said Bryce Byers, President and CEO of Neovest. âSTINGâs highly desirable routing capabilities will only enhance what Neovest already offers to the industry."