Bloomberg Tradebook, Bloomberg’s global agency broker, announced today the introduction of OPTX, a new approach to delivering best execution that harnesses the power of its agency execution model, global connectivity and Bloomberg’s market-leading 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 empowers traders to optimize execution and drive down implicit costs.
Today, buy-side traders are faced with the pressure of proving best execution while having to sort through a long list of electronic trading options and adapt to the ever-changing regulatory landscape. OPTX addresses those challenges through the development of a new technology that responds to real-time data and changing market conditions, dynamically re-routing between different strategies and counterparties to ensure clients are achieving best execution throughout the day.
“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.
“Bloomberg Tradebook is singularly positioned to deliver this level of best execution, maximizing our agency execution model, unparalleled data and analytics capabilities, and extensive counterparty and global network connectivity,” continued Lesko. “Channeling these strengths through OPTX builds on 20 years of delivering best agency execution experience and unique value to our clients.”
Bloomberg Tradebook is a leading agency broker that partners with both the buy side and sell side to provide direct market access, access to high-quality liquidity, market insight and innovative technologies through the Bloomberg Professional service. Established in 1996, Bloomberg Tradebook and its affiliates offer its global customer base trading solutions for equities, futures, options and ETFs so they can execute complex-trading strategies across more than 100 global exchanges in over 40 countries.