BBO Trading App
With the introduction of the NASDAQ Futures exchange, there are now 3 different commodity exchanges that list energy products. These are CME, ICE and now Nasdaq Futures (NFX). The BBO Order Router facilitates trading between these 3 commodity exchanges by allowing the trader to trade, with 1 order, across all 3 different exchanges (or 2 if that’s what they’ve configured). This type of “Sweep” order is typically used in equity markets when traders have an opinion on volatility, allow the trader to take out a significant amount of volume at a certain vol level. When Sweep Orders are placed it’s also possible that the trader can buy or sell vol across a few different strikes.
The user has the ability to setup exchange priorities for each product (Eg. CRUDE) and can also disable an exchange on a per product basis. Users can also select a specific trading account for orders to an exchange per product.
Note that this widget needs Metro v6.1. It is not meant to replace City Market or the Order Viewer, but instead extends its functionality on the back end with smart order placement. For this version, only MARKET and LIMIT orders are supported.
Remember that in Metro NOW, dashboards and widgets can be utilized in both OnRamp and Metro clients.
Related Resources
Exegy Enhances Iceberg Order Detection Tool with Intraday Data
St. Louis, New York – Feb 29th, 2024 – Exegy, a leading provider of market data and trading technology for the capital markets, today announces the addition of intraday signals…
Building Success, Buying Excellence
4 factors to consider when upgrading trading infrastructure When it comes to building out and upgrading trading infrastructure, firms must decide whether they’re looking for a custom-built, in-house solution or…
Yesterday’s Infrastructure is Today’s Financial Loss
3 Ways Market Data as a Service can Protect Your Business With baseline market volatility increasing, traditional market data infrastructure systems are being pushed to their limits. Exegy’s combination of…