Options algos? Tell me more!
Click here to access Trading Tech Talk 31: Talking Options Algos with Convergex
CTO Interview: Today?s guest is Ben Londergan, Executive Managing Director, Options Trading and Technology at Convergex.
He discusses:
- An overview of his background and how he found his way to Convergex
- A quick overview of their HFT survey.
- An overview of their Commission Sharing survey.
NXP ATS
- How does pre-exchange price improvement work? What percentage of NXP orders receive price improvement?
Convergex Algos
- The Sweep and Capital Commitment algos.
- What is the future of the floor? In this world of sub-second executions what value does he see the trading floor bringing to the table?
- Reg SCI
Hot Topics in Tech: High-frequency trading worries are fading, Convergex finds. The fever may have broken when it comes to criticism of the U.S. stock market.
Lightning Round: Mini Y2K – Traders anxious ahead of extra second in day. Complex US options market hampers liquidity – report. Still more riches in finance than tech.
The Inbox: Listener questions and comments
- Question from Alan Park – Why is open interest not calculated instantly? If I buy 10 puts to close, why is that not automatically reflected in the open interest displayed by the exchanges? Is it not outdated to update such an important metric only once a day?
- Question from Elly Sanders – We have dark pools in stocks. They do most of the volume on some days. Why do we not have them in options? Will that ever change?