OPS

OPS is a strategic and opportunistic algorithm that patiently works an order utilizing the price action of the stock as the primary driver for execution speed. The goal of OPS is to allow traders to have their orders worked patiently between lit and dark venues while waiting to take advantage of favorable price movements. OPS also protects your order from predatory flow using Lifeguard anti-gaming logic.

Key Features

• Will trade more aggressively at prices better than the reference price
• Reference price is determined by recent trading activity and real-time market data
• Will not force order to complete by default (optional must complete setting)
• Customizable participation rate and reference price (VWAP, Arrival, etc.)

User Inputs

• Start time
• End time
• Urgency level 1-3
• Must complete parameter