Ballista Holdings, operator of an ATS for block options and delta neutral orders, has received funding from a group of investors including the International Securities Exchange, Knight Capital Group, Morgan Stanley and Susquehanna Growth Equity.
Ballista ATS began trading last August, offering anonymous, electronic access to qualified buy-side initiators and sell-side liquidity providers that trade in large block sizes.
The platform provides a rules-based forum for matching buyers and sellers of block-sized directional option and volatility/delta-neutral orders.
Ballista says the minority investment will be used to support continued technology innovation, enhanced client service and a more aggressive sales and marketing effort to further develop its liquidity pool.
As part of the investment, one representative from each of the four new investors will join the company's board.
Robert Newhouse, founder and CEO, Ballista Securities, says: "The investment from such a distinguished and diverse group of industry leaders will provide Ballista a strong base of strategic resources in the quest to become the premier destination for institutional block trading of equity options and volatility."