US trading and clearing technology vendor onExchange has teamed up derivatives software firm Future Dynamics to launch LINQX, an order routing platform that provides best execution for single stock futures.
LINQX will be marketed to firms seeking to expand single stock futures volumes, especially those with prime brokerage operations handling block trades and undirected equity order flow.
OnExchange says the platform integrates its trade matching engine with Future Dynamics' electronic routing and exchange user interface, enabling firms to facilitate best execution, price improvement, liquidity enhancement and offset for their customers.
The application facilitates price improvement and liquidity enhancement by dealers and will also capture regulatory reporting data.
Steve Grob, CEO, Future Dynamics, says: "This system will provide best execution functionality for these products (securities futures), including greater flexibility to offset existing positions."