Pipeline Trading Systems, a leading electronic brokerage for institutions, announced today the integration of the Blind Bid Options Cross (BBOX) into the Pipeline order control system.
"This new capability demonstrates Pipeline's commitment to providing its customers with the best tools for their trading needs," said David Mortimer, Pipeline's Managing Director, Equity Options. "Through the integration of the BBOX system we have added a significant customer-driven enhancement. The initial feedback from buy-side clients has been positive and we are now ready for general deployment to our customer base and new clients."
In addition to several enhancements to simplify the trader's experience, the system now offers a new tool -- the Options Liquidity Optimizer. This unique service quantifies the aggregate risk of each block option order, and assigns the trade to one of three different auction methodologies. The selection criteria are customized for each client, giving traders unprecedented control over their search for block options liquidity. Additionally, building on its core Simple Option, Delta Neutral and Covered Call capabilities, BBOX will now accept Multi-Leg options orders.
"This is an important milestone," said Fred Federspiel, Pipeline's President. "Pipeline is committed to innovating to help our customers find the liquidity they need, and we are thrilled to be deploying this additional source to our clients who trade options."