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NEW YORK, Sept. 26, 2016 -- Deep Value is pleased to announce the Floor Close, a new direct market access route to the NYSE that allows desks to participate in the NYSE closing auction closer to the bell than ever before.
The NYSE closing auction is typically the single biggest liquidity event of the day across stock markets worldwide. For virtually every US cash trading desk across the world, Deep Value’s new Floor Close product may open up new trading opportunities and new avenues to shed risk.
Created via partnerships with Floor Brokers, Deep Value’s Floor Close is a genuine technology advance in the state of the art, and is fully-compliant with applicable rules and regulations.
Via this technology breakthrough:
- Desks can reduce overnight risks in many hundreds of names moments before the bell
- Respond faster to closing imbalance feed updates, while being compliant
- Avoid the tracking error of “Target Close” algorithmic trading strategies -- strategies that target the price of the eventual closing print -- and instead simply participate directly in the close
- Buy-side desks can have larger position limits and gross books sizes near the market close
Speaking about the new product, Jason Blatt, Director of Sales said “We are pleased to introduce a product that virtually every institutional cash equities desk that trades in size may find useful.”
Limitations and disclaimers apply, driven by market quality, compliance and other considerations.
For more information on this product, contact your Floor Broker, or Jason Blatt, Director of Sales at (212) 656-5160 or at [email protected]
ABOUT DEEP VALUE:
Deep Value is an innovative firm whose algorithmic trading vehicles offer top-tier performance and contribute material volumes to US equity markets. At its highs, Deep Value has averaged 11% of the overall market in the top 250 NYSE-listed stocks towards the end of each trading day – a critical time for algorithmic trading. The firm’s systems have routinely managed more than 30,000 orders concurrently, making it trusted guardians of customers’ order flow – no matter how large. Since 2010, Deep Value has traded 60B shares and over two trillion dollars in the aggregate in US cash equities.
