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CHICAGO & NEW YORK, May 24, 2017 -- Wolverine Execution Services (WEX), a leading provider of premier technology and execution services to Institutional clients, announced today the launch of “Request For Quote” (RFQ). This new functionality, within the WEX Trading Platform (WTP), will provide a simple and fully electronic workflow, which will mirror the traditional high touch trading. Only available in the WTP, RFQ allows the user to request option quotes for single or multi leg spreads and quickly select one or many liquidity providers to furnish a single or two sided market. Once the request is made, the liquidity provider is immediately notified and can respond with a quote. The firm who responds with the best quote may receive a systematized order from the client allowing them to trade the order using WTP.
“Acknowledging our client feedback, WEX has created the first version of our RFQ offering as a method to bridge the gap between voice and electronic trading,” said Joseph Sacchetti, Partner at Wolverine Execution Services. “Clients wanted a compliant, electronic audit trail from the initiation of the quote to the final execution in an electronic format that would emulate their current voice quoting/trading experience. This will allow liquidity providers to enhance their high touch service, while still providing the full transparency that their clients demand, all within WTP.“
Some of the RFQs key features and benefits include:
- Access multiple liquidity sources and providers
- A transparent electronic audit trail in one system
- View market data alongside the RFQ
- Liquidity provider can trade client’s order within WTP
About WEX
Wolverine Execution Services, LLC (WEX) is an independent broker-dealer specializing in the execution of equities, options and futures for institutional investors. WEX offers clients multiple venues for execution including a proprietary electronic trading platform, algorithms, direct floor access, and an agency brokerage desk. Leveraging expertise in trading technology, and risk management, WEX provides clients with anonymity, superior execution and order management in all asset classes, delivering exceptional solutions for both technical and institutional trading styles.
For more information visit www.tradewex.com.
Options involve risk and are not suitable for all investors. Prior to buying or selling an option, each customer must review a copy of the Characteristics and Risks of Standardized Options (ODD). This document is available on the OCC’s (theocc.com) website. This communication is intended for institutional investor use only.
Media Contact: Amber Bell Office: 312.884.3442 Cell: 708-497-0980 [email protected]
