Expense Management

Expense Management

May 11, 2012

Wolverine Execution Services' Multi-Asset Spread Trading Tool Provides Advanced Automation, Efficiencies

Wolverine Execution Services (WEX) recently announced the introduction of WEX Spread Agent. The Spread Agent is an advanced trading applet that looks at spread and pairs trading. Spread Agent is currently available only on the WEX Trading Platform (WTP) and looks to develop and enhance the functionality in Spread Trader, the current WTP applet.

Wolverine Execution Services is a major source of premier technology and execution services. The company has launched Spread Agent in order to enable traders to continuously get in and out of multiple spreads, equipping them with a reliable tool to manage and operate a number of spread scenarios for options, futures and equities.

"As a leading trading technology provider, we have a diverse and sophisticated client base that requires a platform that can evolve with the changing needs of the marketplace,” said Jim Michuda, CEO at WEX. “As our client base continues to grow beyond those largely focused on options, we have seen more demand for new functionality and better, more streamlined ways to trade across asset classes. WEX has been focused on developing time- and money-saving tools like Spread Agent in response."

The new Spread Agent comes with a number of enhancements that assist in the management of multiple spreads. Some of these new features include Slip Adjustment features that will proactively attempt to rectify leg slippage; Detailed spread information, providing extensive information on spread entrance and egress points, as well as a relevant position management fields; synthetically makes markets on spreads in any two instruments across any asset class on one ticket; safeguards against exceeding user-defined position limits by continually working both the initial spread and reverse spread simultaneously; and the ability to easily clean up open positions or unwind executed spreads.

The new Spread Agent operates within the Managed Order Console in WTP. Here you can also find more arbitrage opportunity seeking such as the existing Spread Trader and Volatility Trader.

Edited by Braden Becker

blog comments powered by Disqus

FREE eNewsletter

Financial Technology Industry News