are you guys then just selectable as an algo/ATS going through through a broker, i.e, there could be a natural "sweep" (bit like algos covering block interest in some cases)?
Yes. Some brokers are incorporating us into their algo suite, others are offering us as a direct route, and most are doing both.
Do you work with some big broker-dealers on integration?
Yes! We're excited to be launching with many of the household names, and most have plans to connect by early H2. We'll be updating our website with a list of launch partners in the coming weeks as part of our full launch announcement (the HN fam is hearing it first).
I know you started out with equities, but bond portfolio transitions are a much bigger pain - any plans there? Or issuance, i.e., mix of funding instruments in one go?
Getting to this world state is our real passion. Imagine a fund manager running a cross-geography equities and a credit book. Any trade they want to do will involve rates and currency risk on top of the actual delta. We want to make it easy to, say, sell some European debt issuances in euros to fund a US equities position in dollars while re-hedging curve risk, all as part of one atomic and frictionless transaction with a pre-trade known cost basis.
Thank you! I reckon the fully integrated world also will need some sort of "darkness" layer (in parts) to not warp liquidity and quotes too much for the less liquid things - but I can see the tech and algorithms for that being there already , just not used much.
Looking forward to reading the full launch announcement!
Comments
Yes. Some brokers are incorporating us into their algo suite, others are offering us as a direct route, and most are doing both.
Yes! We're excited to be launching with many of the household names, and most have plans to connect by early H2. We'll be updating our website with a list of launch partners in the coming weeks as part of our full launch announcement (the HN fam is hearing it first).
Getting to this world state is our real passion. Imagine a fund manager running a cross-geography equities and a credit book. Any trade they want to do will involve rates and currency risk on top of the actual delta. We want to make it easy to, say, sell some European debt issuances in euros to fund a US equities position in dollars while re-hedging curve risk, all as part of one atomic and frictionless transaction with a pre-trade known cost basis.
Thank you! I reckon the fully integrated world also will need some sort of "darkness" layer (in parts) to not warp liquidity and quotes too much for the less liquid things - but I can see the tech and algorithms for that being there already , just not used much.
Looking forward to reading the full launch announcement!