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Lehman expands equity trading platform

CBR Staff Writer Published 02 December 2007

Lehman Brothers, an investment bank, has launched Options Work and Pounce, a new algorithmic order execution strategy for the US listed options market.

The new strategy is an extension of LMX (Lehman Model Execution), its global suite of algorithmic order execution strategies, available for both equities and futures. Options Work and Pounce, which leverages the award-winning LMX platform, is designed to provide price improvement. The algorithm manages orders anonymously on behalf of clients and opportunistically reacts to available liquidity, allowing clients to build or reduce positions while minimizing market impact.

Frank Troise, managing director and head of US equities electronic trading products, said: Options trading continues to migrate to electronic venues. We are committed to staying on the forefront of electronic trading by constantly expanding our product offering. Delivery of algorithmic tools that access electronic options liquidity is in direct response to growing client demand for advanced derivatives trading capabilities.

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