US-based OptionsXpress Holdings, an online broker involved in equity-options and futures, has selected On Point Executions, an agency brokerage firm that provides smart-order routing solutions, as one of its execution destinations.
OptionsXpress’ smart order routing technology provides the option to route customers’ order flow to Sting, an equity-options order routing facility of On Point. Sting offers quick reference to all liquidity at a given price point, through its direct connections with exchanges.
Peter Bottini, executive vice president of trading and customer services at OptionsXpress, said: We have been impressed with the quality of execution On Point delivers and the level of customer service it provides. We are pleased to complement our own smart order routing technology with this service.
Paul Carrozzo, co-principal at On Point Executions, said: OptionsXpress’ use of On Point Executions is consistent with its ongoing commitment to offer their clients top level execution in the options market. Relying only on the current options linkage system to receive price improvement or added liquidity causes latency and missed opportunities for investors. With quote traffic at an all-time high and only expected to increase, investors and trading desks are expecting and deserve better execution.