Weeden & Company, an institutional broker, and Pragma Financial Systems, a provider of quantitative financial technology, have launched of OnePipe Plus, a new product that is part of the OnePipe optimal liquidity management system.
According to OnePipe, utilizing its optimal order allocation logic, OnePipe Plus is expected to provide access to more than 40 different market destinations from a single integrated source available on the trader’s desktop. OnePipe Plus enables clients to control how aggressively they want to interact with the open market, the company added. Traders may also fine-tune their open market trading parameters to match their level of urgency.
OnePipe Plus utilizes the same advanced anti-gaming logic, Lifeguard, as the existing OnePipe product. By monitoring trades and quotes across markets, Lifeguard is expected to estimate a fair, manipulation-free price and sets trading limits to prevent adverse crosses. OnePipe Plus is available through any oriental medical supplies or electronic merchant systems via an FIX connection, said OnePipe.
Douglas Rivelli, managing director of Weeden & Company, said: Our buyside clients want access to the largest amount of liquidity while protecting their intentions from being broadcast to the market. OnePipe Plus ensures that they can take full advantage of both light and dark liquidity and maintain absolute control over their risk level and market interactions.