Matrix Executions, a leading provider of advanced options execution solutions, highlights the rapid growth and performance of its Matrix QRX ATS, resulting in substantial price improvement and enhanced execution quality for its Order Flow Provider (OFP) clients trading US listed options.
Matrix QRX ATS, a proprietary electronic trading process and registered options Alternative Trading System (ATS), leverages Matrix’s sophisticated execution algorithms to seamlessly connect OFPs with a rapidly expanding network of Liquidity Providing Organizations (LPOs). This LPO network expansion has increased price improvement opportunities, improved liquidity access, and effectively helps mitigate trading costs.
Key Performance Metrics for Marketable Orders on the Matrix QRX ATS:
- Average Price Improvement: $0.052 per contract
- Market Orders: $0.085 per contract
- Marketable Limit Orders: $0.045 per contract
- Overall Filled E/Q Score: 52.9%
- Market Orders: 47.7%
- Marketable Limit Orders: 54.1%
*Previous data does not guarantee future performance
“We are thrilled to witness the tangible benefits our clients are realizing with the Matrix QRX ATS,” stated Jordan Naylor, CEO of Matrix Executions. “While significant growth potential remains, the quantifiable price improvement and compelling E/Q scores achieved in the initial launch phase highlights the technology’s performance.”
The Matrix QRX ATS allows OFPs, encompassing institutional trading and retail-wholesaler participants, to submit outright and complex orders as blind indications of interest (IOIs) to LPOs for competitive quoting prior to marketplace routing. A two-stage auction approach drives execution opportunities, beginning with competitive quoting in the ATS and culminating in a price improvement auction at multiple exchanges for matched orders. This process, combined with Matrix’s smart routing capabilities and enhanced price discovery algorithm suite, maximizes the potential for optimal executions and adherence to best execution practices.
“The data from our ATS validates the efficacy of our technology and the strength of our liquidity partnerships,” added Joe Corona, Chief Strategy Officer at Matrix. “We are committed to further strengthening these relationships while enhancing our platform’s features to deliver superior value to our clients.”
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