Products:
Archangel™ Blind Bid Cross™
Archangel™ anonymously matches Buyers and Sellers over its proprietary electronic network. As the listed equity options market becomes more electronic and liquidity more fragmented, Archangel™ can improve our clients' execution performance as their search for liquidity becomes harder.
Benefits to asset managers include reducing the market impact associated with large orders and providing a mechanism to work their orders without relying on the OTC market. Liquidity providers on the Archangel™ platform gain through direct access to valuable institutional flow and improved risk information associated with large orders.
Archangel™ Benchmark Cross &
GWAP™ (Gamma Weighted Average Price™)
The benchmark cross is a scheduled, daily cross that offers Buyers and Sellers an opportunity to meet and agree to trade at a future, to-be-determined, price
Similar to the way in which VWAP is used in the cash equity markets, the GWAP™ benchmark offers the ability for large and complex orders to be executed at an understandable and defensibly fair price. For more information on the GWAP™ benchmark, click here.
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