Flextrade Equity Market Making

Market Making Functionality• Quotes multiple levels on a single stock or a basket of stocks

• Can quote multiple levels / scales per stock• For instance

• Fair Quote• Wide Quote• Ultra-Wide Quote

• Quote width definitions are configurable and are defined by the client.

Market Making Functionality• Quote programs can be turned on / off at an individual or

basket of instruments

• Some instruments can have just one quote program while others can have multiple

• Exchange regulatory requirements can be met if a market maker is required to always have quotes in the market. This can be managed by an ultra-wide quote program

Specifying Quote Parameters• These are typically specified using a SOD load file. Can also be

done via API or FIX Protocol based on clients requirements.

• Sample SOD file

• #Symbol, Stock beta, Starting position, Position Average Price, Yesterday Closing Fair Value, Closing Mark, Scalar adjustment, Dependency symbol list, Dependency symbol beta list, Sector/industry, Ultra-wide Quote Width, Wide Quote Width, Tight Quote Width

• IBM, 0.72, 10000, 100.05, 100.02, 100.01,0.95, GLD:SLV, 1.5:0.9,TECHNOLOGY,50,30,10• GE, 0.72, 10000, 100.05, 100.02, 100.01, 0.95, GLD:SLV, 1.5:0.9,TECHNOLOGY,50,30,10

Control from Single Stock Screen

Customizations Available• Client can create their own basket of Equity stocks

• Nature and number of Quote programs are customizable• Single or Multi-level quotes• Quoting size and Prize levels• Cancel-Replace logic

• Front-End look and feel

• Single stock depth of book tickets

• Integration with OMS, Risk and Back-Office systems