Its new offering will allow clients to more effectively trade U.
Morgan Stanley's OSORT optimally routes orders electronic options multiple options market centers, taking into consideration a number of factors such as, among other things, price, available liquidity, speed and execution quality. In addition to its exchange directed order type, MSET is offering its clients two new order types meant to assist them in maintaining anonymity when maneuvering through the marketplace.
The stealth reserve order allows a client to display a portion of the order at a given price and keep the remainder of the order in reserve while OSORT searches for liquidity within electronic options client's specified limits. The stealth hidden order is a fully non-displayed order that can be used by clients to search for liquidity while remaining completely anonymous.
MSET is also offering a new TWAP options algorithm to those clients who want to evenly spread out their options executions over a specified time period. The new functionality includes volatility trading with automated delta adjusted limit price updates, delta neutral trading with an automated cash hedge calculation and execution, and conditional orders based on price stops and liquidity thresholds.
Morgan Stanley clients currently have the ability to route their U. Morgan Stanley NYSE: MS is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more electronic options offices in electronic options countries.
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