algorithms

Wolverine Execution Services (WEX) algorithms provide simple, yet extremely effective ways to source liquidity in options, equities, and futures. With advanced proprietary logic, WEX algorithms can improve your execution quality and meet your trading objectives without requiring you to make complex choices or set a variety of parameters for each order. WEX algorithms are dynamic tools designed to complement a variety of trading styles and are effective in varying market conditions.

Algorithm Description Asset Class
Best-X® Seeks to minimize market impact and price slippage. Best-X removes dependence on extraneous parameters and settings, relying instead on a proprietary predictive model that works the order in an effort to obtain the best possible price.
  • Model continuously evaluates relevant market centers to seek the best possible execution opportunities.
  • Execution duration is based upon the real time liquidity and market activity of the security.
  • Equities
  • Options
  • -Single
  • -Complex
  • Futures
Sweep-X Meets the need for immediacy in order execution by simultaneously accessing all available liquidity.
  • Orders are routed to the exchange(s) with the highest probability of execution.
  • Aggressively seeks liquidity for marketable orders to quickly capture displayed and hidden liquidity.
  • Constantly monitors non-marketable orders to source available liquidity.
  • Equities
  • Options
  • -Single
  • -Complex
  • Futures
VOL Works an order based on a specified volatility level.
  • User can set underlying reference price or options reference price to determine vol level.
  • Aggression level determined by the user.
  • Options
  • -Single
TWAP Executes by splitting a large order into smaller equal-sized parts or slices that are spread over the selected time duration.
  • Utilizes proprietary logic to work the order with minimal market impact and slippage.
  • Time parameters can be set from 1 minute to the entire trading day.
  • Equities
  • Options
  • -Single
  • -Complex
  • Futures
VWAP Executes trades along a historical volume distribution within a specified time period.
  • Utilizes proprietary logic to work the order with minimal market impact and slippage.
  • Time parameters can be set from 1 minute to the entire trading day.
  • Equities
  • Futures
Portfolio-X Manages executions for basket or index components using Best-X logic and historical volume distributions. When executing baskets this approach strives to keep neutrality throughout the execution.
  • Utilizes proprietary logic to work the order with minimal market impact and slippage.
  • Time parameters can be set to as little as 1 minutes or the entire trading day.
  • Equities