The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

DASH Adds Dark Liquidity Aggregation Algo

DASH Financial Technologies continues to innovate with SENSOR Dark, a next-generation dark liquidity aggregation algorithm designed to provide traders with optimal levels of transparency, performance and control as they attempt to minimise footprints when seeking dark liquidity in a fragmented market. The algo sources dark liquidity from significant venues across the US equity market, including independent venues, broker-operated pools, exchange hidden liquidity and conditional pools.

In line with all DASH execution solutions, users can customise their own SENSOR Dark execution strategies to meet specific performance and workflow goals. They can also view, measure, refine and visualise their activity using DASH’s web-delivered transparency solution, DASH360, which provides real-time analytics and visualisation to bring an order to life.

Stino Milito, head of electronic trading sales and co-chief operating officer at DASH, says: “While simple dark aggregation tools have been available in the market for some time, most were developed at a time when the liquidity landscape looked much different than it does today. SENSOR Dark has been designed with the functionality and real-time analytics necessary to effectively source dark liquidity today.”

With SENSOR Dark, traders can use a data-driven approach to customise routing selection by liquidity, block execution, price reversion/stability or any custom measurement; benefit from ‘block react’, a workflow solution that enables reaction to block execution with immediate and dynamic reallocation functionality; add ‘alpha seek’, performance enhancing workflow that dynamically changes venue selections available to take advantage when a symbol is outperforming versus the arrival price; define minimum fill size on a per-order and venue-by-venue basis, as well as set a minimum first fill to ensure a minimum-size dark print at the outset of the order; and have price flexibility by sourcing liquidity anywhere within the National Best Bid and Offer, including the midpoint or far touch, the offer when buying or the bid when selling.

Related content

WEBINAR

Recorded Webinar: Managing market data feeds in the post MiFID II world

Don’t miss this opportunity to view the recording of this recently held webinar. The aim of Markets in Financial Instruments Directive II (MiFID II) to make market data more accessible requires market data providers to offer unbundled pre- and post-trade market data feeds that can be delivered as direct feeds or part of a consolidated...

BLOG

IPSX Creates Integrated Technology Framework Ahead of First Admission

UK-based IPSX, which describes itself as the world’s first regulated stock exchange dedicated to real estate assets, has pulled together an integrated technology environment and a set of standardised data workflows ahead of its first ‘Intention to Float’ (ITF) on its IPSX Wholesale market, scheduled for next month. IPSX has been working with a plethora...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that brings together an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...