PDQ Debuts Algos for Manual Traders

PDQ alternative trading system (ATS) has introduced AlgoSuite, a suite of algorithmic order types for the manual trader.

Manual traders can receive the benefit of co-located algorithmic execution for their orders without any requisite infrastructure or networking costs. These conditional order types can be sent from any front-end connected to the PDQ ATS.

"PDQ's AlgoSuite is a quantum leap in technology and access for today's manual trader," says Ed O'Malley, president of PDQ ATS. "By using these algorithmic order types they have the ability to significantly increase their profit margin, as access to co-location services provide better fills and a higher likelihood of accessing rebates."

PDQ's flagship algorithmic order type, AlgoWork, is designed to attain the best price at the National Best Bid and Offer (NBBO). AlgoWork starts by posting the order on the bid or offer and then uses algorithmic intelligence to identify the ideal time to aggressively cross the market.

AlgoStop is designed to be placed as an intelligent stop loss order, covering positions in a manner that will prevent stop losses from being executed until necessary.

AlgoMid maximizes queue position on midpoint orders by leveraging low-latency infrastructure to place orders at the earliest possible opportunity.