BBO Trading App

Execution (included with Freeway license)

With the introduction of the NASDAQ Futures exchange, there are now 3 different commodity exchanges that list energy products. These are CME, ICE and now Nasdaq Futures (NFX). The BBO Order Router facilitates trading between these 3 commodity exchanges by allowing the trader to trade, with 1 order, across all 3 different exchanges (or 2 if that’s what they’ve configured). This type of “Sweep” order is typically used in equity markets when traders have an opinion on volatility, allow the trader to take out a significant amount of volume at a certain vol level. When Sweep Orders are placed it’s also possible that the trader can buy or sell vol across a few different strikes.

The user has the ability to setup exchange priorities for each product (Eg. CRUDE) and can also disable an exchange on a per product basis. Users can also select a specific trading account for orders to an exchange per product.

Note that this widget needs Vela Metro v6.1. It is not meant to replace City Market or the Order Viewer, but instead extends its functionality on the back end with smart order placement. For this version, only MARKET and LIMIT orders are supported.