Apex’s CODA launches intraday auction trading tool that prioritizes liquidity over speed
“In the US equity markets today, speed is everything. The first one to the liquidity wins, and everyone else gets in line. The stock market was never supposed to be like this”.
CODA Markets, an Apex Fintech Solutions company focused on alternative equity trading systems, has launched an intraday auction trading tool enabling a single order to trade with multiple counterparties.
Apex CODA Fuse is being marketed as an on-demand auction product combining algorithmic trading with efficient liquidity capable of transforming daily life for institutional investors in U.S. equity markets.
“No more disguising orders, no more waiting in line to trade one at a time, no more concentrating your volume to the beginning and end of the day (aka the “liquidity smile”)”, said the announcement, pointing to the tool which prioritizes liquidity over speed by enabling a single order to trade simultaneously with multiple counterparties.
Apex CODA Fuse puts an end to obsession over speed. Liquidity rules
Bill Capuzzi, CEO at Apex Fintech Solutions, said: “In the US equity markets today, speed is everything. The first one to the liquidity wins, and everyone else gets in line. The stock market was never supposed to be like this. And now Apex CODA Fuse puts an end to that.”
Don Ross, Head of Institutional & Trading at Apex Fintech Solutions, commented: “In a landscape that includes a variety of bilateral and sequential equity marketplaces, CODA Markets has differentiated itself by delivering a more fair and efficient market where your trading success is not governed by the speed of your technology. And now Apex CODA Fuse takes this approach to the next level.”
Below, a list of key benefits that CODA’s Fuse aims to provide to investors:
● Enhances liquidity and price discovery by helping to bring a fragmented market together to find the right price based on market supply and demand, supporting lower market impact costs.
● Enhances productivity: Know in milliseconds whether liquidity was found.
● Executes more of an institutional order with lower market impact.
● Trade with multiple participants simultaneously:
○ Neutralizes advantages of speed.
○ Eliminates need for serial, bi-lateral trades at multiple venues.
○ Minimizes information leakage and opportunity costs.
The on-demand auction-based alternative trading system optimizes liquidity aggregation for market participants and helps consolidate a fragmented market by bringing buyers and sellers together at a single point in time to execute at a price determined by supply and demand, rather than speed of the fastest participant.
CODA Markets is a registered broker-dealer, member FINRA and SIPC, and wholly owned by Apex Fintech Solutions, LLC.