Execution Services

Customizable low latency execution services for complex trading strategies

Order Routing

Volant’s highly customizable, low-latency routing to the CBOE, NASDAQ, MIAX, NYSE, and BOX families of exchanges is available via FIX or third party order management systems. Our services help you maximize rebates, mitigate fees, provide price improvement, and navigate the intricate fee schedules across all exchange venues. We provide:

  • U.S. equity routing
  • Single and multi-leg U.S. listed options routing
  • Wholesale market-maker connectivity
  • DMA / SMART access to all equities and options exchanges
  • Benchmark algorithms for equities and options
  • Dark pool connectivity
  • Option crossing algorithms
  • Custom routing algorithms

Technology

Our advanced client access portal gives real-time visibility into your orders’ lifecycle. Update trading strategies on the fly, and view any of the following from your smartphone, your tablet, or any browser connection:

  • Exchange-level FIX messages
  • Daily risk levels
  • Real-time destination routing decisions for all orders
  • Exchange news and rejection alerts
  • Exchange and make/take fees in real time

Our team of experienced technologists monitors account activity and is always available to assist you.

A screencap of the Order Monitor page, used to track order status and completions.

Compliance & Risk

We provide pre-trade risk management to all clients, with 15c3-5 checks for the account, trader, destination and firm. Additionally, depending on the product, we have configurable Volant-specific checks for enhanced monitoring.

Reporting

Volant offers a full suite of client reporting solutions to seamlessly integrate into client back office processes. Reporting solutions are available on a personalized basis and include:

SOD Files

SOD Positions
Start of day positions for each client account delivered to either the client’s proprietary or third party trading platform.

SOD Buying Power/Margin
Account buying power or margin for each client account.

Easy to Borrow (ETB) lists
ETB lists determine which securities are easy to borrow for shorting in client accounts.

Locate lists
Lists of securities that have been pre-located by the client for their accounts.

Compliance Files

CAT (Consolidated Audit Trail) Reporting
Volant is fully certified for CAT reporting and can generate CAT reports and submit on behalf of clients.

OATS (Order Audit Trail System) Reporting
We are fully certified for FINRA OATS reporting.

SEC 606 Reporting
Volant supplies 606 data for its clients. Custom data enhancements are available upon request.

Best Execution Reporting
Volant provides historical execution quality reporting with the ability to drill into multiple metrics.

EOD Files

Daily Trade Report
A nightly trade blotter that includes all executed trades and associated details.

Daily Order Life Cycle Report
Timestamped details of all order activity, including when orders are sent, confirmed, executed, cancelled, and rejected.

EOD Positions
A position report showing all ending positions for each client account including account, quantity, and price.

Fee Files
A daily trade blotter that includes all executed trades and associated fees, rebates, and PFOF.