Super X applies a quantitative approach which allows clients to manage their access to dark liquidity using Deutsche Bank’s real-time analytics. The strategy uses logic designed to dynamically avoid adverse selection while minimizing the trade footprint. Super X balances order urgency and price on a pool by pool basis and provides clients with thorough post trade performance metrics.
All Deutsche Bank’s algorithms, including Super X, are fully integrated with Deutsche Bank’s ultra-fast smart order router, which adapts the execution of trades to all available dark and displayed venues.
Alex Paley, global head of algorithmic development at Deutsche Bank, said: “Dark pools fundamentally offer a trade-off between quality and quantity of execution which can vary by venue, capitalization and volatility regime. Super X solves this challenge by accepting client preferences to balance liquidity with impact through the use of dynamic models of individual pool behavior and stock specific price levels.”
Jose Marques, global head of equity electronic trading at Deutsche Bank, said: “Super X moves well beyond simple dark pool aggregation or naive heat map based routing strategies. With Super X, institutional traders have a truly innovative tool for maximizing the efficient use of dark liquidity irrespective of the ultimate counterparty.”
