Liquidnet has unveiled a new tool designed to improve the workflows associated with the execution of futures rolls.
Named Roll Seeker, the tool will serve as a means of discovering contra end-user liquidity interest and was developed following member requests to leverage Liquidnet’s block trading expertise.
The new tool will facilitate the bilateral negotiation of blocks at mid prices in fixed income and equity index calendar rolls.
Members can access the tool directly from their execution and order management systems or through the Liquidnet desk, which provides automated contingent functionality with the exchange order book.
The product will be available initially for UK and European fixed income and equity index futures, with plans for future expansion already in place.
According to the firm, its experience will help bring greater structure to the bilateral negotiation process, ensuring best execution with minimal information leakage.
“Roll Seeker is an exciting extension of our execution services, bringing efficiency to an area of the market that has often been overlooked, all while strictly respecting our agency model,” said Mike du Plessis, global head of listed derivatives at Liquidnet.
“This means we are unconflicted, seeking to facilitate maximum informational control and choice for our members as they consider their execution methodology in real-time, trade-by-trade.”