October 2012
Intermediate to advanced
155 pages
4h 32m
English
book
The Prop Trader's Chronicles: Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets
by Francis James Chan
Content preview from The Prop Trader's Chronicles: Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets
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CREDIT SUISSE CROSS FINDER
One of the most popular dark palgorithmic routes available on many direct access trading platforms is Cross Finder by Credit Suisse Advanced Execution Services, also known as X-Finder on some trading software.
Orders sent to Cross Finder should include a limit price, which may or may not be outside of the NBBO. The main function of Cross Finder is to seek dark liquidity at all prices up to your limit price by scanning Credit Suisse's network of independent as well as broker-owned dark liquidity venues. Cross Finder orders can also be pegged to the midpoint of the NBBO so that orders will only be matched (and executed) at the midpoint price or better.
An alternate order type, called Aggressive Cross Finder (also known as AX-Finder or Cross Finder +) is available; it has the same algorithm except it also scans the publicly displayed venues in addition to the dark liquidity venues to execute your order. Like the normal Cross Finder, it only matches at your specified limit price or better.
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