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Spread quoter

There are many variations of spreads, both in terms of the actual legs making up the spread, and how you want to handle those legs. Tbricks by Itiviti’s spread quoter app lets you specify any number of legs, each of which has its own unique settings. The spread quoter app offers highly flexible configuration of how to work, quote and hedge the spread.

Some examples:

  • Should the leg be used for quoting or not? Sometimes you only want to quote a subset of the legs.
  • Do you want to quote one level or multiple levels in the leg?
  • When hedging, do you want to hit the market immediately, improve your hedge price incrementally, or do you want to hedge using another Tbricks app?
  • When hedging, do you want to grab liquidity from down in the order book or using the current BBO?

Thanks to the fact that the legs can be made up of any type of instrument, the spread quoters can be used for such different scenarios as executing a cattle crush spread or arbitrage between class A and class B shares.

In addition, the spread quoter can also be initiated and worked through a ladder interface. This enables you to quickly work with multiple spread quoters for the same app, and (optionally) make sure that they all have the same settings for quoting/hedging. That way, if you realize that market conditions have changed and you want to adjust your hedging in one leg, you can change this setting in the ladder and the change will immediately flow through to all existing spread quoters. Or, if you prefer, you can choose to apply this new setting only to newly created spread quoters.

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