Automated Market Makers & Proprietary Trading Desks

PDQ ATS empowers Liquidity Providers (“LP”) to expand their trading models by not anticipating, but rather responding to contra side order flow. By serving as a response mechanism for LPs, PDQ ATS creates larger markets with inherently lower adverse risk for the LP.

PDQ receives orders from liquidity seeking (“LS”) firms (i.e., institutional, agency, retail and block trading desks) that are paused for up to 20 milliseconds as a Request-for-Trade (“RFT”) notification is sent to all LP algorithms simultaneously. The LP algorithms respond with contra side liquidity and the orders are matched on a “first-to-respond first-to-match” basis or via our market first, groundbreaking auction model.

Current matching platforms (Exchanges, ECNs or Dark Pools) provide a vehicle to display (or hide) resting bids and offers. These venues may also advertise and expose customer orders by sending IOIs out to other market participants. PDQ changes the dynamics of the existing marketplace by allowing an electronic algorithmic crowd to “spawn” liquidity, both anonymously and confidentially with its RFT process.

Any firm interested in becoming a PDQ Liquidity Provider can access the appropriate subscriber documentation at the links below:-

PDQ Liquidity Provider Agreement 
PDQ Liquidity Provider Interface Specification 
PDQ Subscriber Information Request
Attachment 1
Uniform Service Bureau
Form 9B

 

Submit all documentation to:

PDQ ATS Inc.
2624 Patriot Blvd.
Glenview, IL 60026
Attn: Subscriber Services
Or Fax to 224-521-2720

For further details on becoming a Liquidity Provider, Sponsored Participant or Sponsoring Subscriber please contact Subscriberservices@pdqats.com or call 224-521-2498.