Execution Solutions

WHAT

CUTTONE & COMPANY OFFERS

Electronic Direct Market Access

Custom Configured Routing Solutions

The firm has built and operates a uniquely configured digital infrastructure. We offer our clients access to the following destinations via our 15c-3-5 complaint Market Access Gateways:

Equity Routing Statistics

5 Exchange Memberships

3 ATS Subscriptions

15 Domestic/International Broker Relationships

4 Single Point Dealers/Internalizers

10+ Interdealer Desks

150+ Algorithms/Routes

Option Routing Statistics

4 Low Touch Option Brokers

2 High Touch Option Brokers

Fixed Income Statistics

1 Exchange Membership

Order Management System Statistics

7 Order Management Systems

Risk Gateway Statistics

4 15c3-5 compliant systems

CUTTONE ALGORITHMIC TRADING STRATEGIES

Algorithmic trading programs are essential to any equity execution strategy. Exceptional algorithms not only need to execute well against the market, but must also be reliable in the performance against the objective. Working in tandem with an established provider, Cuttone & Company has developed a suite of algorithms which are configurable in real-time, integrate our access to unique NYSE order types, meet the necessary trading criteria and compliment any equity execution strategy. Rounding out the offering are best execution and performance reports which provide full transparency in strategy visualization, venue performance, benchmark performance, and trade expense.

DISCRETIONARY ORDER

This order type, unique to the NYSE and only available to NYSE members, allows a customer to send a market order to Cuttone and Company and have it represented electronically through the NYSE Discretionary Order type. This strategy, used mostly for market closing trades and only available for securities where NYSE is the primary listing market, allows the order to receive the closing print price, and retain the right to cancel the order up until 3:59:50. Additionally, if the stock closes at a D Order’s limit price; the order is represented on parity and will receive an equal match with other market participants.

ELECTRONIC TRADING

Cuttone & Company stands at the forefront of electronic algorithmic trading for institutional clients with its expertise in trading systems, and its deep knowledge and experience in order routing. We work closely with our electronic clients to recommend the most appropriate trading platform to maximize their work flow while minimizing expense. Cuttone & Company maintains relationships with a wide variety of providers to ensure the most optimal fit according to client needs.

Additionally, once a platform has been selected, we work closely to advise on the best order routing method for the U.S. and global markets to satisfy “best execution”. Given the fragmented and complicated execution environment in today’s market, exceptional order routing schemes are critical to a firm’s trading success.

Currently, Cuttone offers its clients access to the REDI and OMEX trading platforms while others are continually under review.

INSTITUTIONAL SALES TRADING

Cuttone & Company is an institutional trading firm with its headquarters and primary base of operations on the trading floor of the New York Stock Exchange. With our team of highly experienced sales traders, Cuttone delivers high quality execution for our clients by providing access to most major global markets; enhanced by the trading and pricing advantages of the New York Stock Exchange given only to floor brokers at the point-of-sale.

Cuttone’s core competencies reside in trading Risk Arbitrage, Convertible Arbitrage, Pairs and Options. However, the entire sales team is well versed in handling all institutional order situations – from the very simple, to complex multi-legged trades across an issuer’s capital structure.

The only motivation for Cuttone sales traders is to execute the order at the best possible price, according to the client’s wishes, while strictly maintaining the client’s anonymity.

INSTITUTIONAL OPTIONS EXECUTION

Cuttone & Company offers options execution and structure advice via a traditional sales desk, DMA routes, and smart order routers. Cuttone’s routing network and capabilities provide access to the liquidity of the major options exchanges, and top market makers in milliseconds by a single keystroke from the OMS or EMS.

e-QUOTE PARITY

Routing to the NYSE through Cuttone’s e-Quote route, gives our clients access to the unique e-Quote order type only available to NYSE members when executing trading strategies on the NYSE in tapes A, B, and C. Parity allows traders to equally access real-time liquidity along with other market participants, bypassing the lengthy queue that often forms on the limit order book from other routes outside of the NYSE. Customers sit alongside the bid or offer, which can greatly increase the opportunity to receive a fill on their order.