Ballista Securities
Alternative trading system for block-sized equity options.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor investor | €0.0 | round | |
| N/A | N/A | Acquisition | |
| Total Funding | 000k | ||
Ballista Securities LLC was a registered broker-dealer that operated an Alternative Trading System (ATS) specializing in executing large, block-sized equity options trades. The company was co-founded in 2007 by Robert Newhouse, who was part of the team that launched the Island ECN. Ballista received approval from the Financial Industry Regulatory Authority (FINRA) as a broker-dealer in August 2008 and commenced live trading on its ATS in October 2008.
The firm's core product, the Ballista ATS, was an electronic platform designed to anonymously match orders for institutional clients, including volatility funds and major trading firms. It focused on complex, multi-leg strategies, directional orders, and volatility trades. The platform's trading model was centered on a patent-pending Reactive Auction Process (RAP), where a trader could submit a large order that would then be broadcast to other participants interested in that specific option or sector. The system supported various execution pathways, including a front-end application and a FIX-based interface for algorithmic trading engines.
In June 2009, Ballista's parent company, Ballista Holdings, secured a minority investment from notable financial institutions including Morgan Stanley, International Securities Exchange, Susquehanna Growth Equity, and Knight Capital Group. On February 25, 2011, the InterContinental Exchange (ICE) announced its acquisition of Ballista Securities. The acquisition was intended to enhance ICE's existing options market, and Ballista was set to operate as a wholly-owned subsidiary. According to FINRA records, the firm's registration was active from August 2008 until April 2014.
Keywords: alternative trading system, equity options, block trading, institutional trading, volatility trading, complex options, electronic trading platform, broker-dealer, FINRA, InterContinentalExchange, delta-neutral, multi-leg strategies, liquidity sourcing, order matching, FIX connectivity, financial technology, capital markets, securities execution