EMEA AES^® CloseX

Liquidity's new frontier
 

CloseX is a new facility to bring orders together during the closing auction. Unlike "guaranteed" close models, CloseX facilitates executions between counterparty orders. This service also provides access to unique liquidity and the opportunity to reduce signalling.

Any AES strategy that trades into the closing auction can interact in CloseX. Where clients use a Max% Volume constraint, they may choose to show their full size to CloseX as a block, introducing unique liquidity that would not have been available on exchange.