Quantitative Brokers

What Quantitative Brokers does

Quantitative Brokers (QB), founded in 2008 by Dr. Robert Almgren and Christian Hauff, is an independent fintech firm headquartered in New York that provides quantitative execution algorithms and analytics for institutional traders in listed futures, options, US cash treasuries, and foreign exchange markets. Its core product is a suite of seven proprietary execution algorithms — Bolt (arrival price), Strobe (VWAP/TWAP), Legger (multi-leg spreads), Closer (settlement), Octane (liquidity seeking), The Roll (calendar rolls), and Striker (options on futures) — supported by a Smart Order Router, Transaction Cost Analytics, Liquidity Tracker, Roll Tracker, and a Simulator environment. The technology is grounded in 15+ years of market microstructure research and applies machine learning (neural networks, clustering, Variational Auto Encoders) within its Regime Identifier for market state classification.

QB operates a transaction-fee and institutional subscription model, generating revenue by providing agency execution algorithms to asset managers, hedge funds, pension funds, banks, prop trading firms, commodity trading advisors, and family offices. The firm is broker and front-end neutral, distributing through integrations with 25+ OMS/EMS vendors, 20+ global Futures Commission Merchants, the Bloomberg App Store, and direct FIX connectivity, with global 24-hour support across offices in New York, London, Sydney, and Chennai. Since Deutsche Börse acquired a majority stake in December 2020, QB has accelerated geographic expansion across APAC (ASX, SGX, OSE, BMD, HKEX) and Latin America (B3 Brazil, 2025), extending its execution algorithms to over 130 contracts across 25+ exchanges. The firm is registered with both the CFTC and SEC as an independent introducing broker.

Name

Quantitative Brokers

Legal name

Quantitative Brokers LLC

Website

http://quantitativebrokers.com/

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

Quantitative Brokers is a New York-based fintech, founded in 2008, that provides quantitative execution algorithms and analytics to institutional traders in global futures, options, and US cash treasuries markets. It serves asset managers, hedge funds, pension funds, banks, and prop trading firms through broker-neutral integrations with major OMS/EMS platforms.

Ownership category

akta.pro rank

Product category

Algorithmic Trading Software

NAICS

Commodity Contracts Intermediation (52316), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Listed Derivatives Execution Platforms (Futures/Options) (FSAFANAD)

akta.pro secondary industries

Derivatives & Futures Brokerage (FSAEACAL), Clearing Broker / Carrying Broker (FCM & Clearing) (FSAEACAF), Equity Index & Futures Derivatives (FSACADAF)

Keywords

• Algorithmic execution
• Transaction cost analytics
• Futures trading algorithms
• Smart order routing
• Institutional trading solutions

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Algorithmic Execution Services: QB provides execution algorithms to institutional clients for listed and OTC financial instruments. Revenue appears to be generated through transaction fees or subscription model for algorithm access and analytics services. Services are provided to institutional clients only, with 24-hour support team and global reach.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Quantitative Brokers provides a suite of proprietary quantitative execution algorithms for institutional traders operating in listed futures, options, US cash treasuries, and OTC foreign exchange markets. Its core offering consists of seven execution algorithms (Bolt, Strobe, Legger, Closer, Octane, The Roll, and Striker) supported by smart order routing, transaction cost analytics, regime identification, and real-time simulation tools. Services are delivered via direct integration with major OMS/EMS platforms, FIX connectivity, Bloomberg App Store, and over 20 global FCMs.

Product overview

Quantitative Brokers provides an integrated algorithmic execution and analytics platform designed for institutional traders in futures, options, and fixed income markets. The core offering consists of seven execution algorithms (Bolt, Strobe, Legger, Closer, Octane, The Roll, and Striker) that work across central limit order books and OTC liquidity streams, supported by smart order routing, real-time predictive analytics, and comprehensive transaction cost analysis. The platform integrates with major OMS/EMS systems and clearing brokers globally, supports 25+ global exchanges and 130+ contracts, and is accessible via Bloomberg App Store. Analytics products include TCA, Liquidity Tracker, Roll Tracker, and monthly microstructure reports. A simulator enables strategy testing before deployment.

Differentiator

Problem solved

Functional benefit

Products and services

• Bolt Flagship arrival price algorithm providing optimal execution across wide-ranging market conditions using intelligent arrival price optimization. Designed for institutional clients trading futures, options, US cash treasuries, and FX.
• Strobe TWAP/VWAP strategy enabling traders to execute on schedule and capture spread by following volume-weighted or time-weighted schedules. Targets institutions needing scheduled benchmark execution.
• Legger Multi-leg spread trading algorithm using quantitative techniques to intelligently manage legging risk across synthetic inter-commodity structures. Designed for institutions executing complex spread strategies.
• Closer Settlement-focused algorithm designed to trade optimally into the close, targeting best execution relative to the settlement price. Designed for institutional traders managing benchmark settlement.
• The Roll Calendar roll execution algorithm enabling optimal execution of futures rolls with timing based on volume forecasts and roll cycle analysis. Designed for institutions managing futures roll exposure.
• Octane Liquidity seeking strategy designed to optimally execute when urgent completion is the primary objective, prioritizing speed and fill rate. For institutions needing rapid, high-fill execution.
• Striker Options-on-futures execution algorithm featuring synthetic target pricing, sub-tick trading capability, and fair value targeting using implied pricing and cointegration calculations. For institutions executing options on futures.
• Striker 2.0 Enhanced version of the Striker options-on-futures execution algorithm with synthetic target pricing, enhanced price discovery mechanism, and Fair Value display using cointegration.
• Transaction Cost Analytics (TCA) Pre and post-trade transaction cost analysis providing full transparency, real-time and historical market analysis, execution performance measurement, and regime-aware cost attribution for institutional clients.
• Liquidity Tracker Free web-based open-source tool providing real-time liquidity analysis, book depth visualization, and bid-ask spread monitoring across 20+ contracts on 4 global exchanges.
• Roll Tracker Real-time tracking tool for futures roll activity across multiple asset classes, showing roll progress, open interest distribution, and timing estimates for first intention and first notice days.
• Monthly Market Metrics Report Monthly microstructure analysis report covering interest rate, equity, VIX, energy, agriculture and metal futures with metrics including volatility, liquidity, spread, quote size, and historical comparisons.
• Simulator Real-time simulation environment enabling backtesting and evaluation of algorithmic trading strategies before live deployment. Used by institutional clients for pre-trade strategy testing.

Quantifiable outcome

• On average, QB has saved clients $5.50 per lot on options trades through Striker algorithm enhancements
• +2 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability4 records

Feature12 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• B3 Exchange (Brazil)coreTechnology or Integration · 1 October 2025QB launched its execution algorithms on Brazil's B3 exchange, enabling institutional traders to access QB's trading strategies on B3's futures markets. Marked QB's entry into Latin America with expansion into Brazil-listed derivatives for clients seeking consistent execution across global interest rate products.
• Cboe Volatility Index (VIX)supportingTechnology or Integration · 1 July 2022QB expanded its collaboration with Cboe by adding the widely traded Cboe Volatility Index (VIX) futures contract to QB's Liquidity Tracker open-source analytics tool.
• Hong Kong Exchanges and Clearing Limited (HKEX)coreTechnology or Integration · 1 August 2021QB launched its suite of award-winning trade execution algorithms on HKEX, co-located at HKEX's state-of-the-art data centre. Initially supports derivatives on Hang Seng Index and related products. QB is integrated into HKEX's low-latency co-location ecosystem.
• Colt Technology ServicessupportingTechnology or Integration · 1 August 2021Connectivity technology partner supporting QB's HKEX derivative products in the APAC region. Provides agile, high bandwidth connectivity solutions for QB's algorithmic execution and predictive analytics.
• Bursa Malaysia Derivatives Berhad (BMD)coreTechnology or Integration · 1 May 2021QB launched their suite of award-winning execution algorithms on Bursa Malaysia Derivatives, part of publicly traded Bursa Malaysia Berhad. Algorithms provide strategic trading capabilities for Crude Palm Oil Futures (FCPO) and FTSE Bursa Malaysia Kuala Lumpur Composite Index Futures (FKLI).
• Osaka Exchange (OSE) - Japan Exchange GroupcoreTechnology or Integration · 1 March 2021QB launched its full suite of award-winning execution algorithms on the Osaka Exchange, the derivatives exchange of Japan Exchange Group (JPX). Algorithms are co-located at JPX with low latency speeds feeding predictive analytics. Supports OSE's largest contracts in equity, interest rates and commodity futures.
• Singapore Exchange (SGX)coreTechnology or Integration · 1 January 2020QB started supporting SGX derivatives market in 2020, providing co-located execution algorithms for the exchange as part of APAC expansion strategy.
• Australian Securities Exchange (ASX)coreTechnology or Integration · 1 January 2018QB opened regional office in Sydney in 2018 and launched its services on ASX, marking initial APAC expansion. Provides execution algorithms for Australian futures and derivatives markets.

Scale indicators6 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• BestEx Research: Independent execution algorithms provider offering agency algos across global equities, futures, and options with a research-driven, broker-neutral model; the closest like-for-like competitor to QB in listed derivatives and treasury execution.

Broad incumbents

• Virtu Financial: Large global execution services and market-making firm that offers execution algorithms, analytics, and TCA across asset classes; competes with QB especially in futures and Treasuries but operates at vastly greater scale with proprietary flow.
• FlexTrade Systems: Provider of multi-asset execution management systems (EMS) with embedded algorithmic trading workflows for buy-side and sell-side desks; competes with QB at the EMS/algo integration layer used by institutional execution desks.
• Bloomberg EMSX: Bloomberg's execution management system with built-in and partner algos distributed via the Bloomberg App Store—a direct competitive surface for QB, which itself distributes via the same Bloomberg App Store.
• Portware (FactSet): FactSet-owned execution management platform offering multi-asset agency algorithms, TCA, and workflow automation for institutional trading desks; comparable to QB's buy-side workflow and TCA proposition.
• Tradeweb: Leading electronic trading platform for fixed income, derivatives, and ETFs, with growing execution and analytics capabilities; overlaps with QB in interest-rate futures and treasury execution.
• Charles River Development (State Street): Order management system with extensive multi-asset execution workflows, including algorithmic trading and TCA; competes with QB on the buy-side execution and analytics stack.

Emerging players

• IEX: Exchange and ATS operator that has expanded into agency execution and routing products, with a quality-of-execution focus comparable to QB's research-driven, low-impact execution ethos.
• AlphaGrep: Quantitative trading and execution firm with proprietary algorithms and execution services across listed derivatives globally; comparable as a quant-led execution provider serving institutional clients.
• Liquidnet: Institutional block-trading and execution network with algorithmic trading and TCA services for equities and fixed income; comparable to QB as a workflow, analytics, and execution provider for institutional asset managers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/QuantBrokers
• LinkedInlinkedin.com/company/quantitative-brokers

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Quantitative Brokers