A trading algorithm (algo)- specifically, a pegging algorithm– that can passively capture price spread by having access to a venue’s price stream (or a franchise liquidity, if a company- through its client price stream) in order to fulfill a trader’s order interest. This algorithm allows a silent, protected execution capitalizing on a franchise liquidity to minimize the market impact of an order.

For urgency, this algorithm allows traders to define the percentage of the desired spread for matching preferences (bid-offer spread: 0%, 10%, 50%, etc.)