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Fundamentals

Hedge-fund style pods running longer-term, thesis-driven strategies.

Eight hedge-fund style pods run any longer-term strategy they like across the exchange's assets, sized large enough that they need the Execution Arm to fill them.

Fundamentals pods take larger, longer-term positions than the rest of the exchange. They have full freedom of strategy across the tradable assets, with options off limits.

Because their orders are too large to drop directly on the order book, every Fundamentals trade is routed through the Execution Arm. A pod asks every execution desk for a market simultaneously, the winner provides the price, and the executor is left holding the position to unwind.