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Program Trading Firms and NASDAQ Market Makers

Program Trading Firms

Program Trading averages more than 50% of the volume every day and on some days it runs a lot lot more.  During expiration week in June it runs over 90% of the volume.  If you are trading stocks and index futures and options it is mandatory for you to know program trading and the premium execution levels for buy and sell programs.   And you must know exactly who is doing the program trading, exactly what time they are doing it, and with which stocks.

In order to help you learn more about that, we've listed the top program trading firms below.  We've also included their four letter Market Maker Symbol for making markets on Level III on the NASDAQ system.  Please do not confuse a Market Maker Symbol with a corporation's stock quotation symbol.  For example, the stock quotation symbol SUSQ is for Susquehanna Bancshares, Inc. and they are not market makers or program traders.

If you are trading stocks on NASDAQ Level II you need to know which NASDAQ market makers you should be watching very closely.  Especially when you see the premium move a lot.  We pay special attention to the NASDAQ market makers in red.  If you would like to know why, then contact us and we will answer you promptly.


Goldman Sachs & Co.


Merrill Lynch


Latour Trading, LLC


Banc of America Securities

SGAS SG Americas Securities, LLC MSCO Morgan Stanley & Co. Inc.
BCAP Barclays Capital, Inc DBAB Deutsche Bank Securities, Inc.
IMCC IMC Chicago, LLC JPMS JP Morgan Securities, LLC
FBCO Credit Suisse Securities, LLC SBSH Citigroup Global Markets, Inc.


UBS Securities, LLC

BNPS BNP Paribas Securities Corp.


Wedbush Securities

INCA Instinet, LLC
RBCD RBC Capital Markets, LLC HSBC HSBC Securities


Commerzbank Capital, Inc.


Wells Fargo Securities

NMRA Nomura Securities, Inc.


Jefferies Execution Services

CUGS Cuttone & Co. Inc. SUSQ SIG Brokerage LP
IBKR Interactive Brokers CIBC CIBC World Markets Corp.
ABNA ABN AMRO Clearing Chicago LYON Calyon Securities, Inc.


Apex Clearing Solutions LLC.


BNY Convergex Execution

MLEN Millenco, LLC


Weeden & Company


WG Trading

BERN Sanford C. Bernstein & Co., LLC
MLSI Schon EX LLC GUZM Guzman & Company
TWPL Thomas Weisel Partners


Electronic Brokerage, LLC

OCON O'Conner & Company GETS Getco Securities, LLC

Now you know who is doing all of this program trading.  But in order to find out at exactly what time they are doing it, you will have to do a lot of work.  For most traders, it is a lot easier to just buy our Program Trading Research.   And if you want to know which stocks that they are using you will have to have a ton of computer equipment and software and good super fast data feeds and do a lot of research and study.  If you would like to know how we do it, then use the contact us link below and we will call you with the URL's for some additional private links about that.  If you would like to know which stocks they have been using lately, simply contact us.

Additional information about which stocks are being bought and sold and which algorithm is set for high frequency trading, is available by subscribing to our Program Trading Daily ReportIf you would like to subscribe then click here.

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