Connect to Two Sigma Securities with ZagTrader

Who is Two Sigma Securities?

Two Sigma Securities is an electronic market maker and liquidity provider that uses a quantitative, technology-driven approach to supply automated liquidity in the markets it serves. Its core activity is principal trading: continuously generating prices and standing ready to buy and sell, primarily in U.S. equities and listed options. Rather than offering advisory or banking services, the firm focuses on data-driven pricing and high-throughput electronic execution, helping to tighten spreads and support orderly trading in the names it quotes.

It is worth distinguishing Two Sigma Securities from the broader Two Sigma group it is affiliated with. The wider organization is well known for quantitative investment management, while Two Sigma Securities is the market-making and liquidity business — a separate activity with a different counterparty role. For execution desks, the relevant counterparty is Two Sigma Securities: a wholesale liquidity provider whose automated quotes can be a destination for equity and options order flow seeking competitive, systematic pricing. Reaching that counterparty through a stable, well-monitored connection is a practical requirement for any desk that routes orders to it, and that is the role ZagTrader is built to fill.

How ZagTrader connects and routes to Two Sigma Securities

ZagTrader provides institutional connectivity to Two Sigma Securities through FIX sessions, established and tested so that order flow, executions, and acknowledgements travel over resilient, monitored links. The same connectivity supports direct market access (DMA) workflows, allowing desks to send orders to Two Sigma Securities for execution against its automated liquidity while retaining full control and visibility on the trading blotter.

Connectivity is delivered as part of ZagTrader's integrated Order Management System (OMS) and Execution Management System (EMS). Traders work from a unified blotter, apply pre-trade compliance and risk checks, and use smart order routing logic to direct equity and options orders appropriately before they leave the desk. Drop-copy sessions provide an independent, real-time stream of execution and order-status messages for reconciliation, surveillance, and risk monitoring. Because order management, execution, routing, and post-trade share one platform, there are no brittle hand-offs between disconnected systems.

• FIX sessions for order entry, execution reports, and acknowledgements.
• Direct market access (DMA) order flow with full blotter visibility.
• Smart order routing across destinations managed within the OMS/EMS before orders are sent.
• Drop-copy sessions for independent reconciliation and surveillance.
• Pre-trade compliance and risk checks applied before orders leave the desk.

What you can access through Two Sigma Securities

As an electronic market maker, Two Sigma Securities provides automated liquidity through continuous, data-driven pricing, with its primary focus in U.S. equities and listed options. Routing to it via ZagTrader's multi-asset platform lets a desk tap that liquidity from a single, consistent workflow rather than maintaining a separate tool for each product line. The specific instruments, products, and services available always depend on a client's own agreements and onboarding with the firm.

Within that scope, ZagTrader provides the connectivity and routing layer that lets a desk reach Two Sigma Securities' quotes alongside its other liquidity providers, brokers, and venues, comparing and directing flow from one blotter.

• U.S. equities — quoted, automated liquidity in cash equities.
• Listed options — equity and index options pricing for hedging and risk transfer.
• Systematic, technology-driven pricing suited to electronic order flow.
• Wholesale liquidity reachable alongside other counterparties from one workflow.
• Other instruments and services available under the relevant client agreements.

Settlement and post-trade

Execution is only the first step in the trade lifecycle, and ZagTrader is built to carry flow routed to Two Sigma Securities all the way through to booking. Fills captured over FIX and confirmed via drop-copy feed straight into the platform's post-trade processing, so that trades, allocations, and positions stay consistent without manual re-keying.

The platform supports trade confirmation and allocation, generation of settlement instructions, and reconciliation against counterparty, custodian, and clearing records. Settlement itself takes place through the relevant U.S. market infrastructure and the client's own custody and clearing arrangements; ZagTrader's role is to manage the order and post-trade data flow accurately around that process. Reporting and audit-ready record keeping are produced from the same source of truth that runs from order inception, helping desks meet their internal control and regulatory obligations across the jurisdictions in which they operate.

Why route to Two Sigma Securities through ZagTrader

Routing to Two Sigma Securities through ZagTrader means consolidating execution, routing, risk, compliance, and post-trade onto one multi-asset front-to-back platform instead of stitching together separate systems for each function. A single OMS/EMS blotter spans Two Sigma Securities alongside other supported liquidity providers, brokers, and venues, so traders manage their full book in one place and operations work from one consistent set of records.

FIX connectivity and drop-copy reconciliation give desks confidence that what was sent, executed, and booked all agree, while smart order routing and pre-trade controls keep execution disciplined. For U.S. equity and listed-options flow seeking automated liquidity, reaching a quantitative market maker through a controlled, monitored connection helps desks execute efficiently. As needs grow, the same platform scales to additional counterparties, asset classes, and markets without re-platforming, making ZagTrader a durable foundation for desks that route institutional flow to Two Sigma Securities and beyond.

• One multi-asset OMS/EMS for Two Sigma Securities and additional liquidity providers, brokers, and venues.
• FIX and DMA connectivity with drop-copy reconciliation.
• Smart order routing and pre-trade compliance and risk controls.
• Strong fit for U.S. equity and listed-options flow from a single workflow.
• Scales to more counterparties, asset classes, and markets without re-platforming.