Rival Trader's Auto-Quoting and Electronic Eye functionality allows users to make and take option markets based on parameters they set around theoretical values. Valeroso called the Eye and Auto-Quoter settings adaptive and customizable, allowing the group to vary techniques, move quickly and adjust as necessary, and offering the opportunity to be aggressive or selective in their approach.
Valeroso said Rival Trader's contingent order functionality provides him with a new capability and is especially useful in markets that are not always liquid. Rival also met the need for a strong request-for-quote (RFQ) interface, a key feature for agricultural options, he said.
Rival Systems CEO Robert D'Arco said: "Traders who come from larger firms with proprietary platforms have unique demands and expectations that most off-the-shelf software can't meet. With the launch of Rival Trader last year, traders migrating off proprietary platforms now have access to a system with the speed, functionality, analytics and expert support necessary to fulfill their needs. We're excited for the opportunity to work with Rod and the team at Budo in supporting their trading efforts as we continue to develop new features for our user community."
Rival Trader also has the most robust interface of the third-party systems Valeroso tested. He said: "The others looked like an Excel spreadsheet, rather than providing a full picture of the user's real-time, dynamic profit-and-loss environment. It's critical to see risk in real time, and Rival Trader provides a clear picture of my vegas, delta buckets and full risk inventory. The system also gives me the ability to easily manage the volatility curve across products."
Service was also a key factor in the group's selection of Rival. Valeroso said: "Support has been great – from sitting down with me on site to make sure I was comfortable using the platform, to picking up the phone immediately and answering questions right away, to quickly resolving any issues I've had."
Launched in 2015, Chicago-based Rival Systems (www.rivalsystems.com) empowers professional traders with the technology and resources required to compete in today's markets. Rival provides a comprehensive technology solution, including: Rival Trader, a sophisticated derivatives trading system; Rival API, an algorithmic strategy development framework; Rival Risk, an enterprise risk management tool; and extensive support, training and service. Rival Systems is positioned to become the preeminent provider of comprehensive technology solutions for the trading industry.
Budo Group is a technology-forward, multi-strategy trading firm with a focus on futures options market making and the technology that drives modern day trading. The founding partners have built an entrepreneurial culture for experienced, best in breed individual traders and teams. Budo is a 106J member at the CME, CBOT and NYMEX, and participates extensively in the ICE Markets and global futures markets.
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SOURCE Rival Systems