CHICAGO, Sept. 19, 2011 /PRNewswire/ -- OptionsCity Software Inc., a provider of end-to-end electronic trading software, today announced Freeway, a server-based, multi-asset platform for algorithmic trading strategies.
With Freeway, traders now can customize algorithms (called Jobs) in either Java or Scala code. These "Jobs" will execute trades, dynamically reconfigure themselves based on changing market conditions, and perform market analysis, including historical comparisons and risk monitoring.
"For the first time, traders have the speed of automated execution, combined with the power of the human decision-making process," said Hazem Dawani, CEO and co-founder of OptionsCity Software. "Freeway uses the latest technology and architecture to achieve the highest possible throughput and lowest possible latency, along with a fully customizable interface."
Freeway's key benefits:
- High performance: Freeway's ultra-low latency and micro-second execution enable traders to monitor trades in real time and quickly react to changing market conditions.
- Environment: Freeway offers traders and developers a complete environment to easily and quickly build, test and simulate, deploy, and execute algorithms. Using a simple API for algorithmic development, developers and traders can customize algorithms (called Jobs) in either Java or Scala code. These "Jobs" will execute trades, dynamically reconfigure themselves based on changing market conditions, and perform market analysis, including historical comparisons and risk monitoring.
- Intuitive Interface: Much like a car dashboard, the easy-to-use interface allows traders to quickly monitor and set limits for which they deploy and control hundreds of custom "Jobs," based on customized algorithms. Traders are able to customize their dashboard by adding probes and graphical displays to view market information, set alerts for certain conditions and monitor their Jobs performances, bringing to life the power of the human decision-making process and the speed of automated execution.
- Connectivity: Servers collocated next to the exchange matching engines, allowing for direct exchange access across many exchanges.
- Integration: Freeway fully integrates with OptionsCity Metro's centralized server-based risk management to monitor the risk associated with Freeway trades. It lays out risk across a span of underlying prices as well as various 'what if' scenarios, all on one simple-to-use, intuitive platform.
The 'iTunes' of Algorithms
Unique to Freeway is The Algo Store, an online algorithm repository. This collaborative environment provides a market for traders to create, purchase and download algorithms, as well as view various algorithm examples. Third-party quantitative analysts are able to use The Algo Store to write and sell algorithms or components to traders around the world.
"Rightly so, traders and programmers are protective of their Algo trading strategies," said Dawani. "The Algo Store will change the way the Algo process is done; it provides pieces of code for basic trade characteristics, allowing computer programmers to create new algorithms faster and react more quickly to changing market conditions."
NOTE: OptionsCity Software will be exhibiting at the FIA Conference October 10 – 12th. To schedule an appointment for a live demonstration, contact firstname.lastname@example.org.
About OptionsCity Software Inc.
OptionsCity Software Inc., founded in 2006, is a Chicago based financial technology company with offices in Chicago and New York. OptionsCity® provides real-time electronic trading solutions to options traders who make markets and trade on the world's leading derivative markets. OptionsCity products are built on power, speed, reliability, and are fully configurable to create a distinctive edge by enabling options traders to have full control over trading, safety, and risk management. OptionsCity is a certified ISV (Independent Software Vendor) on CBOE, CME, CBOT, NYMEX, COMEX, CFE, CBSX, ICE, ISE, NYSE AMEX, NYSE ARCA, BOX, and C2.
This press release contains forward-looking statements with the exception of historical information. The matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
SOURCE OptionsCity Software Inc.