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 âJobsâ will execute trades, dynamically reconfigure themselves based on changing market conditions, and perform market analysis, including historical comparisons and risk monitoring.
âFor the first time, traders have the speed of automated execution, combined with the power of the human decision-making process,â said Hazem Dawani, CEO and co-founder of OptionsCity Software. âFreeway uses the latest technology and architecture to achieve the highest possible throughput and lowest possible latency, along with a fully customizable interface.â
Freewayâs key benefits:
â¢ High performance: Freewayâs ultra-low latency and micro-second execution enable traders to monitor trades in real time and quickly react to changing market conditions. â¢ 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.
â¢ 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 âJobs,â based on customized algorithms. Traders are able to customize their dashboard by adding probes and graphical displays to analyze market information, signal running Jobs real-time and monitor Job performances, bringing to life the power of the human decision-making process and the speed of automated execution.
â¢ Connectivity: Servers collocated next to the exchange matching engines, allowing for direct exchange access across many exchanges.
â¢ Integration: Freeway fully integrates with OptionsCity Metroâs 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 âwhat ifâ scenarios, all on one simple-to-use, intuitive platform. Freeway is the âiTunesâ of Algorithms
Unique to OptionsCity 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.
âRightly so, traders and programmers are protective of their Algo trading strategies,â said Dawani. âThe Algo Store will change the way the Algo process is done; it provides pieces of code for basic trade characteristics, allowing programmers to create new algorithms faster and react more quickly to changing market conditions.â