NEW YORK, NY, February 27, 2002- EGAR Technology, a leading provider of trading and risk management systems and custom applications, today announced the release of its real-time equity options trading and risk management solution for market makers. Based on EGAR’s ETS platform (Equity Trading System), this solution incorporates many functionality requirements specific to market makers that have never before been addressed by existing systems. The resulting solution has been greeted with overwhelming interest and EGAR is close to completing contract negotiations with one of the largest market makers in New York and another based in Philadelphia. The contracts will be announced shortly.
EGAR is the first company to provide a complete solution that addresses the changing needs of market makers as they move upstairs to an electronic trading environment, which requires more sophisticated systems for risk analysis and reporting. The ETS solution for market makers will enable them to lower costs, make better markets, and improve trading decisions while managing risk more efficiently.
Unique to EGAR is its revolutionary pricing strategy. EGAR is the only financial technology firm to offer a system as robust as ETS on either a subscription or license basis. The subscription option allows customers to reduce the costs of purchasing, owning and operating such sophisticated systems, making it more accessible to market makers of all sizes.
The newly released ETS includes many features important to the market maker that are not available in current systems. A full theoretical value engine, a sophisticated volatility manager, a correlation-based analyzer for both delta and vega hedging, and ‘upstairs’ and handheld support are some examples. In addition, the ETS platform provides everything from trade entry and real-time market view screens, to sophisticated risk analysis, to decision support tools, all supported by EGAR’s proprietary implied volatility data. As market makers needs expand, ETS’s extendibility, flexibility, and deep functionality allow it to be easily customized to meet evolving requirements.
Ravi Jain, CEO of EGAR Technology, said, "The launch of the new ETS system for market-makers demonstrates EGAR’s adaptability to specific markets. Rather than use our existing systems as a single solution for all markets, we use their flexibility and our unparalleled software development resources to provide tailored solutions." He adds, "With the imminent addition of these two large market-makers to EGAR’s client list, EGAR is reaffirming its position as one of the most sought-after financial technology firms."
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