"Orc version 5.1 is faster than ever and loaded with new features that will increase productivity for our customers. We are especially excited to introduce a unique capability that enables users to simulate trading using real-time market data", says Joacim Wiklander, Head of Product Development at Orc Software
A highlight of these new features for brokerage and proprietary trading include:
New basket and combo trading functionality
For managing the end of day delta flattening process, you can now swiftly generate an order to flatten the delta residuals in a portfolio with respect to a basket. Orc 5.1 also contains new functionality that makes it easy to reverse a partially-filled basket order. The reverse functionality allows you to delete all orders from the market and, at the same time, send in new orders on the opposite side with volume equal to the filled volume of the component. In this way, you can quickly counter the component's bought/sold.
Enhanced order placing and management
Orc version 5.1 gives you enhanced flexibility and usability when placing orders, using a minimum of mouse-clicks. For example, the ability to clone orders in the transaction list provides a new and quick way of placing new orders. Cloning is not the same as resending: Cloning sends a copy of the order in its current condition, resending resends the original order even if it has been partially filled.
New context menu commands for creating orders directly from a trading window increases the speed and flexibility when placing orders. Also, you can now quickly change sides for an order with a single mouse click at the best price level - useful if the order flow and/or price trend reverses.
By being able to group orders that appear in the transaction list you can consequently take advantage of basket transaction list functions such as simulations, getting the total price in one currency as well as viewing and modifying component orders individually. Additionally, the ability to open a trading window containing all contracts in a given portfolio provides a quick way to overview the portfolio contracts, see where they are traded, and trade the portfolio contracts as required.
Extended volatility management functions
New volatility management features let you compare (and change) the shape of a volatility curve to curves assigned to other expiry dates in the same underlying. By visually placing curves on top of each other provides an excellent overview of the shape of the skew for all expiries and also the possibility to modify the active curve if needed. The overview quickly informs you if there are any trading opportunities in abnormal differences in the skews between expiries. If liquidity is limited in one expiry, you also have the possibility to use the skew of another expiry to estimate the value of the individual options.
Excel in your trading skills
Orc 5.1 also lets you simulate trading in real-time live market situations as well as in saved previously recorded market situations and custom designed market scenarios - providing you with the possibility to train in an environment as close to the real thing as possible.
Orc 5.1 is being rolled out to customers during the second quarter of this year.