Adds FlexOPT-RM and FlexOPT-OMM to Offering
GREAT NECK, N.Y.--(BUSINESS WIRE)--FlexTrade Systems, Inc., a global leader in multi-asset, broker-neutral execution and order management systems, today introduced two new trading solutions for its FlexOPT options trading repertoire: FlexOPT-RM, an advanced risk management and stress testing platform, and FlexOPT-OMM, a flexible order-driven market making platform.
According to Vijay Kedia, president and CEO of FlexTrade, FlexOPT-RM and FlexOPT-OMM represent the next generation in the company's options offering. "We've had a primary options OMS & EMS platform called FlexOPT for a number of years now," he said. "But with the growth and complexity of electronic trading in options, the need for additional platforms became apparent."
Offers comprehensive real-time risk and stress analysis whereby traders can analyze risk by portfolios, sectors, traders, accounts or any level of aggregation/hierarchy. Primary features include:
- An open architecture with API interface to integrate valuation models, volatilities and interest rates.
- Graphic analysis and review of P&L as well as the contribution to P&L from Greeks, such as Delta, Gamma, Vega and Theta.
- The capability to slice and dice your portfolio by underlying, expiration, account, etc., or to analyze your entire portfolio.
- Stress tests defined in terms of spot and volatility shifts and the ability for traders to review the impact on their Delta, Gamma, Vega, etc., projected at multiple future dates.
- Volatility surfaces for risk and stress analysis are computed in near real-time.
- The capability to drill down to specific stress scenarios or graphically review a range of stress scenarios.
- Testing of possible scenarios by adding candidate trades and viewing the affect on risk and stress testing.
A flexible order-driven market making platform for advanced options traders. It provides a comprehensive user interface for configuring an order strategy. The pricing engine can be fully customized by the trader and loaded into the system as a dynamic module. Positions can be grouped and viewed at various levels, and a robust hierarchy of risk limits ensures that the trader can manage risk in real-time. The risk limits can be specified for position quantities, as well as Greeks such as Delta, Gamma and Vega. Primary features include:
- Ability to load option chains based on underlying symbol, expiry date and strike price.
- Ability to preload a portfolio from the prior day, carryover of previous positions.
- Customizable pricing model and hedging strategy.
- Customizable volatility model with intuitive and powerful GUI to manage volatility curves.
- A simple GUI to start and stop order-quoting for individual contracts or all contracts collectively.
- A "test" mode to check orders without submitting to an exchange.
- Flexible rules to replace orders (based on the magnitude of the price change).
- Adjustable reinstatement logic to replenish orders that have been filled.
- Customized selection of underlying instruments (e.g., a futures contract can be chosen as the underlying proxy instrument for cash options).
- Ability to select the underlying instrument on the basis of liquidity.
- Risk limits for positions and Greeks, at contract, strike, expiry and underlying level.
- Hypothetical scenarios to plot P&L based on variations in underlying price, volatility and Greeks.
- System configuration settings stored in XML file format, which can be loaded and viewed in any XML browser.
About FlexTrade Systems, Inc.
Founded in 1996, FlexTrade Systems Inc. is the industry pioneer and global leader in broker-neutral algorithmic trading platforms for equities, foreign exchange, options and futures. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than 150 buy- and sell-side firms, including many of the largest investment banks, hedge funds, asset managers, commodity trading advisors and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.com or follow news of the company on Twitter at www.twitter.com\flextrade.
Contacts
FlexTrade Systems, Inc.
James Tolve
Tel: (516) 304-3601
Cell: (516) 395-0549
james.tolve@flextrade.com