OptionsCity Metro

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OptionsCity Metro is a fully configurable electronic trading and market making platform that enables options traders to have full control over trading, safety, and risk management. [1] OptionsCity Metro connected to Parity Energy in March 2011 to give customers access to the OTC Energy markets. [2]

The Wall Street Letter named OptionsCity Metro “Best Options Trading Platform - Client Service” in the 2013 Institutional Trading Awards, the second consecutive win for Metro in the options trading category. [3]

OptionsCity Metro Features

Dynamic Quoting Engine

    • Fast quote construction and submission;
    • Proprietary quoting algorithms, optimized for speed, to react to market conditions;
    • Comprehensive set of safety features to protect against market risks;
    • Non-scripting logic technology for traders to quickly react to market conditions rather than be limited by scripts.

Electronic Trade Sheets

    • Configurable allowing for pricing, click trades, and strategy setup;
    • Full customization of colors, fonts, and cell contents;
    • View market data and place orders;
    • Manage volatility and set up different skew types - fixed or floating;
    • Support for tablets on the exchange trading floor.

Electronic Eye (Target Finder)

    • Displays, sorts, and filters trading opportunities;
    • Allows traders to click trade or auto respond to opportunities;
    • Create strategy missions based on triggers the traders set to hit targets and auto respond to opportunities.

Options Pricing and Modeling

    • Several options pricing models available to price European and American options;
    • Several skewing methods available to adjust and calculate volatility;
    • Graphical representation and manipulation for skews and prices.

Integrated Risk Management Tool

    • Centralized server-based risk management;
    • Display the risk associated with trades and positions across a span of underlying prices;
    • View by product or setup a portfolio;
    • Filter risk by trader(s) or account(s);
    • Create “What if” scenarios.

Respond to Exchange Requests

    • View Request for Quotes (RFQs) sent out by market participants on the exchange;
    • View Auctions and Price Improvements (PIPs) initiated by market participants;
    • Manual or auto respond to RFQs and Auctions.

Direct Exchange Connectivity

    • Direct exchange connectivity to over 15 exchanges;
    • Servers co-located next to exchange matching engines;
    • Support of order routing to additional exchanges through clearing firms’ systems.

OptionsCity Metro Benefits

OptionsCity Metro benefits as marketed by OptionsCity include:

    • Minimum latency throughout the system;
    • Fast quote construction and submission, and automatic response to opportunities;
    • Server-side processing and execution;
    • Co-location of server next to the exchange matching engine;
    • Streamlined feature set;
    • Graphical display of information;
    • Flexibility to configure to meet different needs;
    • Collaborative environment allows traders to communicate and increase group efficiency;
    • Dynamic graphical display to quantify market discrepancies;
    • Early detection and automated response to extreme market conditions based on defined thresholds;
    • Safety features to protect and warn from human error;
    • Clear understanding and management of risk to allow for profitable trading;
    • Enhanced trader’s communication by providing the ability to chat, share settings, and monitor trading activities within teams;
    • Simultaneous direct access to various exchanges;
    • Unified market access enabling new exchange connections when required;
    • Strategy automation through wizards not requiring scripts to create trading strategies as powerful as if the traders have their own software developers;
    • Speedy execution through customized pricing, automated quoting, and risk management;
    • Open Architecture allows easy integration with existing systems;
    • Integration with proprietary solutions such as proprietary pricing models or execution algorithms;
    • Adaptable technology permits traders to fully automate trading strategies and maintain order work flow.

Resources

Trading on C2 Using OptionsCity Metro

References

  1. Software Review: OptionsCity Metro. Futures Magazine.
  2. OptionsCity Rolls Out Metro To Parity Energy. Automated Trader.
  3. OptionsCity Metro wins "Best Options Trading Platform" Award. OptionsCity.