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May 25, 2012

OptionsCity Intros New Online Algorithm Repository, Collaborative Environment for Traders



OptionsCity Software recently announced the introduction of Algo Store, a new online algorithm repository and collaborative environment.

The latest offering from OptionsCity has been designed to let traders and developers create, buy and download trading algorithms. Users can access the algorithms at algostore.optionscity.com.

The company is an icon in electronic trading solutions. Now, third-party developers will be able to use Algo Store to both write and sell algorithms, or components of algorithms, developed by them to traders across the globe.

The new solution consists of developer profiles, a ratings system and an interactive social forum. Developers will also have a shot at becoming an OptionsCity Certified Developer. The title of OptionsCity Certified Developer is given to only top-rated quantitative analysts and developers.

"Rightly so, traders are protective of their algo trading strategies,” said Hazem Dawani, CEO at OptionsCity. “Algo Store will change the way algorithmic development is done; in addition to offering full execution and analysis algorithms, it will provide developers with the components for basic functions, allowing for faster creation of complex algorithms and reducing their time-to-market."

Users of OptionsCity's algorithmic trading platform, Freeway, will enjoy complete access to Algo Store. Once in, they will be able to carry out searches for algorithms based on criteria such as price, category and popularity, which can then be uploaded easily to their trading infrastructure facilitating faster testing and deployment.

Freeway users will also be able to use Algo Store to access advanced algorithm samples, which include delta and gamma hedging, as well as opportunity detection, quoting algorithms and auto spreaders.

Users of OptionsCity Metro can customize their options trading platform using different widgets provided at the Algo Store.




Edited by Braden Becker
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