Electronic trading technology vendor Patsystems is to release its new Reflector screen-based interface as an automatic upgrade for J-Trader system users later this week.
Reflector enables users to view market depth through a dynamic price ladder. Traders can simultaneously see last-traded prices and market depth; view the inside market spread; place and amend orders; enter stops; display implied prices; hold prices and hold orders; and view profit and loss.
Originally developed as part of TradeMark, Patsystems’ next generation platform, Reflector has been added to the existing J-Trader platform.
The rush to release the technology reflects the threat posed to Patsystems' by Trading Technologies, the Chicago-based ISV which has threatened to sue companies that infringe its own MD Trader market depth trading screen methodology. Patsystems has applied for a patent for the Reflector system.
Kevin Ashby, Patsystems’ chief executive, says: "We have already had feedback from more than 200 users, and their response confirms that Reflector has significant advantages over other tools."