Hanweck Associates, a premier financial-services provider specializing in high-performance risk management and trading solutions for institutional investors, announced today that the world's largest equity options exchange, the International Securities Exchange (ISE), recently deployed VoleraFEED, Hanweck's high-performance options analytics solution.
VoleraFEED delivers real-time, low-latency implied volatilities and Greeks for ISE's front-end options trading application, PrecISE Trade®. The dynamic tool provides comprehensive options analytics data within a flexible, customizable framework for PrecISE users.
Due to increasing trading volume and the complexity of options pricing calculations, the financial industry is eager to offer enhanced options trading information to its customers. ISE selected Hanweck's high-performance system to calculate real-time implied volatilities and Greeks for the entire U.S. Options Price Reporting Authority (OPRA) product universe. Deployed in June 2009, VoleraFEED reliably delivers high-quality data directly into the PrecISE platform so options traders can quickly analyze and act on market dynamics. Offering ease of use and fast time to market, VoleraFEED enables ISE to provide a cost-effective service to its customers which complements other market data offerings available through PrecISE.
Jeff Soule, head of ISE Market Data, noted, "Hanweck is an industry-leader in high-performance market data processing, and we are pleased to have partnered with them to enhance the scope of market data available through PrecISE. Since incorporating VoleraFEED's options analytics into PrecISE in June, we have received extremely positive feedback from users about the quality and timeliness of the comprehensive data. We look forward to working with Hanweck in the future as we continue to expand our market data offerings."
Built upon Hanweck Associates' VoleraTM high-performance, graphics processing unit (GPU) based options analytics engine, VoleraFEEDTM delivers real-time implied volatilities and Greeks on the entire U.S. OPRA universe with latency measured in milliseconds. The Volera engine can perform tens of millions of options valuations per second - 30 times faster than conventional CPU-based systems. Volera's innovative technology reduces operational costs by 90 percent, and easily scales to meet ever-increasing OPRA message rates.
"In these volatile markets, traders can't afford to take their eyes off the trading screen," noted Gerald A. Hanweck, Jr., PhD, principal partner and founder of Hanweck Associates. "By incorporating VoleraFEEDTM into PrecISE, ISE puts valuable real-time implied volatilities and Greeks directly on traders' screens, allowing them to stay focused on their trading and execution."