Rival Systems launches low latency derivatives trading platform

Source: Rival Systems

Chicago-based Rival Systems, LLC (Rival), a trading software company established earlier this year, today officially launched its new low latency derivatives trading and risk management platform.

The new Rival Trader front-end and Rival API have been used by a select group of clients for the past five months and are now broadly available to the options and futures trading communities. Late this year, the firm plans to introduce Rival Risk, an enterprise risk management tool designed for brokerage and clearing firms, hedge funds, proprietary trading firms and operators of multiple trading groups.

Rival CEO Robert D’Arco said: “While Rival Systems is new, we have honed our cutting-edge technology over more than a decade of working closely with many of the world’s most demanding and successful traders and risk managers. We believe Rival Trader and Rival API are the best products on the market, providing professional trading groups, market makers and commodity trading advisors (CTAs) the ability to trade smarter and faster, while enjoying premier service and support. We’ve built in state-of-the-art analytics and an advanced, feature-rich platform to maximize the user experience and enable clients to tailor our offering to meet their unique needs.”

Rival Trader features include:
• A range of sophisticated options pricing capabilities and volatility models, with real-time updates and an auto-fitter to fit traders’ curves to real-time implied volatility;
• Ultra-low latency Auto-Quoter engine and Electronic Eye to quote with confidence during fast markets and automatically trade with resting orders;
• Advanced execution logic and underlying price calculations based on market micro-structure;
• Real-time and scenario risk management to monitor risk and profit-and-loss across multiple strategies, accounts and individual traders within a group, including expiration simulation reports and pre-trade limits; and
• Transparent performance reports to provide users with objective analysis of the system’s latency based on their activities.

Rival API features include:
• C++ library providing in-process market data feed handlers and execution gateways with a normalized data format to easily build and deploy automated strategies across multiple exchanges
• Ability to easily manage instruments, orders, trades, conflate data, and modify parameters during run time
• Automatic integration with Rival Trader with the ability to view orders, trades, positions, risk and real time profit-and-loss for automated strategies
• Ability to capture the tick to trade latency of every order

D’Arco said that Rival’s development and support team functions as a firm’s long-term technology partner. With onsite training and support, and technology services including custom strategy development, hardware purchasing, hosting and connectivity options, and rapid delivery of feature requests, Rival provides a comprehensive system to meet the specific needs and goals of the users.

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