Rival Unveils Derivatives Trading Platform

Rival Systems, the Chicago-based provider of trading software established earlier this year, has launched its new low-latency derivatives trading and risk management platform, Rival Trader.

The new platform and Rival API have, according to Rival, been used by a group of clients for the past five months and are now available to the options and futures trading communities. Later 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 Trader features include:
• A range of 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 designed to produce accurate quotes 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 functionality to monitor risk and P&L across multiple strategies, accounts and individual traders within a group, including expiration simulation reports and pre-trade limits
• 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 build and deploy automated strategies across multiple exchanges
• Ability to 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 P&L for automated strategies
• Ability to capture the tick-to-trade latency of all orders.

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• Topics
• Algorithmic trading
• Rival Systems
• Trading Tools
• High-frequency trading (HFT)