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Orc Trading For Warrants Market Making

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  • 1. ORC TRADING FOR WARRANTS MARKET MAKING IMPROVE WARRANTS MARKET MAKING WITH FAST, RELIABLE MULTI-MARKET ACCESS Expand your business. Win market share. Market making has never been more competitive. The need to reduce latency and be first to market has become paramount for success. With thinning margins, many firms are also looking for new ways to grow their business. Solutions that provide ultra-low latency access to existing and new markets have become the key drivers for many market makers today. Orc Trading for Warrants Market Making delivers customers the choice of a customizable or a complete out-of-the-box solution. ORC TRADING FOR WARRANTS MARKET MAKING HAS HELPED FIRMS: • Improve quote timing with ultra-low latency connectivity • Quickly expand warrants market making across new markets • Reduce infrastructure costs with a scalable, flexible technology platform • Increase quoting in competitive markets with a high-throughput trading engine ORC TRADING TAKE ADVANTAGE
  • 2. WHO NEEDS ORC TRADING FOR WARRANTS MARKETING MAKING? HEADS OF WARRANTS at market making desks needing to DEVELOPMENT MANAGERS looking for open strategy increase profits and send warrants quotes to the market at control and the ability to prioritize strategies in production various depth levels. • When deploying complex warrant quoting strategies • Would you have more confidence in your trading if you would deployment time be reduced if you could use a did not need to manually insert quotes at different depth powerful yet intuitive user interface for developing and levels? modifying strategies? • Would it be easier to quote a number of warrants with a • When writing strategies for warrants market making, template that you could design, configure and apply to would greater benefits be gained using an open, flexible those warrants? language that is compatible with other 3rd party software and existing class libraries written in other languages? • Would you be able to increase profits if your traders could quote hundreds or even thousands of warrants from a • When executing trading strategies, would your traders gain single screen? comfort and confidence in their trading by knowing that all their strategies, regardless of priority, will be executed? • Would you be more profitable if you could take advantage of economies of scale when quoting warrants? Orc Solution → Use Orc Trading for Warrants Market Making for Code Manager, Strategy Editor and fully customizable • Would you find it easier to expand your business if you Java API. could have your current market makers handle more trades rather than hiring difficult to find, experienced warrants market makers? Orc Solution → Use Orc Trading for Warrants Market Making for a multi-level quoter and single trading platform. “ New market conditions place added emphasis on high-performance and automated trading solutions. Managing warrants trading requires increased efficiency, based on key parameters such as low latency and high throughput. ” Anders Henriksson, Business Development, Orc Software
  • 3. ORC TRADING FOR WARRANTS MARKET MAKING SOLUTION FEATURES BUSINESS LOGIC - External application on top of Orc Proto- MARKET ACCESS col/Orc Liquidator protocol for pricing • Market making engine and/or trading parameters • Connectivity to most warrants venues - Quote engine based on ATM in Orc Trader • Pricing across Europe and APAC - Customizable quote engine based on - Orc pricing and volatility models in • Optimized for high throughput Orc Liquidator Orc Trader/Orc Liquidator • Low latency connectivity to cash and • P&L and risk management - Custom pricing and volatility models in futures markets for hedging - Risk sensitivities, scenario analysis and Orc Trader/Orc Liquidator P&L analysis in Orc Trader - External application on top of Orc Proto- col feeding Orc Trader/Orc Liquidator TECHNICAL EXCELLENCE - External application using calculations from Orc Protocol • Hedging engine • Java-enabled, server-based algorithmic - External risk system using positions (and - Click trading in Orc Trader trading engine potentially more) from Orc Protocol - Trade/portfolio hedging in Orc Trader • Reliable • Parameter management - Custom trade/portfolio hedging in • Scalable - Pricing parameters (vols, dividends, etc) Orc Liquidator in Orc Trader - Trading parameters (refills on trades, quote volumes etc) in Orc Trader or Orc Liquidator client 1 Trade futures, options, and cash products on 1 multiple exchanges 2 Monitor and adjust trading strategies 2 3 Post-trade risk and position information to support trading 4 View executed trades 5 Manage and adjust volatility 3 4 6 Design your own trading strategies in Java 6 5
  • 4. ORC TRADING FOR WARRANTS MARKET MAKING SUCCESS STORIES HEAD OF WARRANTS AT A MARKET MAKING DESK THE DEVELOPMENT MANAGER AT A MARKET MAKING DESK The Head of Warrants at a market making desk (an exist- The development manager at a market making desk ing Orc customer) wanted to expand his warrants business (an existing Orc customer with many years experience using significantly. However the firm was aware it could not expect Java) wanted to customize strategies for warrants market its two market makers to quote at such an increased level, making using existing strategies from other applications. or the required depths. They also knew they were lacking in Using Orc Trading for Warrants Market Making they were the floor space and budget to hire the additional number of able to utilize other strategies from third-party applications market makers required to achieve their goal. In speaking thereby decreasing warrants market making strategy devel- with Orc, the head of warrants learned that their two market opment time by 30%. makers could easily expand their existing warrant quoting level by ten times by using a strategy-driven application with an intuitive interface from Orc. ORC TRADING TAKE ADVANTAGE Take Advantage Orc is a leading global provider of technology for advanced derivatives trading and connectivity. Customers include leading banks, Orc Trading is used by leading financial firms worldwide for enhanced trading and market-making firms, exchanges, brokerage houses, trading, pricing and risk management on electronically traded derivatives. institutional investors, hedge funds and software vendors. Orc Trading provides the competitive edge to trade from a single platform, on any listed instrument, across all asset classes, on 100+ markets. sales@orcsoftware.com Orc Trading comprises market leading applications including among www.orcsoftware.com others Orc Trading for Algorithmic Trading, Orc Trading for Arbitrage, Orc Trading for Market Making, Orc Trading for Risk Management and Amsterdam, Chicago, Frankfurt, Hong Kong, London, Milan, Orc Trading for Volatility Trading. Moscow, New York, Paris, Stockholm, Sydney, Vienna