November 6, 2017 · Press Releases
Rival Systems Wins Best Buy-Side Commodities Trading Platform Award for Second Consecutive Year
Buy-Side Technology Bestows Honor for Rival Trader / Rival API
CHICAGO / LONDON, Nov. 6, 2017 – For the second consecutive year, Rival Systems (Rival), a leading provider of trading and risk management software, has won Buy-Side Technology’s award for “Best Buy-Side Commodities Trading Platform.” The Waters Technology publication announced the honor for the firm’s Rival Trader and Rival API offerings at its 2017 awards ceremony on Friday in London.
Victor Anderson, editor-in-chief of Waters Magazine and Waters Technology, said: “Rival stood out among a broad range of entrants in this category for its innovative functionality for buy-side commodities traders and options market makers. The firm’s Rival Trader front-end and Rival API algo strategy development framework include new features that helped traders manage the often volatile and sometimes illiquid commodity markets over the course of the last year.”
Rival Systems CEO Robert D’Arco said: “It’s very gratifying to win this prestigious award for the second time after only two years in the market. The award is a testament to our development team’s work ethic, technical skills and knowledge of the markets. We constantly strive to introduce new features that solve challenges and provide opportunities for commodities traders. This year, we broadened our commodity appeal with valuable functionality for energy traders while building on our other great features and client-inspired upgrades.”
Among the new features Rival introduced for energy traders were:
- Enabling clients to link and easily manage volatility between products, facilitating trading of same or like instruments on multiple exchanges and helping traders run automated strategies for the energy complex across venues.
- Introducing Rival Chat, with Instant Messaging Parsing Logic to help crude oil and natural gas traders on the buy side more easily trade with the sell side, such as the ability to immediately show the trader the theoretical value and risk of a spread.
- Performance enhancements to give options market makers a competitive edge while quoting high-delta options during fast markets.
With growing commodity options spread market volume this year, Rival clients have been able to leverage the firm’s functionality to automatically respond to requests for quote (RFQs) and launch Electronic Eye orders to capture edge as new spreads are created in the market, even across different products. As commodity markets are often highly volatile or illiquid, commodity options market makers have combined the firm’s low latency Auto-Quoter, Electronic Eye and proprietary synthetic underlying price calculator to predict accurately when the market will move, enabling them to revise their quotes and trade with resting orders before underlying top-of-book updates.
The Buy-Side Technology awards recognize the leading technologies and vendors in their area of expertise, through an auditable, transparent methodology underpinned by the input and experience of nine judges – five buy-side-focused technology consultants and four Buy-Side Technology journalists.
View Buy-Side Technology Awards 2017 Full List of Winners
Rival Systems (www.rivalsystems.com) empowers professional traders with the technology and resources required to compete in today’s markets. Rival provides a comprehensive technology solution with award-winning platforms, including: Rival Trader, a sophisticated, ultra-low latency derivatives trading system; Rival API, an algorithmic strategy development framework; and Rival Risk, a fully hosted enterprise risk management platform; as well as extensive training and support. Rival Systems has distinguished itself in the industry through its premier service, exceptional speed and advanced features designed to help users gain an edge in the market.
Sara Goodman, Director of Marketing, Rival Systems