Firm Establishes Readiness Well Ahead of Feb. 25 Migration to Ensure Seamless Transition for Users
CHICAGO, Jan. 23, 2018 – Rival Systems (Rival), an award-winning provider of trading and risk management software, today announced that the firm has already established readiness for the Feb. 25 planned migration of Cboe Futures Exchange (CFE) onto the Bats technology platform. Rival has completed testing and received certification by the exchange for the integration of market data and order entry technology, promoting a seamless transition for clients participating in markets affected by the change.
Options market makers are now getting the ability to design and run their own custom or “bespoke” algorithms.
The old adage, “if you build it, they will come” comes to mind. But as CEO Robert D’Arco of Rival Systems sees it, if the market makers and other build it themselves then they’ll absolutely come and use it.
It's critical for options market makers to be able to automatically respond to RFQs on spreads that come in throughout the day. Automatically responding to RFQs will give you better queue positions, allow you to participate in more trades, and improve your overall market maker rankings. To learn more about Rival Trader's Spread RFQ Rules Engine and our other smart features, request a demo.
Chicago-based technology firm Rival Systems has set its sights on expanding into the Asian market, the firm’s chief executive officer has told FOW. “We’re focussing on adding new functionality and connectivity for our clients, but we’re also working on expanding into the Asian market, and just had a client go live in Hong Kong,” Robert D’Arco, chief executive officer of Rival Systems told FOW.
D’Arco’s comments came as the firm rolled out new options algorithm design functionality on its Rival Trader platform on Wednesday.
New Tool Dramatically Improves Control, Flexibility and Efficiency for Advanced Options Strategies
CHICAGO, Dec. 13, 2017 – Rival Systems (Rival), an award-winning provider of trading and risk management software, announced the roll-out this week of new options algorithm design functionality in its Rival Trader platform. The new functionality allows traders to easily design, test and execute options algorithms for futures and equity options with global market data and execution capabilities.
The upstart has done it again. For the second straight year, Rival Systems has claimed the prize for having the best commodities trading platform for the buy side. Launched in 2015, the company has quickly won over converts thanks to its derivatives trading front-end, Rival Trader, which is paired with its Rival API, a low-latency C++ development platform, replete with in-process market data feed handlers and execution gateways. And if there’s one word that you can attach to Rival’s complete offering to explain its success, it is automation.
In the current technology ecosystem, APIs have come to hold a critically important role and the future promises an even greater status for them going forward. But why are APIs so important, what are some of the ways trading firms utilize an API to support their operations, and what should you look for when evaluating an API?
Rival Trader allows you to create and select preset edge multiplier scenarios to quickly widen or tighten your markets across all options. To learn more about Rival Trader's Edge Multiplier Scenarios and other smart features, request a demo.
Buy-Side TechnologyBestows 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.
At FIA Expo 2017, John Lothian News spoke with a variety of industry participants about upcoming milestones and trends in financial markets. This fourth video in the FIA Expo series is the second of JLN videos to cover the effects and future of the big data boom. In part two, Rob D’Arco, CEO of Rival Systems, and other industry knowledge experts, discuss the benefits and struggles surrounding big data.
Trading Groups Operator Turns to Rival Trader After Success with Rival Risk
CHICAGO, Oct. 18, 2017 – Rival Systems (Rival), an award-winning provider of trading and risk management software, announced that Gator Trading is leveraging its Rival Trader front-end for the firm’s options trading strategies. Gator, an operator of trading groups specializing primarily in futures and options, migrated last year to the firm’s Rival Risk platform for all of its risk management needs.
Everyone knows that what you can’t see can hurt you and this is especially true for professional traders. In a world where competition is fierce and efficiency is constantly being pushed further and further, it’s critical to pay attention to each and every technical aspect of your trading. And just as it matters to know the specifications of your hardware and the details of your network connectivity, it’s also critically important to get down to the basic level of what language is used to develop the critical elements of your trading system. No other language can match C++ when it comes to efficient trading systems.
What is C++?
As programming languages go, C++ is no spring chicken but it has been continually updated. It was first developed beginning in 1979 as an extension of the C language by Bjarne Stroutsrup of Bell Labs with an eye to improving performance, efficiency and flexibility. C++ is ISO certified with the latest version, C++17, in the process of being implemented. C++ has found wide adoption in performance critical applications like telephone switches, space probes, and, in this case, trading applications. Stroutsrtup’s three central tenets remain the source of its success: performance, efficiency, and flexibility.
The markets have become ever more sophisticated for professional traders, and yet, many times traders take an unsophisticated approach to measuring their performance. While a trader will spend countless hours studying markets, developing trading strategies, and successfully deploying those same strategies into production, little or no time is spent in examining the factors that contribute to an underperforming strategy or, worse, a once winning strategy that fails to be profitable at all. Based on our experience we believe a thorough and robust performance measurement program that includes a comprehensive set of inputs can have profound results for professional traders.
Three steps in the process
At the outset, establishing a performance measurement framework can seem daunting. While it’s true that rigor and dedication is required to produce results, the essential bones of a successful program boil down to three facets:
determining what data to capture
creating the processes to obtain the data and generate performance reports
establishing a process to analyze and act on the reports
It all starts with the data
The first step in establishing a performance management framework is to figure out what data is crucial for your analysis. While this may seem obvious, there’s more to the question than meets the eye. While it’s critical to capture tick data, P&L, and risk parameters, there are other areas that should be examined as well. For example: