Optimus Futures Now Supports OptionsCity’s CityTrader, Offering Clients Unparalleled Access to Options on Futures

CHICAGO – February 1, 2016 – OptionsCity Software, a global provider of futures and options trading and analytics solutions, today announced that Optimus Futures now supports CityTrader, OptionsCity’s cloud-based trading platform. CityTrader provides active traders robust tools and functionality to trade both futures and options on futures.

“In December 2015, the CME Group reported 7.2 percent year-over-year growth in options on futures, well above the 1.5 percent growth in standard futures contracts,” said Iqbal Brainch, vice president of marketing and product strategy at OptionsCity. “While that growth is led by professionals, brokers are starting to see interest in trading options on futures grow from active, retail traders, just as the use of equity options accelerated in the early 2000s.”

CityTrader was designed to provide options on futures functionality as a core aspect of the platform, capitalizing on OptionsCity’s experience with professional traders and market makers. With CityTrader, Optimus Futures clients will find it easy to custom build futures and options spreads or request quotes directly from global exchanges.

At the same time, Brainch noted, CityTrader also provides brokers with a single access point to view and control their client’s risk – something many platforms lack.

“Clients choose Optimus Futures not just for our transparent pricing and high-touch personal support, but for easy access to advanced technology offerings,” said Matt Zimberg, president of Optimus Futures. “That means we rigorously test and become ingratiated in new technology platforms before supporting them. We were not only impressed with what new functionality CityTrader could offer our clients, but the ease at which it can be integrated with our clearing partners.”

For more information about CityTrader, please visit http://www.optionscity.com/city-trader/.

For more information about Optimus Futures and to open an account, please visit:https://optimusfutures.com/.

 

About OptionsCity Software

OptionsCity Software powers the trading, risk management and analytics needs of futures and options traders, market makers, financial institutions and other market participants worldwide. OptionsCity is a certified Independent Software Vendor and a leading source of electronic options trading volume on global derivatives exchanges. For more information, please visit www.optionscity.com.

 

About Optimus Futures

Optimus Futures is a leading online futures broker that caters to traders seeking low latency execution and stable data feeds combined with aggressive margins and deep discount commissions. We are an Independent Introducing Broker with relationships with multiple Futures Clearing Merchants (FCM’s) giving us greater flexibility to match you with your trading needs. For more information, please visitwww.optimusfutures.com.

There is a substantial risk of loss in futures and options trading. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. Past performance is not indicative of future results.  The purchaser of options may offset or exercise the options or allow the options to expire. Selling (‘writing’ or ‘granting’) an option generally entails considerably greater risk than purchasing options.  Please Read Full Disclaimer Here:https://optimusfutures.com/RiskDisclosure.php

Is gold’s “safe haven” status wearing off?

Is gold’s “safe haven” status wearing off? 

 

The term “safe haven” is back in the investor lexicon. With stocks off to a brutal start to 2016, gold got some favorable attention for the first time in a while. Up over 50 dollars low to high since the year began, gold has certainly been a beneficiary of some of the chaos in the world. But does that make it a safe haven?

 

Perhaps, but don’t fall in love with the idea that gold is the thing you buy when stocks are down. The last week or so has shown that a down stock market does not necessarily mean higher gold. Today the February gold futures contract made a high of $1109.9. That is lower than the 1113.1 high that gold made on January 7th. Stocks made a new low today with the S and P making a low of 1804;  on January 7th the low in the S&P was around 1930. So 125 handles lower in the S&P later, gold did not make a higher high.

 

I am aware anyone with a chart can look at that and notice it, but I think it is important to point it out to make sure that we are all looking at the facts with respect to gold’s price action. It is true that gold has generally been up on days stocks have sold off, but at least for the greater part the last two weeks, one would be hard pressed to argue that gold performed well for investors during this period of struggle for stocks. Cash would’ve done just as well.

 

As some of you who have read my writing before know, I often like to focus on the identity that gold is being given at different points in time. This lack of continued inverse correlation between gold and stocks makes the safe haven label hard for the metal to maintain. Perhaps a lack of general demand means that it should get sold, but that isn’t obvious either. If stocks recover, it doesn’t necessarily have to go down, but a strong rally in stocks would likely put some short term pressure on gold.

 

If you really want to know what makes gold move take a look at the yen.

 

goldyen

 

90 Day hourly Gold and Yen

 

The purple line is the Yen, the green and red is gold. You can see that the general patterns of these two have been very close. The yen ran into some strong selling this morning when stocks were selling off, and perhaps that is what helped keep gold in check today. Whatever the case may be, the burden  of proof for gold bulls looms large. If gold is simply pausing in the midst of a longer term move upward, I would expect it to retest 1075-1080. Below there it starts to look ugly, above that it looks like gold is consolidating above the lows which will reinforce 1080 as the critical level of support. Keep in mind 1080 was the low of the overnight crash last July. Funny how the same numbers seem to pop up in gold all the time.

 

One thing I can say from speaking with traders I know is that no one has gotten it completely right the last few weeks. The price action has been choppy across asset classes. Sometimes, following all this volatility (at least in stocks) it is easy to get caught up in the hype and look for the next opportunity to score big. I personally am taking a neutral stance for the time being. I like to put trades on when there is a clear reason that makes sense to me. Right now, I see gold in the middle of a range from 1080-1110 lets call it. It is sitting right on a major number (1100). A very similar range was carved out 100 higher (1180-1220). Those who traded that dreaded market will remember gold’s love of chopping up all the speculators who bothered to participate. Even if gold is a huge buy or sale, I’d rather miss the first 20 dollars and put trades on when and where there is more reason to have some conviction.

 

 

I will write more as more clues become available to us. Gold has certainly run into some resistance here, so I wouldn’t be in a rush to get long. If you want to put a short trade on here, I think you can do so while keeping a reasonably tight stop. In order to make the risk reward worth it, I think you’d have to be looking for at least 1060 on the downside. But if the last few weeks have left you a bit out of breath, follow me and take a few days to and see what develops.

OptionsCity Announces CityTrader Platform is Now Available with DAW Trading

CHICAGO – January 20, 2016 – OptionsCity Software, a global provider of futures and options trading and analytics solutions, today announced that its cloud-based futures and options trading platform, CityTrader, is now available to DAW Trading clients. With CityTrader, DAW Trading clients will find robust futures and options trading functionality, with the ability to request live quotes from the exchange and build custom spreads.

 

“As volatility in commodity markets has increased, so has the need for a platform with powerful futures and options capabilities,” said DAW Trading Senior Vice President Robert Ruppert. “CityTrader offers that functionality in a clean and compact interface, accessible from anywhere.”

 

DAW Trading, a division of Dorman Trading LLC, specializes in commodity, futures and options clearing.

 

“Whether trading a standard futures contract or employing more complex options strategies, CityTrader brings full exchange functionality to any trader’s door,” said Hazem Dawani, CEO of OptionsCity. “And CityTrader is available where modern traders want it – via web browsers or in Windows and Mac desktop apps.”

 

For more information about CityTrader, please visit http://www.optionscity.com/city-trader/.

 

For more information about DAW Trading and to open an account, please visit:

http://www.dawtradingdiv.com or call them at 877-329-0006

 

About OptionsCity Software

OptionsCity Software powers the trading, risk management and analytics needs of futures and options traders, market makers, financial institutions and other market participants worldwide. OptionsCity is a certified Independent Software Vendor and a leading source of electronic options trading volume on global derivatives exchanges. For more information, please visit www.optionscity.com.

December Fed Looming, Gold Stands at an important inflection point

Two posts ago, on November 16th, Gold Returns to Critical lows below 1100, I wrote the following.

 

So now, gold has found some buying around 1073, but has shown a lot of difficulty picking up any steam to push it towards 1100. This is an incredibly significant battle that the longs and shorts will fight out in this range. 40 dollars higher gold looks like a commodity that is finding real support and an ability to hold up dramatically well amidst all of the worlds commodity selling. 25 lower makes gold look very unattractive.

 

A month later, this still holds true. Despite a temporary move down to 1045, we are more or less in a range. Broadly speaking, that range has been 1060-1080. I think the levels, at least on the upside are becoming a bit clearer, and we can begin to focus on critical price points in anticipation of this week’s Fed. 

 

You might expect I would show a short term chart to discuss these levels, but I believe they apply to much bigger levels. So, let’s look at my favorite chart in gold because it tells so much; the three year daily.

 

 

 

 

The slow moving downward channel gold has been in for years is crystal clear on this chart. 

What I will mention from here on out about this chart is not technical analysis; it is just gold analysis. Even if you have never looked at a chart before, you can see that gold has demonstrated certain clear price pattern characteristics when approaching the extremities within the range.

 

Notice the very first low in July of 2013. That was the establishment of the lower line of this channel. How long did it spend there? Not long. It quickly rallied up to the top of the channel. Then revisiting this new down channel in December 2014 it rallied relatively quickly to the top of the channel. You can see how this pattern continues throughout the years.

 

Why is this so important?

 

Look at where gold is now. It is hovering at the bottom of this lower line. The last time it hung out on the line was this summer after the overnight 50 dollar drop to 1080. It consolidated before rallying nearly 100 dollars. Could we be seeing something similar here? My major takeaway from this chart (which is why I always come back to it for reference) is the speed at which gold rallies off of the lows. It is one of the reasons one might understandably adopt a strong bullish stance. In the last few years, betting on rallies off of the lows of this line have proven to be very profitable.

 

I will come up with the next argument for the bulls in a few, but there is also a way to see the above chart in a critically bearish light. 

 

Forget lines on a chart for a second and think about what it means when consolidation occurs at a certain price level.

 

Consolidation takes place at levels where buyers or sellers at a given point in time don’t strongly outmatch the other. There is some buying and some selling, but not enough to push a market heavily in either direction. Over time however, when either the buyers or sellers throw up the white flag, the interest on one side of the market gets cleared out. This allows for a potentially accelerated move once the consolidation has commenced.

 

If you take a look back at the chart above, gold is consolidating along that lower trendline. Last time it did this it rallied 100 dollars in less than 2 months. So what is potentially bearish? The Speed at which gold sold back off  to here following that rally.

 

Below I am going to reinsert the same chart above.

 

Now focus on the lower trendlie. Notice that following December 2013, gold did not interact with this line again until a full year later. In July (only 7 months after gold revisited in November 2014) gold came back retesting the 1080 area. The latest consolidation that gold has been experiencing began in November, and has continued to consolidate for longer than at any previous time gold traded along the line.

 

 

There are two elements of this price action on the longer term chart that signal the potential for a strong down move. First, the time intervals that gold is interacting with the bottom of the downtrend are shortening. The return more quickly to this support line shows that rallies are fading more quickly across the time frame you see above. Thus while the market has clearly shown strong buying off of this level, the bull party seems to be ending more quickly.

 

If Wednesday’s Fed decision leads to a break of this line on the downside, I think it opens the door for at least 100 dollars in downside. I would consider a break of 1055 as a true break of this line. The longer a line has held as support, the more likely a break of that support is to lead to swift down move. In the case of gold, a break of support would be confirmation that years of efforts to rally have failed.

 

Finally, I’d like to focus the other line you see above. Below is gold for the last 10 months or so.

 

select blake lively dresses

 

This line you see slices down the middle of the down channel we have been looking at. Notice how the line served as resistance in May and June. You can see how precisely this line served to stand as resistance over the course of the last 8 months. The break above the line led to an accelerated move higher; and soon after, an accelerated down move back to the line. Now, as you can see, gold is consolidating below this line. The last time gold broke above the line in early October, it rallied 60 dollars rather quickly. While chartists might deny the validity of this line, I have more reasons for focusing on it. I have noticed that options demand begins to flip (calls get bid above it, puts get bid below) as gold’s price relative to the line changes. Markets are not science. There are clearly others in this market who use this line as a guide for future price, and that is enough to command our attention.

 

 

It is rare you get a chance to see so many of the price patterns and trends converge at critical points simultaneously. Right now, as I have tried to convey in this post, gold sits in the middle of some very significant cross currents. It is probably not a coincidence that these cross currents are meeting head on in front of the big December Fed announcement. As it stands there is a greater than 70% chance according to markets that the Fed will raise. So, gold finds itself at a major decision point as markets approach the event (potential rate rise) the markets have been waiting for for years. A break higher opens the potential for a yearly close in the 1180-1200 range where gold has spent so much of its time. A break lower opens up the door for new multi year lows. Even if there is not a big move on Wednesday, there will be potential for big moves in the coming days and weeks. Big events like this tend to exhaust either buyers or sellers. Even if the move is not immediate, the potential for 50+ dollar moves over a 1-2 day period will increase at such a point of buying and selling cross currents.

 

Wishing everyone good luck this week; I will try to write next weekend and discuss the events of the coming week.

 

Gold Quietly Breaks 1050

Gold Quietly Breaks 1050

By Ben Ryan

The dollar is what is ruling these markets right now. For the time being, the gold price seems inextricably linked to the dollar. Higher dollar, lower gold; and vice versa.

There have been some buyers coming in in gold this week, but the dollar spoiled their plans starting around 5 this morning. Bad European economic data caused the dollar to rally. The dollar rally extended at 8:15 when the ADP preliminary employment number came in better than expected. The dollar continued making new highs as Janet Yellen spoke in the afternoon. By the end of her speech (which my angry colleagues tell me I am lucky to have not listened to) the dollar had given up all of its gains, even dipping back below the psychologically important 100 level on the dollar index.

The one thing that has actually been clear in these markets is what data is bullish and bearish for the dollar index. Bad Euro economic data is perceived as bullish dollar. Bad Euro data increases the perceived likelihood of European QE, which would put pressure on the Euro. Positive news in the US (good jobs report) increases the perceived likelihood that the Fed will raise rates later this month. Since there is at least a literal connection between interest rates and the economy, positive US data makes it appear that the Fed is more likely to raise. This, in turn should be bullish dollar.

But what happened this afternoon? As my friend put it, “She made it seem like they were going to raise rates, and the dollar rallied. Then she started talking about what might happen after that, and I just got confused”. Apparently, whatever confusing words she used were enough to bring some selling into the dollar, and gold managed to hold a low of 1049.4.

I find it interesting to note that the stock market took a turn to the downside after her confusing speech. I apologize for having not listened to the speech I am referencing, but I have been confused enough by her in the past, and will take people at their word when they tell me she made things unclear. The stock market does not like this uncertainty. We have seen this before. “Raising rates” is not necessarily enough to derail the stock market. We know this because stocks have rallied as the perceived likelihood of a rate raise has increased in the past few weeks. But market uncertainty about the message being delivered by the Fed is a different thing all together.

At this point, most market participants are banking on a December rate hike as an inevitability. A rate hike is thus largely priced into markets. The question will be, how do they describe their future intentions. If for some reason they don’t raise rates, gold could see an epic short covering rally. But my contention at this point is that a rate hike does not imply lower gold prices. It will, ONCE AGAIN, be in the language that is used.

I am not much for giving out gratuitous advice, but I’ll make an exception this time. Try to go into the announcement flat if you can. That is my game plan. Over the past two years, I have seen what seemed so obvious NOT work on these announcements and major events. I have personally put on what I thought were well thought out positions into these kinds of events, only to lose a month of hard work in minutes. I know, I am not alone on that one.

One of the reasons the risk is so great right now is the general lack of liquidity that is so pervasive across markets. I will write more on this “fake liquidity” next time, but I have been watching the liquidity dry up in the gold futures and options markets for some time now. It has been getting progressively less and less liquid. Take today in gold for instance. ~4500 lots traded on what was clearly a stop getting run. The seller left 2000 lots (offered on the screen). After a few minutes of futures silence, buyers took the seller out. Then, with the exception of one small blip, there were no orders to be seen. One would think that a 6 year low might interest some participants. It didn’t. This is not the first low gold has made of late, nor is it the first time the participation following such a low has been a complete dud. To my mind, a multi year low would be reason for interest to pick up, but the volume is telling us otherwise. Rather than watching futures change hands throughout the day, you are seeing intermittent volume spikes, followed by silence. This is the ultimate sign of illiquidity, or at least, lack of participation. If a size player is caught of guard at an illiquid time, it increases the likelihood of a gap move. If you want to hold positions into the Fed announcement (or any time leading up to it) just keep in mind that getting out may be tough if it doesn’t go your way.

This Friday is the jobs report. As a colleague reminds me, trend changes in gold tend to begin on NFP days, and on Fed announcements. We will see how it plays out, and I will write more following Friday’s action.

 

Gold Returns to Critical lows below 1100

Gold Returns to Critical lows below 1100

By Ben Ryan

Gold managed to get a lot of people excited over the course of the last few months. Following the late July dip to 1080, it was unable to make any further progress to the downside. 1080 became major support, and the metal managed to rally over 100 dollars off of the lows to 1191. Then, in the course of about a week, all that hard work was undone, and gold is back near the lows of 1080, and mere ticks off of making a multi year low at 1073.

There are a few interesting things to note about what has gone on for gold, and how investors are approaching it. Interest rates, or more specifically, the expectation of a rise in interest rates has been the main driver of price. If you take a look back at gold’s price action in the last two months you will find that one basic rule holds: Expectations of a rate rise leads to gold selling, when the expectation is that a rate raise will be pushed further into the future, it gets bought.

The NFP on Nov 6, which came in better than expected, provided the impetus for sellers to knock the metal below 1100. The idea is, better jobs report means the economy is better, and therefore interest rates are more likely to go higher. The logic is not really logic at all. Sustainable jobs are not created from twenty five point raises or decreases in interest rates…. but the soundness of the logic behind interest rate moves, and gold’s reaction to them, is not our concern. We just need to know how gold is perceived at a given time, and what drives investor sentiment towards it. Lately, it has been all about interest rate expectations.

I found it very interesting to learn that the managed money crowd has been behind a lot of the selling. Take a look at the Nov 3 Commitment of Traders.

Screen Shot 2015-11-16 at 12.14.20 PM

Notice The -30,958. That would indicate the amount of futures that the longs in the managed money category got out of during the week. I read this as showing that managed money longs bailing marked gold’s last gasps in the 1180-1190 area. Had gold been able to recapture the 1180 area and consolidate the chart would look far different than it does right now. My view is that “managed money” is using gold as a proxy for Fed hike expectations, and the market is moving largely off of that view.

Wednesday, November 4th the Fed released their minutes from the previous meeting, and the general consensus was that the tone in the meeting was hawkish (expressing a greater likelihood that a rise in rates was imminent). The Friday jobs number helped to support that hawkish outlook…. Good jobs, less reason for the Fed to change their hawkish tone.

Where from here? Gold made a very interesting efforts at the lows at 1073. Unable to even make an effort above 1090, gold found itself retesting multi year lows.

gold15day

Note: Gold made highs near 1191 in the week previous to this chart, and likely marked the levels where managed money started selling. The selling was reinforced with the first big red candle you see at the top of this chart.You will notice that selling came in after 2pm on Wednesdayafternoon, just after the Fed had released their minutes.

Look at the volume on the bottom of the chart. You will notice that the the big down candles tend to correspond to high volume the whole way down, showing real selling. On Thursday however, there is major volume on a green candle at the low of 1073. Consider the longer term chart to see why this level is so significant.

08tonowgold

Look at gold from 2007 to now above. As I read it, someone looking to get short futures on these lows would likely be targeting ~1000 dollar gold, near where the old tops from 2007 should serve as support. But those shorts did not get their way on their first try last Thursday. As mentioned in the short term chart above, real volume came into buy at 1073, and defended the previous low. The shorts cleared out quickly as gold managed to rally back nearly 15 dollars, likely representing shorts giving up on their immediate plans to capture such a drop.

So now, gold has found some buying around 1073, but has shown a lot of difficulty picking up any steam to push it towards 1100. This is an incredibly significant battle that the longs and shorts will fight out in this range. 40 dollars higher gold looks like a commodity that is finding real support and an ability to hold up dramatically well amidst all of the worlds commodity selling. 25 lower makes gold look very unattractive.

Short term directional trades don’t make sense in this kind of range. If you want to play long or short, I think you need to be working with 25 dollar wide stops and looking for a big move in either direction. If the long/short battle in this range appears to be clearly going to one side, it may be worth it. For now, we will wait to see what this Wednesday’s Fed minutes reveal. We should be looking for any big volume that might come in and use it as important information in getting a sense for the bigger picture in the gold market.

In looking back at what I wrote I had to adjust the 100 handle on a lot of what I wrote. It is so easy to get confused as so many of the numbers 100 higher have such similar to the significance 100 lower (1180/1080 especially). Good luck trading and as always, please feel free to share any questions, comments or critiques.

CityTrader Courts the Masses

The options-and-futures site believes the average trader could use its new platform to start trading with little instruction.

By THERESA W. CAREY

Nov. 7, 2015

OptionsCity Software, a small Chicago-based financial technology firm, has provided professional futures and options traders and market makers with a platform called Metro NOW since 2008. More recently, however, it’s begun to broaden its offerings to the retail market with CityTrader, a new cloud-based application rounding out its urban-themed lineup.

Iqbal Brainch, who oversees the firm’s marketing and product strategy, explains that OptionsCity “has looked at what a less sophisticated trader would want in terms of functionality, and built a system from the ground up.” He believes the average retail trader could be able to trade on it with little instruction. In contrast, the firm’s professional version “is much more sophisticated and considerably more complex, with a very steep learning curve.”

The new CityTrader is accessible on your desktop from recent versions of Chrome, Firefox, Safari, and Internet Explorer. A mobile version is also being tested and should launch shortly. I was able to take a look at CityTrader on my iPad without much trouble using a Safari browser. I found the platform pretty easy to use overall and mostly intuitive, though I would have liked to see a few more sources of support for a new trader.

Read the Full Article at Barrons.com

Advantage Futures Adds Support for OptionsCity’s Cloud-Based Futures Platform, CityTrader

OptionsCity Software, a global provider of futures and options trading and analytics solutions, today announced that Advantage Futures’ clients now have access to CityTrader, OptionsCity’s cloud-based futures trading platform. With CityTrader, Advantage Futures adds a platform with robust pricing and analytics tools that works seamlessly for futures and options on futures trading across a number of different platforms.

“CityTrader is the most intuitive and flexible futures and options on futures trading experience available,” said OptionsCity CEO and cofounder Hazem Dawani. “Adding that option for Advantage Futures, one of the highest volume futures and options clearing firms in the industry, is the natural progression to expanding CityTrader’s base in the market.”

Advantage Futures also supports Metro NOW, OptionsCity’s flagship product for professional traders and market makers.

“At Advantage Futures, our clients demand technology options to meet a range of trading styles – whether rooted in a particular strategy or based on volume,” said Bill Harrington, Executive Vice President of Business Development at Advantage Futures. “When paired with our technology-driven clearing and execution services, CityTrader adds necessary tools to the arsenal of a modern trader.”

For more information about CityTrader, please visit http://www.optionscity.com/city-trader/.

About OptionsCity Software

OptionsCity Software powers the trading, risk management and analytics needs of futures and options traders, market makers, financial institutions and other market participants worldwide. OptionsCity is a certified Independent Software Vendor and a leading source of electronic options trading volume on global derivatives exchanges. For more information, please visit www.optionscity.com.

OptionsCity Unveils New Suite of Solutions to Help Power Global Exchanges

OptionsCity Software, a global provider of futures and options trading and analytics solutions, today announced OptionsCity Exchange Solutions, a suite of products and services designed to help global exchanges expand their technology and drive visibility and liquidity.

“In the past year, OptionsCity innovated how trading technology is delivered to professional traders and market participants by introducing Metro NOW, CityTrader and the City API, three products that offer flexible and modular technology solutions,” said OptionsCity CEO Hazem Dawani. “Exchange Solutions builds on these innovations to help exchanges capitalize on our extensive domain expertise where it matters most.”

The launch of OptionsCity Exchange Solutions follows an announcement in August that OptionsCity’s award-winning Metro NOW platform would power settlement prices for Nasdaq Futures, Inc. (NFX).

“OptionsCity has a great track record of partnering with global exchanges in developing custom solutions and I’m excited about opportunities to leverage our technology and expertise going forward,” said Dan Rooney, Vice President of Sales at OptionsCity.

In addition to Metro NOW, Exchange Solutions leverage CityTrader, a white-labeled, web-based trading platform, and City API, a set of REST-based APIs that can be used for margin services and risk management. OptionsCity can also customize applications to allow for increased functionality and access to clients, integrate chat with quoting and execution platforms, and distribute exchange data seamlessly with out-of-the-box solutions.

For more information about OptionsCity’s exchange offerings, visit OptionsCity at FIA Expo Booth #920 or go to http://www.optionscity.com/exchanges/.

Vintage Bridesmaid Dresses

OptionsCity Rallies Around Student Hackathon

OptionsCity was proud to help sponsor MHacks 6 over the weekend at the University of Michigan in Ann Arbor. We sent a few engineers to the 36-hour hackathon, and we were blown away by the hacks students were able complete in such a short period. Video games, virtual reality, robots — you wouldn’t believe it if you weren’t there. We even had the privilege of lending a hand to a few of these students, including 3rd place winner SmartShower!

For OptionsCity, hackathons are a great (and fun!) way to recruit some amazingly talented engineers. Plus, it’s a great opportunity for us to get to better know our teammates, and to give back to something we love (Go Blue!).

We were also inspired to create some hacks of our own, that we think will prove to be lasting contributions to our products. These hacks included simulated markets (great when trying to get realistic market activity on weekends), simulated order entry (ditto), a Java client library for the City API, and even an app that will help us better distribute information at future hackathons.
Look for OptionsCity to participate at future events like these, and please stop by if you’re in attendance!

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About OptionsCity Software
OptionsCity Software powers the trading, risk management and analytics needs of professional futures and options traders, market-makers, introducing brokers and financial institutions worldwide. OptionsCity’s diverse suite of powerful tools includes Metro NOW, its flagship electronic trading and market-making platform, and Freeway, a multi-asset automated trading engine designed to build, test, and deploy algorithms with micro-second execution. OptionsCity also provides its cloud-based futures trading platform, CityTrader, and its REST-based, easy-to-implement API, City API for accessing futures and options on futures market data and analytics. OptionsCity is a certified Independent Software Vendor on leading global derivative exchanges and markets.. For more information, please visit www.optionscity.com.

 

 

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