OptionsCity Software launches Algo Store™, the ‘iTunes’ of trading world

Date: 
May 23, 2012

Chicago – OptionsCity Software, a leading provider of electronic trading solutions,announced today that it has launched Algo Store™, an online algorithm repository and collaborative environment that provides a market for traders and developers to create, purchase, and download trading algorithms, available at algostore.optionscity.com.

Through Algo Store, third-party developers are able to write and sell their self-authored algorithms, or components of algorithms, to traders around the world. The communal aspect is bolstered by the inclusion of developer profiles, a ratings system, an interactive social forum, and the prospect to become an OptionsCity Certified Developer™, a title granted to top-rated quantitative analysts and developers.

“Rightly so, traders are protective of their algo trading strategies,” remarked Hazem Dawani, CEO of OptionsCity. “Algo Store will change the way algorithmic development is done; in addition to offering full execution and analysis algorithms, it will provide developers with the components for basic functions, allowing for faster creation of complex algorithms and reducing their time-to-market.”

Current users of OptionsCity’s algorithmic trading platform, Freeway, will gain full access to Algo Store and will be able to search for algorithms by price, category, and popularity on the Algo Store website then upload those algorithms seamlessly to their existing trading infrastructure for immediate testing and deployment. Algo Store also provides Freeway clients – at no cost – with sophisticated algorithm samples, such as delta and gamma hedging, opportunity detection, quoting algorithms, and auto spreaders.

OptionsCity Metro users also have the ability to customize their options trading platform through a variety of widgets available on Algo Store. Users who are not OptionsCity Metro or Freeway clients will have view-only access to the site, and can join at algostore.optionscity.com.

NOTE: OptionsCity will be presenting a workshop detailing the full development-to-deployment cycle accomplished with Algo Store and Freeway at the Chicago Algorithmic Trading Conference: for Developers, by Developers on June 7th. For more information please visit www.optionscity.com or call 312.906.7831.

About OptionsCity Software Inc.

As developers of the award-winning Metro electronic trading and market-making platform, Chicago-based OptionsCity Software has helped options traders make markets and trade on the world's leading derivative markets since 2006. OptionsCity continues to innovate with the development of Freeway, a multi-asset trading platform designed to build, test, and deploy algorithms with micro-second execution. OptionsCity products are built on power, speed and reliability that options traders require to have full control over trading, safety, and risk management. OptionsCity is a certified Independent Software Vendor on leading global derivative exchanges and markets. For more information, please visit www.optionscity.com.

Contact: Kim Pike

Phone: (312) 376-8395

Email: kpike@optionscity.com

 

Disclaimer

This press release contains forward-looking statements with the exception of historical information. The matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. All trademarks are properties of their respective owners.

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