FlexOPT is an options trading system for both buyside and sellside institutions engaged in agency, facilitation and/or proprietary trading. The system provides you with direct access to all options exchanges, leading broker algorithms, fully customizable algorithms and various options trading strategies, such as dispersion trading, volatility trading and cross asset trading for quantitative trading, order management and execution management.
FlexOPT supports multi-leg exchange-defined-spreads (EDS) as well as algorithmic slice-and-dice user-defined-spreads (UDS). And with the system's built-in options pricing models, risk can be monitored by you (and your risk manager) in real-time using the calculated Greeks and/or by integrating with your own risk management system. FlexOPT also allows you to automatically stay delta-neutral, and when you are long volatility, to engage in automated gamma scalping.
FlexOPT offers a comprehensive order management system, which covers sales trading, position keeping, post-trade allocations, GTC orders, compliance reports and the ability to receive FIX-based single leg and multi-leg orders.
With FlexOPT, sellside institutions can also offer a comprehensive suite of Best Execution algorithms for single as well as multi-leg orders with or without a stock component.
Features / Benefits
- Aggregates options liquidity from all exchanges on one platform. Trade equity, index, ETF, futures and FX.
- View real-time streaming prices and sizes.
- Write custom algorithmic trading rules with a choice of pricing models, including Black-Scholes, Binomial, Barone-Adesi & Whaley or one of your own convexity models.
- One-click trading for single options or multi-leg strategies. Trade spreads, butterflies, condors, and more at the click of a button.
- A powerful rules-based trading platform allows you to react automatically to changing markets. Whether you are long volatility or short volatility, let the rules trade as often or as infrequently as desired to maintain a hedged or un-hedged position.
- Rules-based strategies provide algorithmic executions and automated pseudo market-making in either price or volatility terms. Traders can bid 20% volatility and offer 30% volatility with the system automatically replacing orders in reaction to movements in the underlying security or to changes in interest-rate policy.
- FlexOPT is fully integrated with the FlexTrade's equity, futures, and FX trading systems, giving traders the ability to control risk across multiple asset classes.
- Real-time Greeks calculations (delta, gamma, theta and vega), which are fundamental for both trading and risk management.
- Dispersion trading via the platform's inherent basket trading capabilities.
- Grouping by underlying or user-defined for exposure monitoring.
- In-bound FIX interface for DMA or multi-legcontingent orders.
- Single option multi-market display and control.
- Option matrix multi-market display and control.
- Integrated smart order routing and sweeping.
- Also comes in a non-trading version for risk managers who need to monitor risk across multiple asset classes from all of their traders.