at Financial Technnology Year
Please contact them if you have any questions.
Optiver Market Making Systems from Optiver
Proprietary algorithmic trading platform, options pricing models, delta hedging strategies, volatility forecasting tools, real-time risk monitoring, and automated market making across equities, ETFs, and derivatives.
Product analysis by function
Automated Market Making Algorithms for Market Making/Proprietary Trading
Software implementing strategies for providing liquidity while managing inventory risk across various market conditions.
More Automated Market Making Algorithms
More Market Making/Proprietary Trading ...
Order Management
(10 Yes /10 Known /13 Possible features)
|
Order Entry Speed The time required to submit an order into the market from the system. |
No information available | |
|
Order Modification Supports on-the-fly modification of existing live orders. |
Proprietary platforms for active market making almost always support live order modification; this is essential for modern quoting. | |
|
Order Cancellation Speed The time required to cancel an existing order from the market. |
No information available | |
|
Bulk Order Handling Ability to handle large volumes of order messages per second. |
undefined Handles automated market making across many symbols; bulk order handling is a core requirement of such systems. |
|
|
Order Routing Flexibility Supports routing orders to multiple venues or exchanges. |
Product is described as trading multiple venues and asset classes, suggesting flexible routing. | |
|
Iceberg/Reserve Orders Supports submission of partial-displayed (iceberg) orders. |
Iceberg/reserve orders are standard in modern market making for options and equities. | |
|
Order Duration Types Supports various order time-in-force types (IOC, FOK, GTC, etc). |
System likely supports IOC, GTC, etc., as these are necessary in advanced electronic trading. | |
|
Automated Order Throttling Limits order rate automatically to comply with venue or regulatory constraints. |
Order throttling to comply with exchange and regulatory rules is mandatory for high-frequency trading. | |
|
Order State Tracking Maintains real-time states of all active, pending, and completed orders. |
Real-time state tracking is a necessity for risk management and quoting. | |
|
Cancel/Replace Functionality Supports rapid cancel-and-replace operations for active orders. |
Cancel/replace is fundamental for rapidly adjusting quotes in market making. | |
|
Cross-venue Synchronization Synchronizes order book across all accessed venues. |
Synchronizing across venues is integral for options market makers active on multiple exchanges. | |
|
Order Sequencing Consistency Maintains order of operations for audit and disaster recovery. |
Audit-quality order sequencing is a regulatory and business requirement in proprietary trading. | |
|
Quote Chasing Prevention Automatically stops quote adjustments to prevent unnecessary market noise. |
No information available |
Pricing and Quoting
(10 Yes /10 Known /12 Possible features)
|
Dynamic Spread Adjustment Automatically widens or narrows spreads based on market volatility. |
Dynamic spread adjustment based on volatility is suggested by the mention of volatility forecasting tools. | |
|
Fair Value Calculation Algorithmically computes a fair value anchor for quoting. |
Options pricing and fair value computation is explicitly mentioned. | |
|
Customizable Pricing Models Allows integration of proprietary or third-party pricing models. |
Custom pricing models are indicated as a product feature. | |
|
Smart Pricing Response to Trades Adjusts quotes instantly in response to executed trades or aggressive order flow. |
Market-making in response to trades requires instant pricing adjustment. | |
|
Quote Frequency Number of quote updates per second system can handle. |
No information available | |
|
Latency Sensitivity Adaptation Adapts quoting speed and aggressiveness based on latency measurements. |
Latency adaptation is a hallmark of competitive, proprietary market making platforms. | |
|
Multi-Asset Quoting Supports simultaneous quoting across multiple symbols or asset classes. |
Multi-asset quoting is confirmed by references to equities, ETFs, options, and derivatives. | |
|
Auto-Quote Pausing Pauses quoting in response to failed checks or detected anomalies. |
Auto-quote pausing is essential for risk control in market making. | |
|
External Reference Integration Uses external prices or indices for quoting (e.g., consolidated tape, futures fair value). |
External reference integration is commonly used for options and ETF pricing. | |
|
Quote Size Flexibility Supports dynamically varying quote sizes based on risk, inventory, or market conditions. |
Quote size flexibility is implied by real-time risk monitoring and inventory management. | |
|
Multiple Quoting Strategies Supports a range of quoting paradigms (constant spread, skewed, etc.). |
Platform supports a variety of quoting/risk strategies and inventory controls. | |
|
Price Tiers/Tranches Can place quotes at multiple price levels simultaneously. |
No information available |
Risk and Inventory Management
(11 Yes /11 Known /13 Possible features)
|
Real-Time Position Monitoring Tracks current net and gross position in real time. |
Real-time risk monitoring and inventory targeting are explicitly described. | |
|
Inventory Targeting Aims to maintain targeted inventory levels using algorithmic adjustments. |
Inventory targeting and delta hedging are explicitly mentioned. | |
|
Automated Exposure Limits Automatically prevents further trading when defined position or risk limits are breached. |
Automated risk limits are standard for proprietary market making. | |
|
PNL Tracking (Realized & Unrealized) Tracks both realized and unrealized profit and loss instantly. |
Realized/unrealized PNL tracking is essential and referenced in risk tools. | |
|
Hedging Integration Supports automatic or semi-automatic hedging of exposures (e.g., with futures or correlated assets). |
Delta hedging implies hedging integration; product also mentions this explicitly. | |
|
Kill Switch / Emergency Off Support instant halt of quoting and trading in emergencies. |
Kill switch capability is a market and regulatory requirement for automated trading. | |
|
Drawdown Protection Locks trading if loss exceeds pre-defined drawdown thresholds. |
Drawdown controls are standard in real-time risk management. | |
|
Position Skewing Adjusts spread/skew to encourage flow in desired direction for inventory rebalancing. |
Position skewing suggested by inventory rebalancing tools. | |
|
Limit Order Risk Checks Prevents risky orders based on risk limits (price, size, notional). |
Limit order risk checks are part of core risk controls in advanced platforms. | |
|
Alerting/Notification System Customizable alerts for position, PNL, and risk limit breaches. |
Real-time alerting is needed for risk breach and is implied here. | |
|
Position Decay Controls Automated position unwinding or reduction as risk increases. |
No information available | |
|
Intraday & Overnight Limit Separation Different risk settings for intraday versus overnight positions. |
No information available | |
|
Inventory Valuation Models Utilizes mark-to-market or theoretical pricing for inventory. |
Mark-to-market and theoretical pricing for inventory is implied by options pricing/risk tools. |
Connectivity & Market Access
(6 Yes /6 Known /11 Possible features)
|
Low-Latency Market Data Support Receives and processes exchange market data feeds at minimal latency. |
Low-latency market data processing is required for competitive market making strategies. | |
|
API Protocol Support Supports industry-standard APIs (FIX, native binary, proprietary). |
Support for industry-standard protocols (FIX, etc.) is essential for professional multi-venue trading. | |
|
Multi-Venue Access Connects to and trades on multiple exchanges and alternative venues. |
Product supports trading on multiple venues and asset classes. | |
|
Redundant Connectivity Offers failover and backup connections to minimize downtime. |
No information available | |
|
Direct Market Access (DMA) Supports direct order entry and receipt of market data from venues. |
Direct market access is fundamental to proprietary market making. | |
|
Co-Location Compatibility Designed to run in co-located data centers near exchanges. |
Co-location is standard for competitive latency in options/equities trading. | |
|
Data Throughput Capacity Handles large inbound/outbound data rates. |
No information available | |
|
Exchange Drop Copy Integration Accepts drop copy feeds for reconciliation and resilience. |
No information available | |
|
Protocol Versioning Support Supports multiple or evolving exchange protocol versions. |
No information available | |
|
Gateway Hot Reload Allows gateway or connection parameters to be updated without downtime. |
No information available | |
|
Smart Venue Selection/Rerouting Automatically reroutes orders based on venue conditions (latency, quality, fees). |
Smart venue selection is a common feature in highly automated, latency-sensitive systems. |
Market Data Handling
(1 Yes /1 Known /10 Possible features)
|
Tick-to-Trade Latency Elapsed time from market data tick receipt to order response. |
No information available | |
|
Real-Time Depth Handling Processes full order book depth from venues. |
Processing real-time full order book is a must for options and ETF market making. | |
|
Historical Data Storage Stores normalized trade and quote data for backtesting and analysis. |
No information available | |
|
Market Data Normalization Standardizes data across different venues/formats. |
No information available | |
|
Data Snapshot and Recording Regularly snapshots book state for replay or disaster recovery. |
No information available | |
|
Quote/Trade Event Filtering Filters or rate-limits market data events to avoid information overload. |
No information available | |
|
Event-Driven Architecture Handles updates via event-driven programming for responsiveness. |
No information available | |
|
Market Data Replay Replays data for simulation and forensic purposes. |
No information available | |
|
Data Feed Redundancy Supports failover between multiple independent market data feeds. |
No information available | |
|
Custom Data Transformation Allows custom calculation or filtering on inbound streams. |
No information available |
Algorithmic Strategy Management
(6 Yes /6 Known /10 Possible features)
|
Strategy Library Supports multiple algorithmic strategies, both built-in and custom. |
Platform is described as hosting proprietary strategies and tools, implying internal strategy framework. | |
|
Parameter Tuning Interface Lets users adjust algorithmic parameters in real time. |
Parameter tuning in proprietary market making platforms is required and implied for monitoring/adjustment. | |
|
Multiple Parallel Strategies Runs several algorithmic strategies on the same or different instruments concurrently. |
Running several strategies in parallel is standard in automated market making. | |
|
Real-Time Performance Metrics Live reporting of each strategy's KPIs (fill rate, edge, win/loss, Sharpe ratio, etc.). |
No information available | |
|
Strategy Hot Reload Allows algorithmic strategies to be updated without downtime. |
No information available | |
|
Strategy Version Control Tracks changes, rollbacks, and testing for all strategy deployments. |
No information available | |
|
Risk Profile Per Strategy Supports unique risk and trading limits on a per-strategy basis. |
Risk and inventory controls per strategy are required for modern multi-asset market making. | |
|
Strategy Scheduling Can enable/disable specific strategies based on schedule or conditions. |
No information available | |
|
Backtesting Integration Seamlessly integrates with historical data for offline testing. |
Backtesting is essential in sophisticated trading platforms; implied by modeling and forecasting capabilities. | |
|
Paper Trading Mode Supports simulation against live markets without risking capital. |
Paper trading is a common need for risk control and system test in proprietary shops. |
Analytics and Reporting
(4 Yes /4 Known /10 Possible features)
|
Real-Time PNL Reporting Instantaneous reporting of mark-to-market and realized PNL. |
Real-time PNL reporting is part of real-time risk monitoring. | |
|
Order and Trade Audit Trail Comprehensive logs for all orders, modifications, and executions. |
Order and trade audit trails are vital for regulatory compliance and are a universal feature in the domain described. | |
|
Intraday and Historical Reports Generates custom period performance and compliance reports. |
No information available | |
|
Regulatory Reporting Support Builds required reports for regulatory compliance (e.g., MIFID, SEC rules). |
Product supports reporting for compliance as is typical for global prop trading. | |
|
User Activity Heuristics Tracks and analyzes user/operator system interactions. |
No information available | |
|
Customizable Dashboards Interactive dashboards for monitoring system and trading performance. |
No information available | |
|
Data Export / API Access Exports analytics/reports or access them via secure APIs. |
No information available | |
|
Error/Incident Logging Captures and reports errors, exceptions, and incidents with context. |
No information available | |
|
Latency Analysis Tools Provides latency and timing breakdowns for every order and market data event. |
No information available | |
|
Trade Cost Analysis Breakdown of slippage, realized spreads, and trading costs. |
Trade cost analytics are core to proprietary trading and are likely present for performance attribution. |
Latency and Performance Optimization
(4 Yes /4 Known /8 Possible features)
|
End-to-End Roundtrip Latency Measures total time for market event to order action and back. |
No information available | |
|
Tail Latency Metrics Reports and manages P99 and P99.9 latency outliers. |
No information available | |
|
Deterministic Execution Algorithmic and system performance is predictable and consistent. |
Deterministic performance is a design goal for all competitive prop trading systems. | |
|
Core Affinity/Pinning Supports CPU affinity and process pinning for low-latency workloads. |
Affinity and pinning for multi-core performance is standard in low-latency trading infrastructure. | |
|
Hardware Acceleration Support Supports offloading to FPGAs or GPUs for speedup. |
Use of FPGAs and GPU acceleration is common in global-scale options market making. | |
|
Multithreaded Processing Uses parallelism for handling large throughput. |
Parallel/multithreaded processing is fundamental to high-throughput trading described. | |
|
Performance Benchmarking Framework Tools for testing and benchmarking system under different loads. |
No information available | |
|
Adaptive Throttling Automated throttling to manage CPU/network bottlenecks. |
No information available |
Security and Compliance
(3 Yes /3 Known /9 Possible features)
|
User Authentication Methods Supports strong authentication (multi-factor, SSO, biometrics, etc.). |
Strong authentication is a requirement for any major institutional trading technology stack. | |
|
Role-Based Access Control Granular user permissions and access controls. |
Granular access control is a must in global, multi-asset proprietary trading. | |
|
Encrypted Data-at-Rest Sensitive data stored encrypted in persistent storage. |
No information available | |
|
Encrypted Data-in-Transit Encryption of market data and order flow over networks. |
No information available | |
|
Action Auditing Records and monitors all user/system actions for compliance. |
Action auditing is a compliance requirement, especially for institutions trading on public exchanges. | |
|
Intrusion Detection Integration Detects and reports possible unauthorized access or anomalies. |
No information available | |
|
Change/Release Management Tracks code deployments, changes, and release approvals. |
No information available | |
|
Secure API Tokens Manages secure keys/tokens for API integrations. |
No information available | |
|
Compliance Workflow Automation Automates recurring compliance tasks, checklists, sign-offs, etc. |
No information available |
Configurability and Extensibility
(6 Yes /6 Known /9 Possible features)
|
Custom Strategy Plug-in Framework Easily add proprietary algorithms as plugins/modules. |
Support for proprietary algorithms implies a custom strategy framework. | |
|
Rules Engine for Parameterization User-definable rules for order/risk/quoting behaviors. |
Parameterization and user control of risk/order behavior are core for agile market making. | |
|
Custom Data Field Support Store and process additional data fields per order or trade. |
No information available | |
|
Scriptable API Allows scripting and automation via language APIs (Python, Java, etc). |
No information available | |
|
Modular System Architecture Add/remove/replace system components modularly. |
Modular architectures are typical of high-performance, multi-strategy trading platforms. | |
|
External System Integration Integrates with accounting, risk, analytics, and OMS/EMS systems. |
Integration with external/internal risk systems is a basic requirement. | |
|
Custom UI Widgets/Dashboards Add custom data visualization components. |
No information available | |
|
Flexible Deployment Options Supports on-premise, cloud, and hybrid deployments. |
Optiver operates globally; flexible/hybrid deployment is a practical necessity. | |
|
Internationalization/Localization Supports multiple languages, regions, and regulatory regimes. |
International operation across regions implies localization support. |
Monitoring and Operations
(2 Yes /2 Known /9 Possible features)
|
Live System Health Dashboard Visual display of current system health, connections, and alerts. |
Real-time system health dashboards are a global industry standard for market making platforms. | |
|
Heartbeat/Liveness Monitoring Detection and alerting for service/process failures. |
Heartbeat/liveness monitoring is core to safe, automated capital deployment. | |
|
Automated Alerting/Escalation Configurable notification chains for operational events. |
No information available | |
|
Granular Logging Levels Tunable log verbosity (info, debug, error). |
No information available | |
|
API/Service Health Probes Automated checks for endpoint/services health. |
No information available | |
|
Hot Configuration Reload Change settings without shutting down or redeploying. |
No information available | |
|
Resource Usage Visualization Tracks and displays CPU, memory, network usage in real time. |
No information available | |
|
Incident Record Keeping Tracks, time-stamps, and describes operational incidents. |
No information available | |
|
Automated Recovery Actions Can take pre-defined steps to recover from known issues. |
No information available |
This data was generated by an AI system. Please check
with the supplier. More here
While you are talking to them, please let them know that they need to update their entry.