Rival Systems Partners with Budo Group for Electronic Market Making

The firm has teamed up with Budo's Agricultural Options on Futures Trading Group and will adopt its derivatives platform.

Chicago-based Rival Systems, a trading software company, today announced that an Agricultural Options Trading desk within the Budo Group has chosen Rival Trader for its electronic market-making and trading activities.

Budo Group is a technology-forward, multi-strategy trading firm with a focus on futures options market making and technology that drives modern day trading. The company is a 106J member at the CME, CBOT and NYMEX, and participates extensively in the ICE Markets and global futures markets.

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The decision to adopt the derivatives front-end platform followed an extensive search by Budo to find an advanced platform with optimal speed and features, backed by robust analytics and strong support.

Rival Trader

Rival Systems empowers professional traders with the technology and resources required to compete in today’s markets. Its comprehensive technology solution includes Rival Trader, a sophisticated derivatives trading system, Rival API, an algorithmic strategy development framework and Rival Risk, an enterprise risk management tool.

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We’re excited for the opportunity to work with Budo in supporting their trading efforts.

Rival Trader’s Auto-Quoting and Electronic Eye functionality allows users to make and take option markets based on parameters they set around theoretical values. The Eye and Auto-Quoter settings are adaptive and customisable, allowing the group to vary techniques, move quickly and adjust as necessary, and offering the opportunity to be aggressive or selective in their approach.

Rival Trader’s contingent order functionality provides a new capability and is especially useful in markets that are not always liquid. Rival also fulfils the need for a strong request-for-quote (RFQ) interface, a key feature for agricultural options.

Rival Systems CEO Robert D’Arco commented: “Traders who come from larger firms with proprietary platforms have unique demands and expectations that most off-the-shelf software can’t meet. With the launch of Rival Trader last year, traders migrating off proprietary platforms now have access to a system with the speed, functionality, analytics and expert support necessary to fulfill their needs. We’re excited for the opportunity to work with Budo in supporting their trading efforts as we continue to develop new features for our user community.”

 

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