London-headquartered institutional broker Tower Trading Group (TTG) has selected OptionsCity’s Metro, a low-latency futures and options trading platform deployed seamlessly via the web, to promote its options trading and market-making, according to a company statement.
OptionsCity Software is a Chicago-based provider of futures and options trading and analytics solutions, operational since 2008. The company recently updated its Metro platform to offer an in-between option to building or buying new software, and introduced Metro Now, which allows users to download task-specific widgets in the platform.
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The risk management team of TTG will also utilize Metro’s valuation models and post-execution tools across all of options markets, including those with less liquid products, to evaluate and monitor its risk on a continuous real-time basis. The modular architecture of Metro will allow TTG to scale its usage of the platform and automate its processes as business continues to grow.
Commenting on acquiring yet another customer in London, Hazem Dawani, CEO of OptionsCity, said: “We are excited to add another prestige trading firm as a customer in London and we look forward to working closely with Tower Trading Group as they roll out their deployment of Metro. We have been seeing a high demand in Europe where firms are looking for superior functionality and low-latency access to the US and European markets. The addition of Tower Trading Group is a great testament to the strength of our products.”
Jonathan Taylor, CEO of Tower Trading Group, added: “After a thorough review of options trading platforms, we chose OptionsCity Metro for its turn-key, low-latency architecture. In addition to the out-of-the-box features for trading and risk management, OptionsCity APIs will enable us to extend the platform as our operation continues to expand. OptionsCity has proven itself as a market leader. Their global connectivity, superlative trading and risk functionality, robust implementation and expert support were critical factors in the selection process.”