From the September 01, 2010 issue of Futures Magazine • Subscribe!

Software review: OptionsCity Metro Version

OptionsCity Software, Inc.
200 W. Adams St. Suite 1010
Chicago, IL 60606
Phone: (312) 635-1750


PRICE: $2,500 per month for one workstation (installation is included and discounts per workstation are available).

LEVEL: Advanced/institutional

System Requirements:
The program runs on a user’s server and on a user workstation. The user's server runs on Red Hat enterprise Linux FS version 5 x64 with various software libraries. The user’s server can support desktop workstations that run using Windows XP, 7 or Vista. Requirements are detailed in the “General Hardware, Environment and Network Connectivity Requirements” list of requirements available from OptionsCity. Recommended hardware is listed at the end of the review.

Options trading, like chess, is a complicated game that is hard to master. A successful options trader needs to be an idiot savant like the Dustin Hoffman character in the movie “Rain Man,” who could remember every card played from six-deck shoe in black jack. Fortunately, savvy options traders can subscribe to OptionsCity’s Metro version instead. Metro is a very fast, powerful options evaluation and trading system built for a collaborative group effort.

Installation, Documentation and Support: 4 of 4
OptionsCity Metro is installed and configured by the OptionsCity staff. Support is excellent.

Features and Functionality: 4 of 4
OptionsCity Metro is a fully configurable electronic trading platform enabling options traders to have full control over trading, safety and risk management of what they need to do. It is designed to be an easy, innovative and efficient approach to options trading.

OptionsCity Metro has two main parts. The first, CityServer, is a powerful, sophisticated and scalable server that contains the quoting engine, theoretical value generator and position manager. It also has exchange connectivity application program interfaces with 13 U.S. options, futures and stock exchanges.

The server component, CityServer, is co-located very close to the exchanges and connects directly to it to obtain maximum speed. It performs most of the trading functions. A component of the system calculates theoretical prices, disseminates real-time quotes, implements trading strategies created by the traders, monitors and automatically reacts to market conditions, including extreme market conditions, and, if instructed, can execute trades automatically using the Auto Opportunity Response System based on triggers the traders set to respond to opportunities. It manages risk, and, if instructed, can manage the entire trading group’s exposure.

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