Professional market maker (options) software?

Quote from nlnico:

...Finally, nitro, is your quoting system up and running?

Thanks.
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We have used Actant and Orc to make markets, but I have not been in contact with MMing software for a good two years, so I am out of touch.

It is a large undertaking to do right. I had a large part of my own quoting system going, but I stopped it when I had other ideas of how to make money than competing with Citadel.
 
For Asia ORC must be pretty good. They provide Liquidator which is server based.

Do you have experience in pitting exstream vs liquidator for some markets?

I am facing the choice. Would possibly go with the old fashioned Actant setup.
 
Sounds familiar. Very.

As it turns out, you can also trade with Orc, even Orc Trader. But it is sooooo slow. Maybe Liquidator is better. It must be, in fact. The question is how much.
 
I found this software promising, much of Orc Liquidator flexibility, a reasonable price, with the potential for scalability since it is a client/server product.

http://www.optionscity.com/

I don't know why people don't talk more about it. This was the way I was designing my own options MMing software, but mine had even more features to make it blazingly fast and handle massive calculations over a packet of realtime data without having to incur a huge server farm cost. What I gave up was a fancy language to interface with the program, but since I was the sole person using it, and I had the source, it was a non-issue.

If you want it done right, you have to do it yourself :(
 
Quote from nitro:

If you want it done right, you have to do it yourself :( [/B]
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Thanks for the advice on optionscity, i am also looking into programming a few things myself.

I only need a mass quoting solution to meet quoting requirements. I am not looking to compete with citadel indeed.

My main focus will be on trading spreads and co.

Any advice on which programming language to start with? Still fan of CUDA? I am not convinced either that a client-server infrastructure is necessary when trading just a few markets with a limited amount of people. That looks like a way too big infrastructure to maintain when my main goal is not to be able to mass quote half of the world's index options but only pick the trades i want to do...
 
So you're starting a market making firm and asking about market making software on elite trader? If you are in fact starting a firm I would hope you have a background in the industry.

If you do then you would not be asking what your options are; especially on this or any site. You would already know.

With that said you can use the out of the box platforms, but do you think you will be competative with that solution?

You must also colocate your servers. The out of the box provider will tell you that you they are already doing that and you can sign in remotely from any distance to have the benefit of colocation. Think about that for a minute & decide whether or not that is an acceptable solution.

If your going to be making markets against the already successful market making firms in regular listed products you need to think long and hard about how you will be able to beat them because they aren't just going to move over and give market share to you because your a nice guy. They are going to figure out you're there and do whatever they need to in order to remove you. That's just the way it works.

Out of the box solutions will not keep you in business. I can promise you that.
 
Quote from GammaTheta:
So you're starting a market making firm and asking about market making software on elite trader? If you are in fact starting a firm I would hope you have a background in the industry.
If you do then you would not be asking what your options are; especially on this or any site. You would already know.
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Hey,

thanks for wasting your time on elite trader; you're probably a successful and busy options trader answering msgs at 11am while the market is down more than 1%...

According to your argumentation - and whatever i'm doing or thinking of doing - you shouldn't have answered me.

Goodbye!
 
Quote from Occam:

My info may be out of date, but I seem to recall that at least as recently as few months ago, neither NASDAQ nor ARCA charged cancel fees on US equity options orders, and NASDAQ Options took it even further by explicitly stating that any trader can make a two-sided market on their exchange on any such options trading there.
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Yes, but in that case the remaining problem is that broker commissions for directed orders are relatively high (probably most retail brokers don't even offer the possibility to direct an order).
 
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