Does anyone out there use AQTOR or Orc Trader or Edge Specialists? We're currently using AQTOR, but thinking of possibly switching to one of the other two, and I'm curious what other people think of the products, particularly for equity options. I have plenty of opinions about AQTOR, but I'll reserve those so as not to spoil anyone's objectivity.
Hey, I have used Orc Trader. Have not used Edge Specialists. Across which markets are you trading? Out of what location? Happy to compare notes on ORC vs AQTOR. Cheers, Curtains.
We have some experience with Actant, ORC and MicroHedge. My partner has lots of experience with MH, and I have lots of experience with programming ORC. We will eventually look into Smile and Edge Specialist. They all have their strengths and weaknesses. I am building an options software system from scratch so that I can do whatever I want. Most of these canned software are used by people that don't know how to program, or don't have the time or resources to build their own custom solution. nitro
We currently trade equity options at the CBOE here in Chicago. We're currently using AQTOR, but not entirely thrilled with it. Much like nitro, we've been mulling building our own system, but with limited technology resources, starting from scratch isn't really an option. It would take far too long before we had a workable product. So I've been looking around at other vendors, and am possibly thinking about going with Orc Luiquidator, since we could basically have a system up and running with the Orc Trader front end on day 1, and then slowly but surely build out the pieces of our own system one by one to replace the Orc Luiquidator pieces. Nitro, I'm guessing that you're facing a similar set of issues.
Your approach is a good one. Use an existing technology like ORC liquidator to get to market fast, and slowly replicate each piece in custom software in parallel. We did this when I worked for an options market making firm, although our requirements at the time did not require liquidator, just ORC. I am not sure that my situation is like yours because I have been building software elements for years, so I can build on each piece as the need arises in new projects. What exactly are you trying to accomplish? If you would rather PM me, that is ok. nitro
Why build your own? We've already built our own to replace Actant. Here is a little snipet: http://www.vtradergroup.com/VTraderPro/VQuoter.aspx Our remote makers are in the CBOE building. If you want, I can arrange a visit for you to go by and look at what they are doing with our software. We've been developing it for 3 years. No reason to re-invent the wheel here.
"Why build your own? We've already built our own to replace Actant. Here is a little snipet:" Why? Support mainly. Customizability(is that a word?) more importantly. Any off the shelf product is going to be limited in how much of it can be customized. No matter what the vendor tells you, there is a limit thats far below what we want, and/or need.
I guess that is what I was trying to say. We are customizing it and supporting the software. Our remote market makers work directly with our programmers to customize and support the product.