The 4th Annual UChicago Midwest Trading Competition took place on Saturday, April 9, 2016 at the Chicago Innovation Exchange in Hyde Park, where 25 teams from the nation's top Universities congregated to compete, network, and learn about the electronic trading industry.
This year marks the fourth consecutive year that the OptionsCity Metro platform powered the event, and the first year leveraging the powerful Widget API to produce customized displays to enhance transparency during the competition. Grant Cupps, Director of Product Management from OptionsCity, joined the panel discussion with five other firms, Belvedere Trading, Citadel, DRW Trading, IMC and Optiver.
From November 2015 through February 2016, Mitchell Berg, Software Engineer from OptionsCity, and Errol Kutan, Systems Engineer from OptionsCity, met with student leaders of UChicago's Careers in Business program to develop content for the three cases featured at the competition. It was during this time that toy trading scenarios were transformed into the software that would power the competition. The cases were released on March 1st, after which participating teams were given one month to commit their code to OptionsCity.
The competition itself ran atop a “competition layer”, developed by Mitchell that utilized various components of the Freeway API to run competitor code, deliver market data, act as a mock-exchange, and relay information about team trades, positions, p&l, and much more to front-end displays. Errol and Mitchell also developed these customized displays using OptionsCity's Widget API—a front-end counterpart of the Freeway API that allows users to develop custom Java Swing components that interact with the Metro system.
Case 1: Cross-listed shares trading
Metro is a high performance sever-based options trading platform that allows users to build and buy, taking advanced off-the-shelf software and adding a growing library of custom in-house Apps. It comes out-of-the-box with traditional Metro Apps, such as options pricing, risk management and execution, and allows users to access and download an expanding catalog of Apps from the City Store.
OptionsCity Software powers the trading, risk management and analytics needs of futures and options traders, market makers, financial institutions and other market participants worldwide. OptionsCity is a certified Independent Software Vendor and a leading source of electronic options trading volume on global derivatives exchanges. For more information, please visit www.optionscity.com.