Livevol To Add Options-Execution Platform
13 Mai 2011 - 6:48PM
Dow Jones News
Financial data provider Livevol Inc. will add options trading to
its analytics by early next year, according to company
executives.
The San Francisco-based company, best known for its
options-market data, plans to push into trade execution with a
product that will be geared at first to professionals, floor
traders and the buy side more than individual investors, they
said.
"We view this as the next-generation execution platform,"
Livevol founder and Chief Operating Officer Stefan Choy told Dow
Jones Newswires at the options industry's annual conference in
Savannah, Ga.
The new platform, dubbed "Livevol X," will allow users
real-time, pre-trade cost-of-trading options analysis, Choy said.
The trade execution builds on company's Livevol Pro application,
which launched in late 2009 and currently has about 600 users, Choy
said.
Livevol X will enter "beta" testing next month and will be fully
functional by January, Choy said.
The company's options-market execution database stretches back
seven years, which is a relatively long time in the fast-growing
options market. Livevol data is also used in exchanges' market
surveillance efforts.
The move comes nearly two months after Charles Schwab Corp.
(SCHW) bought equity-options and futures-trading company
OptionsXpress Holdings Inc. (OXPS) for $1 billion in stock in an
effort to capitalize on the growth and profits of the options
business.
-By Chris Dieterich, Dow Jones Newswires; 212-416-2611;
christopher.dieterich@dowjones.com
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