Mar 2007 IFS launches TT version of OrderView

OrderView has been developed by Intelligent Financial Systems and is based on our experience in developing black boxes and trading algorithms. IFS has also developed a number of web based quote vending applications on behalf of major exchange NYSEuronext.liffe, Intercontinental Exchange (ICE), CBOE, CBOT etc.

Eurex and most other derivatives exchanges do not publish the break down / clip size of the total volume or where a trader is with their working order in the queue. The developers of OrderView have built an algorithm that uses its ‘best endeavours’ to break down the clip sizes in the book and where each clip is in the queue. This is achieved by an algorithm listening to the feed pulses that the exchanges send out as updates every ¼ of a second. Order View is not 100% accurate but we believe accuracy is in the region of 80%. Traders that are using it have said that they would rather have an 80% chance of knowing this information than a 0% chance.

The benefits that traders are enjoying range from

• Spoofers - evaluate whether the paper is real or spoof by looking for large clip sizes appearing / disappearaing
• Being able to gauge probable breakdown of orders in the order book
• The ability to track their own position in the queue

The software works in conjunction with TT Trader Pro. You simply install the OrderView software on your TT box and you can then monitor clip sizes / breakdowns for any futures contracts you have access to via TT (maximum of 20 markets can be monitored at any time) The algorithm works best for FIFO rather than Pro Rata markets.

Feedback from users so far has been extremely positive; in most cases traders that have used it have said that it has stopped them doing losing trades that they usually would have done without having the knowledge / software.

“Invaluable to scalpers” Saxon Trader
“I saved on one trade what the product cost me for the year” Mercury Trader
“In today’s market you are at a disadvantage without it” TCA Trader
“No matter what style trader you are true market order breakdown is a must” Marex Trader
“Enables me to achieve those extra ticks on opening and closing of trades” Mercury Trader

Subscription to the service excluding VAT is £75 per month. The minimum contract is for 3 months.