Devexperts - Financial Software Developer for Brokerage and Exchanges

TD Ameritrade

thinkpipes

thinkpipes trading platform by TD Ameritrade is a cross-platform Java-based software application designed for institutional money managers, market makers, hedge fund managers, and active traders specialized in professional stock, futures, and options online trading. As a corporate trading solution, the platform is adapted to huge trading volumes and high concentration of funds in user accounts. The application features smart execution strategies, advanced level II display, customized reporting, precise position analysis, rule-based trading, real-time data feeds, and even more functionality based on the latest and innovative technology trends.

Comprehensive functionality for professional trading in a single application system

thinkpipes trading platform includes a full range of professional software tools for front-, middle-, back- offices and risk management, highly intuitive interface, customizable software environment, providing institutional investment companies with the most beneficial business practices.

White-Labeling - easy way to enter institutional brokerage

Flexible application architecture enables to effortlessly develop any number of white-labeled versions of the system applications. It takes only 1 or 2 days to replace all application names and skins according to your partners’ requirements without additional development costs. This approach allows you to implement and provide your brokerage services to white-labeling partners using thinkorswim’ professional trading platform in the most cost-effective way.

Customizable application environment

The platform is empowered by the most intelligent interface that can be finely tuned to suit individual requirement of traders, risk managers, and back-office people. The application enables dealing-desk people to view client’s accounts in a single application window providing the most convenient control over trading activity of each user. All embedded functionality is just a click away within the main application window.

Cost-effective integration with all markets and executing brokers

thinkpipes trading platform is broker and clearing firm neutral, non-conflict and anonymous by choice and can be configured to work with all major executing brokers; and fix protocol connectivity provides cost-effective, direct access to any number of local and global markets required for your business activities.

Advanced order management technology

The Order Management System is specially integrated into the platform to provide both manual and automated order processing of more than 100 orders per second, careful supervision over each stage of order routing and detailed reporting on order execution.

Fully integrated workplace

The platform provides institutional investors with a wide range of advanced trading functionality, including powerful charting module, market-making support, portfolio and risk analysis, smart order execution strategies, and many others.

Comprehensive portfolio analysis

Real-time view of the user’s positions and customizable set of analytical information enable to aggregate positions across multiple accounts, filter them, monitor beta-weighted deltas and on-line margin requirements.

Multiple order types

The platform supports regular order types such as Market, Limit, Stop, Stop Limit as well as wide variety of algorithmic, contingent and risk based strategy orders. The full list contains more than 50 order types available for routing.

Smart order routing

The platform features built-in system execution strategies and algorithms to enable significant improvement in the cost of executing option strategies through limitation of risk specified by a user.

Real-time Quotes

The platform is capable to display live quotes that accompany risk analysis and order entry in a variety of screen layouts including dynamic tickers, option montage layouts, and level ii. Any quote can be used to enter a trade.

Market-making support

Advanced level II display to show user orders as compared with regional and national best bid and offer, and an option to supply and manage user’s own option pricing algorithms and parameters allow independent market making.

Custom volatility skews

Customizable volatility models are embedded into the platform to improve risk analysis and provide independent option pricing. The custom volatility skews can be bound to the movements of the underlying and the ATM volatility or even morph between different curves set for different levels.

Advanced analytics

Any position or an entire portfolio across multiple accounts can be analyzed in graphical and grid forms by building three-dimensional plots of performance and risk factors under different market conditions. The same tools can be used to analyze simulated and mixed portfolios.

Real-time risk analysis

All analytical values whether it be portfolio risk factors or option valuations are updated in real time with respect to the movements in underlying and option prices, as well as changes in the portfolios. User can also monitor live buying power and margin, including strategy-based and risk-based calculations.

Advanced option strategies

Advanced users can route custom spreads constructed by one of a number of visual methods so that it only takes a few clicks to build a standard multileg strategy, such as iron condor.

Direct access to all markets

Users can instantly route orders to a number of exchanges using custom exchange groups or sweeping across regional quote views, as the system provides direct market access (DMA) in equities, options, and futures, featuring full support for exchange and broker-supported order types and additional settings.

Powerful charting engine

thinkpipes trading platform includes a powerful charting engine that supports both historical and live data, and is fully integrated into the system. The application also provides access to the full history of market data for as much as 20 years back. The data can be retrieved with a convenient query interface, or used onsite to test trading strategies, or run advanced analysis algorithms.

Broker neutral

Users can route orders to any one of the major executing brokers and benefit from special commission rates and additional liquidity. The routing choices are subject to a flexible rule-based configuration.

Easy integration of third party tools via DDE API

A large variety of in-house and third party tools based on Excel and VBA can be integrated with the platform to receive market information and position metrics and submit trades.

FIX API for effortless integration with any platform

The platform can be integrated with any kind of an automated trading system capable of issuing orders via the standard FIX protocol. The orders received over FIX are entered into user accounts and executed along the same rules as those submitted from the application. Users can monitor their risks and performance using the application while generating the trades over FIX.

Advanced rule-based order routing

The routing choices and order entry parameters available to each user are defined by a set of routing rules configured from within the application. The rules constrain the options supported or entitled by brokers and exchanges, define the default values for various choices, and enable dynamic routing based on all kinds of order parameters.

Offsetting and spread legging

Every order submitted to a trade desk can be sliced into any portions and routed to the full set of destinations available to the operator. Dealing desk managers can use order types and algorithms provided by the exchanges, brokers, or the system. All fills received for a dealer’s orders are automatically displayed in the accounts associated with initial user orders.

Manual/algorithmic allocation

Any execution or a set of executions even coming from different orders can be merged or split into any number of portions and distributed between different accounts. Dealing desk managers can manually enter the quantities for target accounts or use predefined algorithms such as proportion to the money available or specifying a target delta. The same algorithms can be used to calculate the quantity needed before sending the order.

Feature-rich order management

Dealing desk managers can implement a number of order handling scenarios ranging from monitoring and troubleshooting of electronic orders to fully manual execution in OMS style. The system also supports handling of phone orders, diversion of trades, and in-depth analysis of order processing history.

Real-time risk management

 

Multiple risk models

Risk managers can choose one of the predefined option pricing models or use their own to determine risk factors and model market movements. A wide range of customizable margin calculation algorithms is also supported to be chosen on per-account basis.

Real time calculations

All analytical values whether it be portfolio risk factors or option valuations are updated in real time with respect to the movements in underlying and option prices, as well as changes in the portfolios. User can also monitor live buying power and margin, including strategy-based and risk-based calculations.

On-line adjustments

Authorized users can make instant adjustments to the user cash balance, positions, and available money to solve current issues. It is also possible to modify margining settings intraday.

OTC management

Back office managers can manually add records about external orders, trades, and securities of all types including options. It is also possible to import this information in real time or via batch processing.

Auto/manual maintenance of dictionaries

An easy to use but powerful interface is provided for reconciliation of accounts between the system, the clearing firms, and third-party software. Users can import data from multiple formats, match it to different subsets of accounts and date ranges, and view the discrepancies. The system automatically generates adjustments if user wishes to accept the data imported. The same process can be performed automatically based on a flexible schedule and on data handling rules.

Auto/manual reconciliation

thinkpipes trading platform includes a set of tools to maintain the complex structure of dictionaries required for derivatives trading. The system allows managing of service data, such as lists of instruments and specifications.

Reporting

 

OATS

The application is fully compliant with NASD and SEC requirements in terms of audit trails and activity reporting. Generation of OATS reports is fully automated.

Multiple clearing firms

Users can choose from a range of predefined report formats that match the requirements of most popular clearing firms. For those missing there is a custom report builder that lets the user define their own formats.

Custom report builder

A user-friendly wizard tool can be used to design a custom report format. User can select the types of records to be included, the set of fields, and the format of each field including custom value mappings. The resulting report template can then be used to generate reports for different sets of accounts manually or on a schedule.

The application receives and distributes quotes from all US stock, option, and futures markets in real time. To meet these requirements the system processes up to 1 000 000 incoming messages per second on 1U box and distributes up to five million messages per second.

Multiple quote vendors

Dedicated high performance integration modules let the application receive market data from multiple different vendors both exchange related and independent. This allows for redundancy and full access to all kinds of information.

Customizable links to financial organizations

thinkpipes trading platform is a generic solution and can be integrated with any API providing financial institution, news or analytical agency, or other organization if needed.

FIX API connectivity

A standards-based FIX API is provided for clients who want to automate their trading or use third-party tools to enter orders and monitor their portfolios. In addition to the standard execution functionality the API provides access to market data, live positions, and account equity.

FAST API

The application provides access to a wide range of market data sources, security profiles, and other accompanying information via the industry standard FAST protocol. Use of FAST allows for zero effort integration, maximum bandwidth efficiency, and reduced hardware expenses. The customer is free to choose from a variety of standard implementations.

Direct links to exchanges

The application benefits from direct integration with the electronic order matching systems of exchanges. This integration guarantees minimum delays and full protection of investor activities.

Links to major brokers

Users can take advantage of a wide range of algorithmic order types, advanced execution instructions, and smart routing features of the world-leading executing brokers. The most efficient liquidity providers are also available as routing destinations minimizing commissions and market impact.

Clients

thinkorswim by TDA GAIN Capital CFH Group tradable MONEX Group LAC Japan
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