Stellar spreadMachine
The Stellar spreadMachine is the ultimate cross-market cross-product spreading tool. It has established a reputation for unrivalled performance and innovation, out-performing competitor products and leading the industry with new functionality.
The spreadMachine automatically works inter-market spreads on the trader’s behalf, managing leg orders and balancing the spread as required. Complex trading strategies can be implemented, with the spreadMachine capable of executing spreads with up to 20 legs, any number of which may be working in the market.
In today’s markets automated systems frequently compete with one another. To be effective, automated spread execution demands exceptional performance. Uniquely, the Stellar spreadMachine operates at the core of the trading system – it is a server based system designed for deployment within exchange colocation facilities. This allows it to build upon the high performance order routing engine within the Stellar architecture and respond to market movement as fast as possible. The spreadMachine harnesses the power of its server hardware whilst leaving the trader’s workstation free to focus on order entry and price display.
Functional Highlights Include:
- Automatically works inter-market spreads, managing leg orders and balancing the spread as required
- Fully integrated into the Stellar Front End, making the spreadMachine simple to use and configure
- User defined multi-leg strategies traded seamlessly alongside exchange listed products
- Complex trading strategies can be implemented
- No limit to the number of spreads
- Simple and intuitive spread definition process
- All of Stellar’s powerful synthetic order types are compatible with the spreadMachine
- The Stellar architecture delivers the same consistent performance when remote spread trading
spreadMachine Orders
- Single click or ticket based order entry
- Real-time overview of order activity showing current working orders, executions, spread completion status
- Spreads can be pulled or ‘shattered’ – cancelling the spread whilst preserving any orders currently in the market, retaining order book priority
Fully Integrated into Stellar Front End
- Simple to configure and view multiple markets
- Spreads viewed in identical manner to exchange listed products – in PriceView or dynamic ladder
- Easy to use layout allowing traders to view a large number of spread markets simultaneously
Remote Spread Trading
- spreadMachine architecture delivers the same consistent performance whether from home, the office, or from overseas locations
- Speed of line or power of workstation removed from the equation
- Even if the connection is interrupted, the spreadMachine continues to work the spread safely at the exchange, responding to the market and hedging as necessary
spreadMachine Control
Range of parameters controlling spread execution:
- Multi-level sensitivity settings for control of transaction rates
- Risk ratio
- Maximum tail size
- Conditional payup ticks
- Automatic finesse
Spread Definition
- Simple and intuitive process
- Traders define a spread, specifying component legs and ratios then defining how the spreadMachine should work the spread
- No limit to the number of spreads or working legs
spreadMachine Management
Range of tools to monitor and control spreadMachine usage:
- Transaction counts monitored per trader/per exchange
- Risk manager able to define how many concurrent spreadMachine orders a trader can work at one time
- Risk manager able to limit the maximum number of working legs within each spread
