Advanced Financial Applications (AFA) is adding an options trading capability to its IMPACT Pro platform. Phase I offers clients options trading capabilities, and is available now. Phase II, likely to be release at the end of the first quarter, will include analytics functionality
AFA will provide a window on the market, order ticket capability and an order blotter. In AFA’s options window, traders can view options contracts across six OPRA exchanges. The screens can be customized and clients can access “at the money” or “near the money” contracts. Using the preference capability traders can customize the screens and options tickets can be launched directly from the options window. The ticket enables traders to view bid and ask levels across all available options exchanges. Multi-broker and multi-route access allows for DMA to exchanges or access to smart routers available through brokers. Traders can also sweep prices across multiple exchanges. In the trade blotter, clients can view equity and options orders and executions simultaneously. A filtering feature allows users to isolate single orders or groups of orders. P&L can be viewed on a notational or Delta basis.
The firm says the new capabilities reflect a commitment to expand its position in the marketplace. The planned moves also further reflect the organic evolution of AFA from its previous position as a provider of integrated order processing to its next stage as a consultative vendor, able to offer clients expertise and deliverables designed to enhance their own strategies.
In October 2006, AFA recruited Patrick Lynch as CEO. Lynch is credited with the firm’s change of direction. “2007 is a critical year for the industry and AFA will play an important role in enabling both the buy and sell sides to grow by leveraging our expertise and technology,” he says. “Our plans to enhance current offerings, and our aggressive outreach to secure new clients will prove our value to market participants. We are truly independent in our ability to offer consultative expertise and technology to our clients, and to align our deliverables to their goals. We are building both our relationships and offerings so that clients will be more productive and efficient, and can look to use AFA as a single source for their vendor needs without taking on additional internal costs. The options offering reflects a deeper commitment to moving the firm forward strategically, and is consistent with our consultative approach.”