GL TRADE, a provider of front-to-back solutions for international financial institutions, has launched GL SCANNER, the first options strategy scanner. GL SCANNER is a hosted, server-based solution.
This new solution simulates all possible options strategies based on the client’s expected price/date of the underlying value and profitability criteria. It simulates more than 40 strategy types and ranks them according to profitability.
The GL SCANNER Server uses an XML API to connect to the broker’s in-house trading system and client’s front-end. The GL SCANNER workstation, also available, accesses the GL SCANNER Server via leased lines or internet.
GL SCANNER was launched in November 2006 in Amsterdam at Alex Beleggersbank, the biggest online broker in the Netherlands and part of Rabobank AAA.
“Alex Beleggersbank aims to help its customers make better choices for their investments,” says Marcel Kase, business development manager, Alex Beleggersbank. “With GL SCANNER we offer them a tool with which they can pick the best options strategy from thousands of possibilities, all in a split-second and according to their own criteria,” he adds. “With a single click on the order button they can execute the selected options strategy immediately,” continues Beleggersbank.
According to Herbert Robijn, managing director, GL TRADE Amsterdam, “GL SCANNER simplifies the search for the best options strategy and improves the quality and speed of the decision-making process.”