GDC deploys Itiviti’s solution for options market making in China

Itiviti and ULLINK, the recently merged global provider of multi-asset trading technology and financial infrastructure, have just announced that Galaxy Derivatives Company (GDC) has implemented Itiviti’s trading solution for options market making on Zhengzhou Commodity Exchange (ZCE) and Dalian Commodity Exchange (DCE).

Since 2015, Galaxy Futures Co. Ltd. and Itiviti have co-operated to provide high-speed connectivity to Chinese Exchanges, facilitating trading for their mutual clients via Galaxy Futures’ memberships. Acknowledging the scale Itiviti’s solutions provide, Galaxy recently extended the use of Itiviti’s technology to GDC, its market making business division, to support the expanding options market in China. GDC is market making white sugar options on ZCE and making markets for soybean meal options on DCE using Itiviti’s trading platform.

By leveraging Itiviti’s technology and expertise, Galaxy Futures and now also GDC gain a competitive edge in the market,” commented Aleck Wu, General Manager, Galaxy Derivatives Company. “Having worked with Itiviti over the years, we have great confidence in their technology and expert team. Itiviti’s solutions enhance the trading capabilities of our new unit as well as the strength of our agency based offering in terms of the connectivity and execution management tools we can offer our clients. Importantly, the system is also flexible enough to accommodate the ever-evolving trading and regulatory landscapes in China. We really look forward to continuing working with Itiviti to grow our business.

Aleck and his team’s vision has been the foundation of our relationship with Galaxy, for the expansion of their business and use of Itiviti’s technology,” said Dennis Chen, VP Sales APAC, Itiviti. “We are happy to learn that GDC has simultaneously been awarded the title of Best Market Maker by both ZCE and DCE, and sincerely wish the GDC team every success and look forward to continuing to provide technology that enables them to capitalize on market opportunities in China and abroad.

Itiviti’s trading platform addresses the present and future challenges of market makers, including the need for low-latency quoting and to efficiently reach multiple markets using a single interface. It adds key features for sophisticated volatility and pricing management, including a rich volatility management interface and a Volatility Model API, which facilitates the development of proprietary volatility models.

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