PRICING AND RISK
MANAGEMENT YOU
CAN COUNT ON
Fast and Simple Trading
• See detailed option spread information simply by selecting options from the
pricing list. Using our patented technology, you can quickly create options
spreads by clicking on the options sheet.
• Keep an up-to-date list of all straddle values for quick reference.
• As futures prices or option parameters change, your option pricing sheets and
risk calculations are updated in real time.
Convenience, Efficiency and Accuracy
• Quickly add trades to simultaneously update risk and submit to exchange
clearing systems. There’s no need to write up a separate trade card or ticket.
• Save commonly quoted option spreads to a watch list. Alerts can be set to
highlight potential trading opportunities.
Flexibility to Make WhenTech Markets® Your Own
• The user interface is completely customizable, making it easy to optimize
whether you are running on a tablet or on a desktop with multiple monitors.
Windows can be docked or floating, visible or hidden (visible on demand).
• Option pricing sheets can be customized with a wide range of strikes, colors,
fonts, positions and risks.
Unparalleled Analytics and Risk Management
• Option pricing sheets show net option positions by strike in real time. Click on
a position value to see a breakdown by call/put and by commodity. Positions
in related options such as European, American and Asian options on the same
product can be combined to give you a more complete picture of your overall risk.
• Overall options risk can be displayed while allowing you to drill down to
deeper layers of detail on command.
• Position greeks are updated in real time so that you always have a complete
and accurate picture of your overall risks. Click on a greek value to get a percontract breakdown of the risk.
Tight Integration with ICE technologies
• See WhenTech valuations in WebICE and ICE Chat to recognize market
opportunities.
• Use WhenTech’s patented method to create spreads and submit RFQs
directly to WebICE.
• ICE trades drop directly in to WhenTech for instantaneous risk updates.
• Connects directly to ICE market data for real-time pricing.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
IDENTIFY MARKET
OPPORTUNITIES —
IN REAL TIME
• Real-time options quotes appear alongside corresponding theoreticals.
• Effective use of color allows you to quickly and easily identify volatility and skew changes.
• User-customizable highlighting allows you to quickly identify potential trading opportunities.
• WhenTech’s hallmark intuitive interface design keeps the most important and critical
information visible with more details never more than a click away.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
OPTION MODELS:
SOPHISTICATED,
POWERFUL, YET
SIMPLE TO MANAGE
• Quickly and easily view and update option volatility and skews.
• Share your option parameter updates within your group in real time.
• Maintain one set of parameters for multiple related products.
• View the entire volatility surface either in 3-D or by heat map.
• Access a complete history of all parameter updates for your entire group.
• Choose from a wide variety of models or use your own custom model.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
POWERFUL TOOLS
TO ANALYZE AND
UNDERSTAND YOUR RISK
Quickly and Easily Learn:
• How much Vega and Theta risk did I add today?
• What does my position look like tomorrow? In one week? In one month?
• What happens if futures move up 20% and volatility increases 5% today? In
one week?
• What do my futures spreads look like down 10%?
• What happens if the market moves up 20% before my options expire? After
they expire?
• What is my net upside/downside extreme Delta risk across all options futures
and swaps?
• How does my position look after expiration given a mix of cash-settled and
futures-settled options and swaps?
• How many futures do I need to trade at settlement to cover my cash option/
swap expirations?
• What is my entire Vega risk across all my 20% downside options versus my
20% upside options?
• What does my position look like if I add 100 call spreads?
• What does my entire group’s risk look like?
• And much, much more
Special Tools for Risk Managers
• Powerful report scripting tools allow you to run multiple reports in an
automated fashion for fast and convenient intra-day or end-of-day reporting.
• Run reports for multiple trading groups and use any set of option parameters
for any report.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
COMPLEX DERIVATIVE
PRODUCTS MADE SIMPLE
• WhenTech Markets® supports hundreds of products listed on all major
exchanges where options or futures are traded.
• Product coverage and support are continually expanded to stay on the
leading edge of new trading trends as they appear.
• Complex products made easy by WhenTech include:
- Basis Swaps
- Inter-commodity Swaps
- Calendar Spread and Inter-commodity Spread Options
- Average Price Swaps and Options
- Swaptions
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
DOES YOUR OPTION PRICING
AND RISK MANAGEMENT
PLATFORM DO WHAT
WHENTECH MARKETS® DOES?
DOES YOUR APPLICATION?
Have a patented method of building and pricing complex
spreads and structures by simply clicking your mouse?
Connect from anywhere in the world with internet access?
Fully support the latest complex and exotic derivatives such
as average price options, options on spreads, daily and weekly
options, inter-commodity swaps, and more?
Allow you to integrate and utilize your own custom models if desired?
Automatically submit floor trades directly to exchange clearing
systems, effectively doing away with trade cards?
Manage group trading through permissioned, secure sharing
of positions and parameters?
Have fully customizable screens to let you see what you want
to see, the way you want to see it, whether you are at your
office with multiple monitors, at home, or anywhere else with a
tablet or laptop?
Match your open position versus your clearing statements with
the click of a button?
Integrate with your internal systems using a rich set of APIs?
Have support professionals who are reachable by phone, email,
IM, or even direct from the application?
Integrate directly with popular instant messaging applications
to show theoretical values directly in the IM windows?
Always add new features based on your requests, input, and
feedback?
WhenTech Markets®
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
SEAMLESS INTEGRATION
WITH YOUR SYSTEMS
• Our Order Fill Service instantaneously updates your WhenTech Markets®
position and risk for electronic futures and option trades.
• Proprietary models can be utilized on a completely confidential basis with our
Custom Model Connector.
• Market data feeds can be integrated from a variety of sources, including your
own proprietary data feed.
• Select data is continuously updated in your spreadsheets through Microsoft
RTD technology.
• Application Programming Interfaces (APIs) are available for simplified
integration with your systems in real time:
- Upload trades from your system to WhenTech Markets® with
Trade Upload Service.
- Download trades from WhenTech Markets® to your system with
Trade Retrieval Service.
- Download volatilities from WhenTech Markets® to your system
with Volatility Retrieval Service.
- Download positions from WhenTech Markets® to your system with
Position Retrieval Service.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
FLOOR TRADING IS ALIVE,
WELL—AND NOW FASTER
AND MORE EFFICIENT
• Fast, intuitive, patented method for entering spreads and structures.
• Customized layouts and functionality that can be optimized for tablet PCs.
• No more trade cards means:
- Automated submission to exchange clearing systems for trades on CBOT, CME, NYMEX,
COMEX, and ICE-U.S.
- You get back to trading faster while your competitors are still manually entering data.
- No more keypunch errors. Your risk reports reflect exactly what you entered.
• Access to electronic markets while in the ring.
• Group trading capabilities for sharing parameters or positions with your team—on and off the floor.
• Free Clerk license available.
Over 90% of New York Mercantile Exchange floor traders use WhenTech Markets®.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
CLEARING FIRMS—YOUR
JOB MADE EASIER
• Risk managers can instantly see trades, position, volatility, and other riskrelated data for customers who use WhenTech Markets®.
• P&L and risk can be viewed in real time for any trader or combination of
traders who use WhenTech Markets®.
• A powerful scripting tool allows you to run complete intra-day or end-of-day
risk report packages with a single click.
• Data can be shared directly with firm systems through:
- Simple or dynamic export to spreadsheets.
- Application Programming Interfaces (APIs) to export trades, positions, and
volatilities from system to system.
- Floor traders no longer require trade cards with front-end clearing (FEC)
integration.
- Fast, accurate entry to FEC and your system—by the traders themselves.
- No keypunching required by the clearing firm except for corrections,
modifications, and out-trades.
- Free access to view trades in real time or historically, with downloadable
data for audit trail and any other record-keeping needs.
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
SPECIAL EDITION OF
WHENTECH MARKETS®
FOR OPTIONS BROKERS
• Live markets and theoretical values updated in real time with Live Markets Pricing.
• WhenTech Markets® data accessible in industry-leading instant messaging applications
so you can see theoretical values right in your IM window.
• Ability to receive parameters broadcast from your customers who use WhenTech Markets®
• Select data continuously updated in your spreadsheets through Microsoft RTD technology
• The features you need at a low price!
For more information about WhenTech Markets®, or for a free, no-commitment trial,
contact us today or visit us at: whentech.com
WhenTech LLC
Park Avenue Plaza
55 East 52nd Street
New York, NY 10022
Sales
+1 212 323 6008
[email protected]
WHENTECH MARKETS®
FEATURES BY EDITION
Enterprise
Pro
Broker
Lite
Clerk/Risk
Manager
Options Valuation
Sophisticated options pricing models and volatility curve management with ability to price and manage
everything from basic options to exotics such as options on spreads, average price options, and swaptions.
✓
✓
✓
✓
✓
Option Pricing Sheets1
Highly customizable option pricing sheet layouts with the ability to quickly price spreads and strips right
from the options pricing sheet using our patented process.
✓
✓
✓
✓
LIMITED
Risk Management
Real-time updates of all positions and risks right on the pricing sheets. Numerous detailed risk reports
available on demand with ability to run different scenarios based on changes to volatility, futures prices,
time to expiration, and more.
✓
✓
Live Markets Pricing
Combines real-time options market quotes by strike, and corresponding theoreticals, highlighting market
opportunities.
✓
Execution Capability2
Initiate and manage electronic options and futures trades, right from WhenTech Markets®, utilizing our
integration with long-established third-party trading platforms.
✓
Real-Time Market Data3
View real-time futures prices and have futures spreads, options, theoretical prices, and risks update
automatically with changes in futures prices.
✓
✓
Clearing Integration4
Electronically submit your floor-executed trades directly to Exchange Clearing.
✓
✓
Order Fill Service
Automatic updates of trades and risks, directly provided by exchanges in real time, for electronically
executed futures and options.
✓
Valuation Service6
WhenTech Markets®–generated theoretical valuations and greeks can be viewed live on ICE Chat and
WebICE.
✓
✓
Real-Time Export to Excel
Futures prices, position deltas, and straddles can be exported live to a linked Microsoft® Excel spreadsheet
via Microsoft Real Time Data (RTD) technology.
✓
✓
Custom Models
In addition to valuations based on a wide variety of established industry models, selectable by customer
preference, there is the capability of accepting customers’ proprietary models on a completely confidential
and secure basis.
✓
Key Features
5
Web Services API
Back-office integration is available via our web-service APIs.
•Trade Upload Service
•Trade Retrieval Service
•Volatility Retrieval Service
•Position Retrieval Service
✓
✓
✓
✓
✓
All editions include unlimited Customer Support, available by phone, email, instant message, “live help” on your screen, or in person.
1. Option pricing sheet updates are not done in real time in the Clerk / Risk Manager version; however, risks and profit/loss calculations will calculate in real time.
2. Execution functionality requires clearing firm setup and authorization; any charges will be billed by your firm.
3. WhenTech makes available to users, through an association with eSignal (a wholly-owned subsidiary of Interactive Data Corporation), a real-time market
data feed that integrates with WhenTech Markets®. Market data customers execute an agreement with Interactive Data Corporation, and Interactive Data
Corporation’s user fees, along with Exchange fees are billed by WhenTech at the prevailing rates charged by each exchange, as selected by the customer.
Billing periods correspond to standard WhenTech billing periods.
4. Clearing integration is currently available on select exchanges.
5. Order Fill Service is currently available on select exchanges and requires permission from your Clearing Firm.
6. Valuation Service is available through select third-party providers.