On-exchange retail trading steps up as Tradovate makes OFA tools available on its cloud-Based Platform

Tradovate, LLC, an online brokerage firm for active, self-directed futures traders, and Order Flow Analytics™ (OFA), a data visualization company, announced today that Tradovate has integrated OFA’s analytical and algorithmic trading tools into its cloud-based platform. The move enables thousands of current OFA clients to transform their experience with the products, providing new means of access, a higher quality data delivery and the potential for significant cost savings.

Under the agreement, Tradovate is extending to OFA clients its unlimited commission-free trading and cloud-based platform, which the firm delivers without the licensing fees usually associated with trading platforms. Through Tradovate’s cloud-based technology, OFA clients will, for the first time, be able to access the tools on Mac devices and via the web. Clients of Tradovate also will have seamless access to OFA’s popular offerings, including pre-built algorithms for automated trade management and order flow tools.

OFA’s tools analyze order flow and volume as visualized in three-dimensional form to provide insight into real-time market sentiment. Rather than relying on snapshot views of price movement, the tools capture the more complex picture of today’s unfiltered tick-by-tick rapid-fire volume, designed to help traders understand market moves, improve targeting for trade entry and exit, and increase their trade conviction.

Tradovate Holdings, LLC Founder and CEO Rick Tomsic said: “We’re committed to offering our clients a wide range of valuable tools to go along with our trading platform, and OFA is an outstanding addition as our latest integration. We view this partnership as an exciting opportunity for both companies to provide a truly value-added experience for our respective users and a compelling offering to attract new clients to both organizations. Now clients of OFA can also enjoy our commission-free trading, and they can access OFA’s powerful Algo/X functionality, fully integrated within Tradovate, making management of these tools quick and easy for traders.”

D.B. Vaello, President and founder of Order Flow Analytics, said: “Tradovate is on the forefront of trading deployed on the cloud, and we’re thrilled to bring our clients this easy-to-use technology. We’ve seen tremendous demand for delivery of our product via the cloud so this opens up a whole new potential customer base for us, and it gives us the opportunity to offer our current clients a much better user experience from start to finish. What we do is so cutting edge that we need the most processing power we can get, paired with low latency execution, and Tradovate is providing us with a top-notch platform that users only need to turn on.”

Prior to the partnership with Tradovate, OFA users would download the program on computers that met specific requirements, and there could be latency issues depending on the type of computer and internet connectivity available for processing extensive data at the user’s location. Because the Tradovate development team built the OFA tool into its trading application, all of the data processing happens at a central location, vastly simplifying the user experience.

Tradovate President Ryan Hansen said: “Active traders are very focused on applying useful analytical tools to guide their trading strategies. But there is increased demand for these tools to be easy and cost-efficient to deploy. With our cloud-based approach, we can help transform the delivery of OFA’s extremely sophisticated order flow, volume visualization, trading algos and automated trade management tools, enabling users to get set up and trading very quickly. Since OFA’s algo orders are held securely on the server side before going to the respective exchange – rather than being held on the client’s computer – traders benefit from a significant reduction in point-of-failure risk.”

Tradovate is the first futures brokerage firm to offer unlimited commission-free trading for a flat price, instead of the industry-standard commission structure. Its cloud-based platform powers futures trading from anywhere and any device – all included with no platform licensing, order routing or mobile app fees.

Image: Andrew Saks-McLeod with Tradovate CEO Ryan Hansen in Chicago