Cooperation of Tradovate and VeloxPro
- IT Innovations , Technical
- 09.01.2017 08:30 am
Tradovate, LLC, an online brokerage firm for active, self-directed futures traders, and financial services firm VeloxPro today announced that they have partnered to bring the new web application of VeloxPro’s Bookmap xRay to the Tradovate platform.
The move gives Tradovate clients access to VeloxPro’s unique trading tool that delivers a customizable display in the form of a dynamic, high-definition “heat map.” Bookmap xRay visualizes real-time order flow and live trade analysis information, combined with historical depth-of-market (DOM), to give traders insights into the evolution and continuously changing dynamics of the order book. By accessing Bookmap through Tradovate, Bookmap clients will, for the first time, be able to use it from their mobile devices or tablets and in a web browser, in addition to using it as a downloaded application on Windows and Mac PCs. Bookmap clients also get first-time access to unlimited commission-free futures trading through Tradovate.
The heat map records and visualizes every change in the order book by displaying it on a scale of gray shade, and the high-definition video format allows users to digest massive amounts of information according to their preferences. It is designed to give traders a clear view of how the entire limit order book and traded volume evolve over time. The brighter shades mark areas of higher liquidity. Bookmap’s charts update approximately 40 times per second, and users can zoom into the microsecond level on the heat map.
Tradovate Holdings, LLC Founder and CEO Rick Tomsic said: “Many of our clients wanted access to the innovative Bookmap xRay platform, and we have been delighted to work with VeloxPro on a rapid and smooth integration of our offerings.”
Tsachi Galanos, CEO of VeloxPro, said: “We’re excited about this relationship with Tradovate as our first partner to offer a live web-based version of Bookmap xRay, which gives traders faster and deeper insights into live market dynamics and short-term price action. We view the web as the future for our product, and we intend to keep adding new functionality and analytics to benefit our users. Bookmap is the pioneer tool to enable traders to see all depth-of-market activity via a heat map, and just as Tradovate has recognized with its advanced, cloud-based platform, the web is where most traders will be. It’s been very easy to work with both the technology and commercial teams at Tradovate, and we are thrilled that through this partnership, our product is now available on mobile and other devices without any need to download the platform.”
Tradovate President Ryan Hansen said: “We are excited to bring the Bookmap xRay product to market in Tradovate. This is the first time we have worked with a partner to embed third-party tools that will be accessible across all versions of our platform. Tradovate provides futures trading from anywhere, and now – with Bookmap xRay on Tradovate – traders can see order flow from anywhere too.”
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.