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	OPTION TRADING & MARKET MAKING SOLUTION

Designed for Stock Options, Stock Futures, Index Futures & Options trading and market making, APFA OAPI solution comprising SOMM UI, OAPI Engine and MX Trade Lite offers connectivity with Hong Kong Futures Automated Trading System (HKATS), the electronic trading system of the Hong Kong Futures Exchange (HKFE).

KEY FEATURES

With a minimum of 1 Trader ID and 1 TCP/IP port, an OAPI Engine can get real-time prices and clearing trade details, as well as offering order functions. For speed enhancement, complemented with additional Trader ID and TCP/IP port, unlimited number of OAPI Engines can be added on the OAPI architecture. It means functions of getting quotes, getting clearing trade details and order placing can be run on three separate OAPI Engines. Other ideas like OAPI Engines dedicated for individual stock or index can also be implemented to optimize performance.

	To accomodate requirements of different users, SOMM UI has both Passive and Active Mode.
	SOMM UI in Passive Mode (i) is configured to offer quotes 5 seconds after receiving quote
	requests; (ii) calculates quotes based on the means of existing bid/offer and displayed in maximum
	price spreads; and (iii) placed quotes in the market for 11 seconds by default. Within the displaying
	period of time, the quotes will be automatically canceled if (i) the underlying spot changes; or (ii) the
	quotes are at best bid/best offer.
	SOMM UI in Active Mode (i) will change quote reply when spot price changed; (ii) can
	re-configureto check if a bid price is higher than a market offer and vice versa; and (iii) calculate
	Greeks/Risk parameters in real-time
	Allow users to us Excel Spreadsheet to define and upate price grid
	Risk control: (i) self cross trade alert; (ii) emergency bulk cancel function; (iii) checking of minimum
	trading board lot; (iv) order execution at better-filled price and (v) set credit limit
	Multiple Instruments: APFA OAPI Solution supports all instruments traded on HKFE including Index
	Futures, Options, Stock Futures and Options
	Access real-time market info and quote requests
	Web and SSL enabled

STOCK TRADING SOLUTION

WARRANT MARKET MAKING
SOLUTION

OPTION TRADING &
MARKET MAKING SOLUTION