thinkorswim trading platform by TD Ameritrade is an advanced Java-based software application designed for individual futures, options, and stock online trading and the majority of its users are private traders. The solution was developed by Devexperts in 2002 and is extensively used by thinkorswim Inc. – one of the leading online brokers specializing in on-line stock and options trading in the USA. The application provides comprehensive, yet easy-to-use software functionality for private investors of all levels of trading expertise.
Feature-rich application system
thinkorswim is a fully-integrated system that provides effective and useful tools for all groups of the system users from traders to order-, risk- and account-managers, and back-office people. The solution includes advanced software interface for personal trading, as well as professional middle- and back-office tools. The trader-friendly interface, customizable environment and FIX API connectivity create the basis for the most efficient business activities.
Extensive functionality for options trading
The platform provides an extensive set of software tools for all levels of private trading and makes options trading very easy to grasp even for a beginner. The software includes powerful charting tools, advanced analytics, multiple options strategies, and algorithmic trading possibilities for the most effective personal trading.
Effortless trading from anywhere
The platform functionality is also available through a wireless software application to provide easy personal trading possibility on any pocket pc enabled device as well as Blackberry and iPhone. The mobile application is based on the same advanced technologies that are applied in the desktop version of thinkorswim trading platform.
Flexible and easy-to-use trading environment
thinkorswim trading platform is empowered with the most intelligent interface that can be easily adjusted to meet individual options, futures and stock trading style. The manager’s trade desk has the same style and layout provided for the client application to enable the most convenient control over trading activities of each client. All application tools are just a click away within the main application window.
Cost-effective integration with data vendors and executing brokers
The application receives and distributes millions of quotes per second from major stock, options and futures markets in real time and is configured to work with all major executing brokers; FIX protocol connectivity provides cost-effective, direct access to any number of local and global liquidity providers required for business activities.
In-depth displaying of market trends
thinkorswim trading platform is integrated with a sensitive charting engine providing real-time updates of market data and allows for in-depth viewing of market situation. The charting module includes more than 200 indicators, 12 paint tools, a wide range of time frames and periods.
Powerful charting engine
thinkorswim trading platform includes a powerful charting engine that supports both historical and live data, provides streaming data updates, and is fully integrated into the system. The charting module includes more than 200 indicators, 12 paint tools, a wide range of time frames and periods.
All option Greeks are calculated on the fly each time the live data is updated. Users can analyze any position or an entire portfolio in graphical and grid forms and simulate different market conditions by making changes in price and time, as well as volatility of an instrument. The same tools can be used to analyze simulated portfolios.
Real-time portfolio analysis
The real-time view of the user’s positions and a customizable set of analytical information enable to aggregate positions, filter them, monitor beta-weighted deltas and on-line margin requirements.
Users can facilitate mastery and ongoing use of the thinkorswim trading platform by trying so called “paper trading” in a safe demo mode. The paper trading version of the application provides the same set of tools and enables newcomers to open virtual accounts and trade virtual or “play” money until they are ready to start with the real trading.
Advanced options strategies
The platform allows advanced users to enter, send, and execute a wide range of option strategies (verticals, calendars, butterflies, condors, etc.) in a single mouse-click. Users can facilitate the strategy execution by building custom templates for quick entering and routing of their option strategies.
Real-time margin calculations
All analytical values whether it be portfolio risk factors or option valuations are updated in real time with respect to the movements in underlying and option prices. User can also monitor live buying power and margin, including strategy-based and risk-based calculations.
Effortless market scanning
The application is integrated with a powerful stock scanner that enables to filter stocks according to multiple parameters specified by users and current market conditions, and the built-in scanner for option strategies allows for easy and quick search of strategies required for selected stocks.
thinkorswim trading platform supports a wide range of algorithmic orders and can be customized to route them in automatic mode according to multiple parameters specified by the users. The built-in algorithms include sequences of orders and order groups when the first order or group triggers or cancels another one with ability to compute order prices.
The platform enables to determine risk factors across multiple accounts in real time. Risk managers can filter orders according to multiple parameters, view high- and low-risk orders, and monitor live buying power and margin, including strategy-based and risk-based calculations.
The application features a comprehensive trade desk interface that enables to track orders at each stage of order routing and execution. Trade desk operators can implement a number of order handling scenarios ranging from monitoring and trouble shooting of electronic orders to fully manual execution in OMS style. The system also supports handling of phone orders, diversion of trades, and in-depth analysis of order processing history.
thinkorswim trading platform provides the same interface layouts for clients and account managers. This approach enables managers to instantly grasp the situation in user accounts and ensures on-the-fly respond to user requests.
User account management
The application enables to create and edit user accounts and to change and fix various parameters for each client or account, including contact details, permissions, and various settings.
High throughput of quote processing
Advanced Devexperts technology enables the application to effortlessly process thousands of quotes per second from multiple data providers without delays and breakdowns.
Maintenance of dictionaries
thinkorswim trading platform includes a set of tools to maintain the complex structure of dictionaries required for derivatives trading. The system allows managing of service data, such as lists of instruments and specifications.
The application supports various report formats provided for users and different organization departments: sales, accounting, and marketing, as well as state assessing organizations.
The application receives and distributes quotes from all US stock, option, and futures markets in real time. To meet these requirements the system processes up to 1 000 000 incoming messages per second on 1U box and distributes up to five million messages per second.
Dedicated high performance integration modules let the application receive market data from multiple different vendors both exchange related and independent. This allows for redundancy and full access to all kinds of information.