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Cristina McEachern
Cristina McEachern
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CyBerCorp Enhances CyBerTrader 2.0 with Options Trading

CyBerCorp.com has added options trading functionality to its CyBerTrader 2.0 trading platform.

CyBerCorp.com has added options trading functionality to its proprietary CyBerTrader 2.0 trading platform. The options functionality was released in beta version to qualified customers and is scheduled for general release in about four to six weeks. The new functionality provides electronic access to all primary listed options exchanges and real-time streaming data—as well as risk and stop-loss management tools.

Clients can enter options orders on CyBerTrader 2.0, and those orders subsequently get routed by ABN Amro directly to either the Philadelphia Stock Exchange, American Stock Exchange, Chicago Board of Options or Pacific Stock Exchange. The CyBerTrader 2.0 system also features intelligent order routing to search for the best price,” says Daniel Garces, product manager for CyBerTrader 2.0.

CyBerTrader 2.0 is an integrated trading system for both equities and options. The system also enables traders to view real-time options quotes on almost 2,700 stocks, as well as 104 indices, including the Dow Jones Industrials, S&P 500 and Nasdaq 100.

“We’re offering long calls and long puts to start off with, but by the end of the year we expect to have all the different option executions available such as riding call and puts, spreads, straddles and possibly leaps,” says Garces. He adds that the options functionality can be easily accessed and “is basically a feature that can be turned on in the back office for a particular account.” The options capability is available for a $60-per-month fee, in addition to the $99 CyBerTrader monthly fee for equities trading.

The introduction of options trading functionality comes on the heels of online discount brokerage giant Charles Schwab’s recent acquisition of CyBerCorp. The deal, which is expected to close in the first quarter, calls for Schwab to acquire CyBerCorp in exchange for 13.7 million shares of its stock.

Through its software, CyBerCorp provides investors with a gateway to Nasdaq market makers and the NYSE’s SuperDOT platform, as well as to all of the SEC-approved ECNs.

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