Volcube Pro Edition

“Volcube is a win for everyone involved. It enables our senior traders to focus on trading, and our trainees to accelerate their learning. It also embeds risk management principles into the trainees’ mindset much earlier, and takes traditional mock trading techniques to the next level.”

Rohan Wilson, Volatility Trader and Training Manager, Atlantic Trading

OVERVIEW

Volcube Pro is used by professional trading firms to train new staff, junior traders and other market-facing personnel such as risk managers. Save time and money on training new option traders. Measure the performance of new hires with advanced metrics and reporting. Give your trainees access to Volcube’s most advanced option market simulator, 24/7. Watch the Volcube Pro introductory video here.

Volcube is a web-based option market simulator combined with advanced learning tools. Users can trade on the option market simulator and study options in the Volcube Learning environment which contains dozens of videos and articles about options trading and risk management. Each Volcube trading session can be studied in Replay mode or played again in Repeat mode. Every Volcube game generates useful statistical output to help trainees and their tutors to identify their strengths and weaknesses. Tutors can use various metrics to compare trainees over time and with one another. Automated reporting of group statistics enables benchmarking of performance.

FEATURES:

  • Access Volcube’s most advanced option market simulator, from Levels 1 to 10 with full Replay, Repeat, Game History and Assessment functions.
  • Private Grouping. Each firm or desk has its own private environment within the application and a private League Table of results.
  • Access to Volcube Market Mentor for all users. Intelligent, automated in-game trading instruction.
  • Access to Volcube Pro Learning environment. Watch dozens of videos about options trading and risk management in Volcube.
  • Multiplayer competitive and non-competitive trading for all group members.
  • Automated weekly and monthly Group reports. Track your trainees’ progress in fine grain detail.
  • Volcube Certfication of traders up to Level 10.
  • FREE tutor licenses for trainers, with enhanced features.

ACCESS:

Volcube is hosted as a service and is accessed via any compatible web browser. Volcube Pro users are assigned to their firm or desk’s private group and given a login. They can be trading on the Volcube option simulator in minutes. Free trials of Volcube Pro Edition are available to any financial firm, trading desk or market professional on request.

For further information, or to request a free trial of Volcube Pro Edition or to discuss pricing, please fill in the form on the right or email us at [email protected]

 

Pro Edition Updates

2.25: Released 29th July 2015 : CURRENT LIVE VERSION

  • New Multiplayer Replay facility allows groups to analyse multiplayer games in read-only fashioin, just as per single player games. Simply press the Replay button in the History tab of Group games.
  • Tutors can now increase individual players’ risk limits in the group settings to allow more able traders to push the boundaries of their trading..

2.24: Released 26 May 2015

  • We have re-built the multiplayer architecture to provide a greatly enhanced user experience. Multiplayer games should run with more players than before, more smoothly and more responsively. As this is such a large change we have introduced the feature as a Beta and kept the previous engine available. Please go ahead and use the beta version and see the difference for yourself!
  • A new Pause game feature allows games to be paused and resumed later. Paused games are available for resumption in the History tab in the new My Open Games section.
  • Assignments removed from Group Games view, except for Tutors. This has been requested to prevent Assignments already played by some group members being visible to other group members.
  • Extra help in Hedge Finder games. We’ve enhanced the help section here in response to feedback from users of the Directional Games.

2.23: Released 31 January 2015

* 3 brand new trading games, with a total of 15 levels to test your understanding of directional option trading. These test your understanding of basic payoffs, knowledge of option portfolio building and your ability to find suitable hedges for a variety of situations. Find these new games in the Game tab and hit the Directional Games button. Click the Help link within each game for support. The new games are

  • Payoff Finder : Select option trades to recreate the benchmark payoff profiles.
  • Portfolio Builder : Click trade in a simulated option market to buy or sell options and create the desired payoff profile.
  • Hedge Finder (see below): Practise…hedging directional exposures in a simulated futures market, using options for  volatility hedging,delta hedging options and creating  financed options hedges.

The Hedge Finder directional trading game

* Shared games. Games registering a TPI and played by other players in your group are now visible to all via the History screen. Use this to study other players’ trading techniques and improve your trading by studying different approaches to Volcube gameplay. You can elect for your games to be kept private if desired using a private option in Custom Play or via MySettings in your Account tab. Remember that tutors in your private group can always see all games.

* New Levels videos pertaining to Levels 1, 2 and 3 have been produced to give greater insight on what players can expect in these games.

* A new Market Conditions metric has been added to Analysis. This indicates the trading conditions up to the point when the player left the game. Benign conditions mean the market for implied volatility was conducive to profitable trading. Difficult conditions imply that providing liquidity into the market was a challenging or hazardous pursuit.

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2.22: Released 3 October, 2014 :

* Now you can trade different option types that resemble other real world options such as energy options, agricultural (grain) options, precious metals and (mini) equity index options. Simply choose your Spot Type in Custom Play. Remember to adjust your quote sizes and prices accordingly, since not all options are comparable in size. For hints on sizing, use the new…

* Custom Play hover-over help. Hover over the option labels to reveal useful hints and explanations.

* Want to practise trading but without any risk to your player TPI? Now you can! In Custom Play, toggle the TPI selector between VALID and INDICATION ONLY. The former, if you want your TPI for the game to count towards your Player TPI, the latter if you would prefer it did not but would still like to see your score for the game. A simple improvement that hopefully allows you to experiment more.

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2.21: Released 15 June, 2014

* New Detailed Report giving full insight into Group performance, in terms of profitability, attitude to risk and rates of progress.
* In-game sporadic electronic orders in outright option markets. To add to the realism of simulations, broker orders may now appear without warning in the outright option order books, potentially allowing players to click-trade for edge or risk management purposes.
* Enhancement to broker feedback. Another in-game improvement, whereby the broker provides more detailed information as to why he is not interested in a player’s quote. This is to add greater realism and also to give players better information on order flow as would likely be the case in the real world.

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2.20: Released 23 February, 2014

* Horizontal calendar strategies : Added to Custom play and Level 5 and upwards.
* A new put-call parity minigame with non-zero rates
* Levels qualification criteria smoothed : Some tweaks responding to user feedback to smooth the transitions between Levels games.

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2.19 : Released 8 January, 2014

* Expiration Module : practise trading options in the last 5 days leading to expiry
* Performance tab : now see your accuracy and competitiveness per quote
* Multiple Pricing sheet view : on larger resolution monitors, now you can see several pricing sheets at once

Expiration Module

This is a major new feature available in Volcube Pro Edition. It allows expiration trading to be practised via a series of 10 connected Volcube simulations. The first game represent Monday morning and by game 10 (Friday, p.m.) the options are close to expiring. The challenge in between is to continue to make markets and profits for as long as possible and to safely manage the position to its expiration. This will test trainees’ understanding of gamma trading in the face of heightened theta risk. Managing fast-changing deltas and calculating break-even situations are both skills that can now be learnt and tested using the Expiration Module.

The Expiration Module can of course be played repeatedly as the games are generated algorithmically and not from canned or historic data, so each scenario will be entirely new.

Performance tab

The new Performance tab details the player’s competitiveness and accuracy for every quote request in the game. This can be used to check your pricing at every point and understand what you did well and what not so well. The Volcube Competitiveness Metric determines whether the width of the bid-ask spread was sufficiently narrow. The Volcube Accuracy Metric determines whether the mid-point of the bid-ask spread was sufficiently near to the current market valuation of the option strategy in question.

In the Performance graphs shown below, the player needs to make his bid-ask spread narrower, as his competitiveness was inadequate throughout the game. His accuracy was generally good but deteriorated as the game wore on. This is quite common and usually means the player became more inaccurate because implied volatility was moving in the market away from his theoretical values. Quotes 21 and 23 were particularly bad in this game, so these would be worth reviewing in Replay mode.

The new Performance tab…

The Performance tab

 Multi-expiry Pricing Sheets

For players with larger/higher resolution screens, the Pricing Sheets for multi-expiry games will now snap out so that up to three pricing sheets can be viewed simulataneously.  This should give greater oversight of the market and more closely resembles real-world trading set-ups.

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2.18 – Released 29 September, 2013

* Assignments upgraded

Configuration of Assignments enhanced

The options available to tutors when creating Assignments have been increased. Assignments can now have release and expiration dates. Multiple versions of a similarly configured game can be created and a connected series of Assignments can now be created. All the new features are available in the existing Assignments creation area, in the Custom Play tab.

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2.17 : Released 6 August, 2013

* Quarterly expiries

* Live View improvements

* Player Level adjustor

* Tablet usage improvements

 

Quarterly expiries

Tutors can now enable longer dated quarterly expiries beyond the first three months.

Live View upgrade

Live View has been given an upgrade. More live data is now available to tutors watching a multiplayer game in real time including the broker order and strategy details.

Player Levels adjustor

Tutors can now amend group members’ Levels as they see fit. This is done in the tutor’s MySettings area where a list of all group members has been added along with a simple drop down Level selector. Tutors simply change the Level of users as they see fit and press SAVE. Any change takes immediate effect.

Tablet improvements

Some work has been done to improve usage of Volcube on certain, mainstream tablet devices.

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 2.16 : Released on 25 January, 2013

* Assignments

* Continuous Games

Assignments

Tutors can now create Assignments for students to play. Assignments are created in the Custom Play screen. Choose the game setup you desire and press Create Assignment. Give the Assignment a name and add any notes you want students to see before they play. Then Add the assignment. Assignments are listed in the Scenarios (&Assignments) page via the Game tab. Students can only play each Assignment once and can only view Assignments that they are yet to play. An Assignment League Table has been added to the Account page, showing each player’s score in each Assignment. Hover over the column header to see the full Assignment Name. Also note that for Tutors the student’s score in the League Table is in fact a hyperlink to their Analysis page so that tutors can analyse students’ games.

Continuous games

Fixed spot games can now be continued to create a series of up to 10 games. Players carry their positions and theoretical values over into the next session.

 

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