Proprietary Trading - Equities

Trading Signal Computation

A high-performance signal computation engine for equity prop trading — ingesting real-time market data, factors, positions, and risk metrics in one unified system. Millisecond-level feature updates and signal generation across technical indicators, price-volume features, multi-factor models, and cross-asset arbitrage strategies, from high-frequency intraday to medium- and low-frequency. A shared codebase across research, backtesting, and live execution ensures zero logic drift.

Distributed vectorized computation sustains parallel signal generation across the full equity universe, bonds, and futures — giving prop desks the speed to capture fleeting market opportunities.

Market Making

An integrated platform for multi-instrument market making across equities, ETFs, futures, options, and bonds — covering data ingestion, real-time computation, strategy development, and risk management in one system. Millisecond-level quote processing, real-time order book updates, and factor computation help desks sharpen quote accuracy, optimize inventory, and accelerate strategy iteration.

Built-in engines cover order book generation, order reconstruction, incremental IOPV computation, real-time volatility and Greeks fitting, and yield curve valuation — addressing the distinct requirements of each instrument type. High-fidelity backtesting and simulated matching at tick-level resolution support millisecond-level strategy validation. Combined with real-time metric monitoring and visualization dashboards, DolphinDB connects research, trading, and risk control in a unified market making infrastructure — tighter quotes, better risk visibility, and greater operational reliability.

Trade Monitoring

Full-lifecycle execution monitoring for equity prop trading — tracking fill rate, slippage, cancel ratio, market participation, and execution deviation in real time. Live market data integration enables dynamic assessment of execution quality, cost deviation, and anomalous trading patterns.

Alerts fire immediately on significant deviation or signal failure, with full audit trails supporting rapid intraday response and post-market analysis — helping prop desks reduce transaction costs and improve strategy consistency.

Transaction Cost Analysis

Comprehensive TCA for equity prop trading — covering explicit costs (commissions, stamp duty, transfer fees) and implicit costs (market impact, timing cost, slippage) with flexible attribution by strategy, trader, asset class, and time period. Industry-standard TCA models provide precise execution quality assessment at the individual trade level.

Systematic analysis of historical execution helps prop desks identify high-cost trading patterns, benchmark execution strategies, and optimize order timing and slicing — reducing friction costs while preserving alpha.

Independent Risk Monitoring

An independent risk control layer for prop trading — subscribing to live market data, positions, orders, and fills in parallel without impacting execution latency. Monitors concentration, leverage, margin, and trading limits in real time alongside VaR and CVaR computation. Alerts trigger instantly on risk threshold breaches, with automated controls linked to the trading system — comprehensive risk oversight without sacrificing execution speed.