Optiver uses state-of-the-art information and analysis technology to trade in various markets, either as a member or through local brokers. Actual dealing takes a range of forms: on screen, on traditional trading floors and over the telephone in professional circuits. Products are traded anonymously through exchanges or directly with a wide range of professional companies all over the world. The transition from open outcry to screen trading means that it is no longer necessary to have a physical presence on the trading floor. In theory, anybody anywhere in the world can quote buying and selling prices for options to those interested in trading them. The origin of an order is irrelevant to the market. The only decisive factor is the speed with which an order is received. This has increased competition. But extensive investments in IT have become essential, simply in order to guarantee high-speed connections. This has led to smaller trading firms falling by the wayside because they were unable to bear the high cost of an advanced IT infrastructure. Markets The Optiver group trades as a member on various financial exchanges. These include: Euronext in Amsterdam, Brussels and Paris; Eurex, the German-Swiss Options Exchange; Xetra, the German Stock Exchange; the London Stock Exchange in the UK; LIFFE, the UK Options Exchange; the Australian Stock Exchange and Australian Options Exchange; Virt-X, the PanEuropean Stock Exchange; and Amex, the American Stock Exchange, PHLX, CME, CBOT, CBOE, ICE and ISE. Trade We trade all over the world, taking advantage of relative mispricings between related securities. Despite the large scale of our business, we take on comparatively little risk, as trading requires a superior understanding of the factors influencing security (derivative) prices, and an ability to respond swiftly to them. Optiver trades actively in the following products: equity options and underlying shares in leading companies; equity-index derivatives; baskets of shares: government bonds, cash and derivatives; commodities; foreign exchange in spot and derivative markets; convertible notes; customised products or market request for over-the-counter (OTC) options; sector-index derivatives; derivatives on pan-European indices; and exchange traded funds (ETF).