This release introduces new stress testing capabilities, customizable risk ladders, improved quote parsing and formatting, and several enhancements to volatility analytics and strategy analysis.
Risk Analytics
- New Stress Tests in Risk Summary. The Risk Metrics tab has been renamed to Risk Summary and now includes a dedicated Stress Tests section. Users can create custom scenarios by adjusting underlying prices, implied volatility, and time to expiry, and immediately evaluate the impact on P&L and key Greeks (Delta, Gamma, and Vega).
Customizable Risk Ladder Resolution. Risk ladders now offer three resolution settings:
- Low: Simplified view for quick analysis.
- Medium: Balanced view for everyday use.
- High: Detailed view for more granular risk analysis.
This allows users to choose between readability and analytical detail depending on their workflow.
Volatility Analytics
- Delta-Based Strike Display. The Vol tab now supports displaying option strikes in delta terms, providing greater flexibility when analyzing volatility smiles and comparing option structures.
Quote Parsing & Pricing
- Improved Custom Structure Formatting. Quotes for complex and non-standard option structures now preserve the direction, option type, and strike of each leg, making multi-leg structures easier to interpret.
- Better Support for Options and Futures Combinations. Quotes containing both options and futures now correctly retain all legs, including futures hedges with different quantities.
- Futures-Only Quote Recognition. Copilot can now recognize and interpret standalone futures quotes, such as "Brent Z26", directly from natural-language input.
- Improved Handling of Unavailable Market Data. When market data is unavailable for an instrument, Copilot preserves the parsed structure and displays a clear pricing message rather than removing the quote.
Backtesting & Strategy Analysis
- Consistent Strategy Charts. Strategy and Transactions charts have been updated to provide a more consistent visualization and navigation experience across Copilot.
- Improved Performance Metrics. Backtesting results now use consistent numerical formatting, making strategy performance easier to review and compare.
General Improvements & Bug Fixes
- Corrected Implied Volatility Calculations. Fixed an issue where implied volatility displayed in the Quote tab could become incorrect after adjusting bid or ask prices.
- Improved Session Handling. Expired login sessions are now automatically refreshed when opening Copilot, reducing unnecessary interruptions.
- Clearer Error Messages. Error notifications now include a copyable request ID, making it easier for our support team to investigate issues.
- Improved Market Data Notifications. More informative messages are displayed when market data is unavailable for a selected settlement date.
- Volatility Model Updates. Streamlined volatility fitting configuration by removing deprecated models.
As always, thank you for your feedback. These updates are designed to make options pricing, risk management, and strategy analysis in Copilot more flexible, reliable, and intuitive.
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