Programmers who develop financial algorithms these days have one thing in mind: portability.

Those who are lucky enough to develop a successful algorithm for trading usually want the ability to take it with them when they leave a firm. At the very least, they may want to license the algo out to other traders or sell it in some capacity.

OptionsCity, provider of electronic trading software, has come up with a way to solve the aforementioned problems while also making algorithms more accessible to smaller trading shops. Their new product, Freeway, is set to change the way people purchase and use algos much the same way Apple revolutionized the music industry with its iTunes Store business model.

Freeway is a server-based, multi-asset platform for algorithmic trading strategies. It will allow programmers to customize algos via Java or Scala into what are known as “Jobs.” These Jobs will then execute trades dynamically and will also perform historical comparisons while simultaneously analyzing market data. The platform also offers direct market access to the exchanges when applicable.

“We’re crossing new frontiers and experimenting with new ideas,” Hazem Dawani, chief executive officer of OptionsCity, told Markets Media. “Freeway is a solid product by itself. It’s a complete algorithmic trading platform that allows for easy testing, simulation and deployment of low-latency trading algos. We’re adding value to Freeway by introducing the Algo Store.”

One of the reasons why iTunes has become such a success is its ease of use and interface. Anyone can use it. With Freeway, the intuitive yet simple UI will allow real-time monitoring of multiple trade executions and provides access to a wide range of algos and Jobs to traders with the click of a button.

The Algo Store, which is included in Freeway, acts as an online algorithm repository. It will let programmers and traders upload and download their own homemade algorithms.

“It’s going to give us a channel to communicate and send algos to our Freeway users,” said Dawani. “If we come up with an algorithm like an auto-spreader, we’ll release this as an example that they can build off. They can change the algorithm to fit their needs.”