Direct Edge has added EdgeRisk Controls, a pre-trade risk tool for its EDGA and EDGX Exchanges, which facilitates compliance with the US Securities and Exchange (SEC) Market Access Rule 15(c)3-5 for broker-dealers and their clients.
It provides pre-trade protection with real-time, intraday risk checks specified via a web interface. Pre-trade controls are integrated directly into the exchange trading infrastructure, allowing users to control the entry of orders against trading checks on a real-time basis.
The first risk offering from Direct Edge allows users to control the entry of orders against trading checks that include: restriction of specific order types, maximum notional value or size, and price threshold parameters.
"EdgeRisk Controls is in response to an increased demand from Direct Edge Members for comprehensive pre-trade risk tools that do not compromise efficiency," says Bryan Christian, head of sales. "As the industry focuses more on risk management and controlled access to the markets, we believe this service, provides a set of risk management tools that give our members greater confidence and controls in accessing our exchanges."
Anthony and James delve into how the systematic internalizer regime is shaping up, and then examine the regtech sector.Subscribe to Weekly Wrap emails
- Waters Rankings 2017: All the Winners & Why They Won
- Waters Wavelength Podcast Episode 83: Systematic Internalizers & RegTech
- Former NLX Chief Takes Interim CEO Job at UK Fintech Body
- Mifid Gears Grind into Motion as Systematic Internalizers Emerge
- Power to the People: Will MiFID II Data Disaggregation Deliver on Cost Control Promises?