In today’s trading marketplace, where increasingly diverse and widespread regional and governmental regulations are imposed, there is a renewed focus on risk management, specifically on pre-trade risk exposure. At the same time, lower latency continues to be important to trading strategies, especially when algorithmic and program trading methodologies are fundamental to customers’ business.
To help member firms meet full pre-trade risk management compliance, Fusion Systems introduces Raptor Raw. Raptor Raw is a hybrid software/hardware solution based on FPGA intended for sponsored access, providing pre-trade, at-trade and post-trade risk management that adds virtually no latency.
Fusion Systems’ Raptor Raw provides pre-trade protection to member firms. Using Raptor Raw, member firms can control their trading activity and the trading activity of their customers at the order level, including prevention of potentially erroneous transactions from reaching the market. Raptor Raw provides a one-way latency of 1.5 microseconds at extreme TPS rates, inclusive of all pre-trade risk and compliance checks.
Feature set and risk management capabilities include:
- Cumulative portfolio risk filters
- Margin collateral management
- Stock and loan inventory management
- Order state management
- Short-sell risk filters
- Advanced order types (pegging, etc.)
- Algo order support
- Drop copy
- Real-time monitoring and control via Flux
- Failover and full recoverability with no single point of failure
- Notifications via e-mail for risk limit breaches and warning levels
- Speed – Raptor Raw is fast, providing one-way latency of 1.5 microseconds at extreme TPS rates, including all pre-trade risk and compliance checks
- ZERO disruption to trading during risk breaches – Unique man-in-the-middle feature, with suppression of breaching orders and insertion of broker reject
- Real-time monitoring and control – via Fusion Systems’ command and control front-end, Flux
Raptor Flux for Monitoring and Control
Flux is a real-time command and control front-end for electronic trading desks and operational support, enabling monitoring and control, including real-time latency, flow rates, network and system health monitoring.
- Mass cancel – system wide or client specific
- Bring up/down client or exchange sessions in real-time
- Update risk limits & balances intraday
- Pushed alerts, with easy drill-down navigation
- Integrated latency reporting and monitoring
- Provides a global view of all trading activities
- Allows precise control over multiple levels of internal and client market risk
- Helps enable improved account and market risk management
- Provides unified management interface