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Risk Cockpit April 2023

Trend Information Available on Risk

Trend information is available on Risks showing users how their level of risk has changed since the last time that the risk was assessed. This is available in registers allowing organizations to easily identify risks that have increased.

Quantification of Events

When logging events users are now able to capture and report on the value lost or the potential loss associated with a given risk event. This allows users to justify their risk assessments and understand the capital they should keep in reserves for a given risk.

Capturing Interdependence of Tasks

Tasks can now be related to different items in your Risk Framework, allowing firms to understand how the tasks in one part of their business impact different business functions.

Related Item Dashboards

As part of the user defined dashboards users are able to create lists of items and the items that are related. An example of this is seeing all the risks and the events related to those risks in one screen. Making it easier for users to create management reports.

Related Item Filtering

As part of the related item lists users are able to filter on a related item. Allowing them to understand for example all risks that are related to a given system.

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Market Surveillance November 2022

This month, we have developed two new alerts for our customers in the Fixed Income space: Quote away from Stream and Quote away from Composite.

The Quote away from Stream alert checks if the Dealer quotes a better/worse price to the client’s RFQ compared to the price it was streaming right before.

Similarly, the Quote away from Composite alert checks if the Dealer quotes a better/worse price to the Client’s RFQ compared to the composite price.

These alerts will catch dealers who consistently stream an attractive price to allure clients and subsequently quote a worse price

Find out more about why we released these features in our blog

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Risk Cockpit November 2022

Workflow focused Home screen

The new Risk Cockpit home screen allows users to easily understand the actions that they need to take when they log in. By completing the recommended actions for which users are responsible they can help their organization ensure their Risk Register is kept up to date.

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Risk Manager November 2022

KRM22 Risk Manager within the TT environment:

KRM22 Risk Manager available to customers on the TT platform. The sophisticated real-time post-trade risk service significantly enhances the risk toolset available through TT’s growing ecosystem for futures commission merchants (FCMs), brokers and traders.

The product’s risk scoring system will help users instantly assess real-time margin and liquidity, creating a new way for futures and options on futures traders to generate alpha under the most volatile market conditions. The offering currently covers margin on existing positions and provides a full range of analytics behind those positions, including the ability to anticipate end-of-day margin

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Risk Cockpit October 2022

The Risk Cockpit has two new features this month.

Users can add data metric slots on an Adhoc basis, this allows users to track metrics that do not have a regular data update schedule. All past values are saved allowing users to understand the evolution over time.

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The Basel II Framework, previously only available in Risks and Controls, is now available in registers. This allows users to understand their Risk & Control registers both by their taxonomy and the Basel II Framework.

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Trading Risk October 2022

Our Trading Risk suite has been enhanced across the board. The Limits Manager functionality now allows temporary account creation to satisfy place holder accounts for onboarding customers before they go live. This allows for the onboarding process of new accounts to still be captured within the system including the audit trail. We have also put the ability to calculate FX margins based on custom valuation shocks based off of both tenor and tenor-based offsets into our At-Trade product, and our Post-Trade offering can generate reports based on individual product groups – reducing the clutter of full instrument reports and focusing on individual sector risks.

Our relationship with Trading Technologies has been further strengthened with the capability to calculate real-time margin for TT based accounts.

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Risk Cockpit September 2022

Users can now capture additional details on Events, increasing the control they have over events. The new “Remediation” tab on Events allows the capture the root cause, impact and the actions that are taken to remediate any event.

There is also added functionality that allows a user to relate two items of the same type but belong different entities, tying together related risks across the business.

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Trading Risk September 2022

Limits Manager

Our Limits Manager software now allows administrative users to whitelist and customize user views based on their preferences. This provides the two main benefits of preventing users from submitting limits on undesired limit attributes, and an enhanced user experience.

At Trade

At Trade has released the ability for FX margin parameters, enabling customers who carry currency pairs to apply margin parameters for both a Gross and Net Margin percentage based on time bucket.

Post Trade Risk

Post Trade Risk now includes enhanced what-if functionality. Users can amend positions, prices, and volatility surfaces for the ability to properly value hypothetical trades and potential new business

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Market Surveillance September 2022

Market Surveillance has been enhanced with improvements to the Ramping and Creation of a Floor/Ceiling alerts

Ramping

The ramping alert can now look for opposite side trades after the price ramp to check if the trigger participant benefited from the price move. In addition, compliance officers can now restrict the time window after a detected ramp in which to look for an opposite side trade as well as selecting the source or segment on which will trigger.

Creation of Floor/Ceiling V2

The creation of a floor or ceiling pattern is detected by evaluating, over a rolling time window, the increase in relative volume of a market participant over a certain threshold, whilst retaining the price at a certain level, below a specified standard deviation with that rolling time window. When configured with a market data source or segment, the trigger participant’s volumes are compared to the entire market’s trading volume during the rolling window. The alert only triggers when this ratio breaches a user defined threshold.

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Market Surveillance October 2022

New Pump and Dump alert

Pump and dump is a scheme that attempts to boost the price of a security through misleading and exaggerated statements. After driving up the price of a security, the perpetrators of this scheme will reverse their positions at a higher price than the security was when they purchased it. Trash and Cash is the reverse pattern, pushing down a security, buying low and selling high, once the price has normalised.

Our new Pump and Dump/Trash and Cash alert will be a day analytics with no inter-day lookbacks focusing primarily on Equity and ETD markets. After receiving feedback from several clients, we have made significant improvements to the underlying alert logic, including referencing market data to further weed out false positives.

The new alert detects any significant increase in market volumes and then checks for significant market price increase/decrease from the previous intervals. Users can control both these parameters with customised thresholds.

The alert then checks for Buy and Sell trades prior to the detected interval by the same participant and calculates net Buy (Pump)/Sell (Trash) positions. These net positions are then cross checked with their closing positions in the ‘dump’ or ‘cash’ period to see if there was any potential profit made. These net positions are also used to check if these trades were significant enough to move the market.

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