Spotex Launches Credit and Margin Management Module

Foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term technology provider and ECN operator Spotex announced the launch of a new multilevel credit and margin management module on Monday. Called Periscope, the service enables prime brokers and prime-of-prime brokers (PoPs) to extend credit and margin to multiple levels of downstream, sub-brokers.

Periscope is a risk engine within Spotex’s white label broker technology system and institutional ECN.

It aggregates and monitors both credit and margin exposures from a top-level broker, typically a prime of Prime Broker Prime Broker Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Prime brokers are the designation given to individuals handling a package of services offered by investment banks, wealth management firms, and securities dealers to hedge funds which need the ability to borrow securities and cash in order to be able to invest on a netted basis and achieve an absolute return.There are two types of prime brokers - bank and non-bank corporations. Traditionally major global investment banks have been the predominant players in the space, however recent years have p Read this Term, down as many as four levels of sub-brokers.

“Periscope opens a range of new opportunities for prime brokers, prime of primes and retail brokers, who previously were unable to accommodate clients due to technology restrictions,” said John Miesner, senior managing director at Spotex. “Clients now have a broader range of firms they can execute through to trade on Spotex’s institutional ECN.”

One of many

Periscope enables sub-brokers to provide their clients with direct access to Spotex’s institutional low latency ECN where they can trade on a transparent central limit order book using active and passive order types powered by live market data.

Periscope is one of several pieces of complementary technology that Spotex provides in addition to its standard ECN and FX technology systems.

Other Spotex innovations include the ECN’s continuous 24/5 weekly cycle, without end-of-day shutdowns, and proprietary, performance-based matching logic.