ETNA Trader 2.73 introduces several highly anticipated features that streamline brokers’ workflows and enhance the security of order placement.
Audit in the New Back Office
Release 2.73 introduces the all-new BO Audit widget that enables brokers to track all of the activity occurring on the platform as part of our ongoing efforts to transfer the Back Office to ETNA Trader Web. Ranging from logins and account openings to deposits and new orders, BO Audit ensures that the broker can observe every notable operation in real-time. If there’s ever a problematic situation that needs to be investigated, this widget will provide all pertinent operations in chronological order. BO Audit will be available by default after your environment is updated to version 2.73.
New Rules for Pre-Trade Risk-Checking
As far as security, version 2.73 significantly enhances the broker’s ability to protect their traders from making rookie mistakes with five new risk rule validators:
- Order Frequency Validator. The purpose of this validator is to ensure that there’s always a delay between two consecutive orders (in milliseconds).
- Maximum Position Value Validator. The purpose of this validator is to detect orders that, if executed, will result in a position whose dollar value exceeds the specified threshold. This might be useful in preventing traders from opening positions of a suspicious size (e.g. $1 million).
- Maximum Number of Outstanding Orders Per Symbol Validator. The third new validator suspends orders if there’s already some predetermined number of orders with the same ticker symbol. For example, if this number is set to 4, and there are already four orders involving NFLX, this condition will suspend all additional orders that attempt to trade shares of Netflix.
- Maximum Number of Outstanding Orders Per Side Validator. The fourth new validator is similar to the third one, the difference being that it suspends orders if there’s already some predetermined number of orders with the identical order side (Buy/Sell/Sell-short/Buy-to-Cover). For example, if this number is set to 3, and a trading account has 3 outstanding Sell orders, this condition will suspend all additional Sell orders from this trading account.
- Duplicate Order Validator. The final validator in release 2.73 is responsible for ensuring that there’s always a delay between two duplicate orders. This delay must be specified in milliseconds.
Each new validator will appreciably expand the risk management functionality in the platform and assist brokers in preventing the clients’ from incurring losses due to negligence. The new validators can be configured in ETNA Trader’s Back Office via the BO Dashboard widget.
If you have any questions about the new release, feel free to shoot us an email and we’ll get back to you shortly.