FX Order Management
The Order Management module of TraderTools' Liquidity Management Platform features:
- API support
- AutoFill
- Credit checking
- Customer capabilities
- Dealer compatibility
- Flexibility passing the book
- Global reach
- Multiple order types
- Straight-through processing
API support
TraderTools' API support allow an institution's external or customer-facing systems to send add/edit/delete requests into the Order Management system as well as receive events from real-time state changes of the entire order book. Full event history can also be accessed.
The Order Pad shows two views: a single customer and all customers
AutoFill
AutoFill is a flexible process for automatically filling FX orders, allowing a trading desk to specify which orders are to be filled automatically and which orders require human intervention. FX orders, whether Limit or Stop, are maintained in an Order Book by a trading desk, and are monitored until market conditions are met, thus triggering their execution. Based on customizable rules, this fully-automated feature facilitates execution without slippage and enables the straight-through processing of FX and MM orders.
Credit checking
Resting orders are checked for credit availability before being booked. Traders can have the permission to overrule a credit failure and the decision is always recorded for auditing purposes.
Customer capabilities
- Orders can be added/edited through the Order API and/or White-Label interface
- Spreadsheets of orders can quickly be added into the FX Order Management system using highly configurable templates
- Order status can be delivered to the customer through the API, White-Label interface or through email/SMS notification which can be configured and branded
Dealer compatibility
- View orders closest to market in real time.
- Filtering capability based on 'n' number of conditions
- Visual and audible alerts
- Ability to show orders valued in home currency
Flexibility passing the book
The Order Management module allows for flexibly passing the book either individually or in bulk. Order routing from clients in multiple centers is also possible with executed order messages being automatically routed.
Global reach
The order management module prioritizes trading entities based on a pyramidal organizational structure across the globe, providing support for different types of hierarchies and business practices at different locations.
Multiple order types
Spot, NDF, EFP and Forward orders are supported. Stops and Limits (Take Profit) orders as single, OCOs, Loops, or more complex order strategies are built-in.
Straight-through processing
Straight-through processing (STP) encompasses everything from order entry (including web application and Order API), order processing, audit trail and export of orders to back office systems. It allows direct order execution against real-time streaming rates and either automatic or manual order acceptance. STP also enables passing the book over multiple time zones so that clients can place orders 24 hours a day via the Internet.
