Delta Liquidity Manager

Key Benefits

• Deep Liquidity– FIX integration to Top Tier Liquidity Providers ensuring best coverage across the market
• Best Execution– execute at best possible price by accessing multiple layers of liquidity and applying advanced rules to trade execution
• Warehouse vs. Hedge– decide which trades to warehouse or execute directly in the market based on house exposure, trade characteristics and market conditions
• Risk Control– automatically ensure your house portfolio operates within the required risk controls whilst still gaining the maximum benefit from netting client flows
• Deal Reconciliation– standardised FIX integration to Traiana and Elysium for settlement
• Quick Implementation– choice of hosted or onsite installation, be up & running in matter of weeks
• Experience & Quality– built by a trusted market vendor with over 12 years FX experience. Independent Quality Standards achieved: ISO9001:2000, SAS70
• Open & Modular Architecture- built to allow easy configuration and adaptation to existing systems
• Scalable & Fast– designed to scale to large volumes whilst providing ultra low latency rate throughput
• Integrated solution– either to your own applications or to one of First Derivatives leading solutions:
• Delta Rate Manager- for generating and managing pricing of executable spot, forward and money market rates, ensuring you always trade on the right rate
• Delta Margin- the next generation Margin Trading platform engineered for high volume, performance and scale, engaging and intuitive for novice traders, sophisticated with advanced features for professional traders

Connectivity

• Direct access to primary sources of liquidity- Global access to the largest liquidity pools in the marketplace. With direct links to market making banks, clients are directly plugged into the heart of the foreign exchange marketplace ensuring best quality, executable prices.


• FIX connectivity– using the latest standardised connectivity with fast, easy integration to new liquidity directly from Financial Institutions or Portals. Provides independence combined with unlimited connectivity


• Ultra low latency- optimised to deliver ultra low latency connectivity to the top liquidity sources. Ensures that the best price is sourced and executed upon with minimal fails

House Portfolio Management

• Net client trades– allow trades below a predetermined size to net off against each other in order to gain the full bid/offer spread and reduce need to go the market with small trade sizes
• Automatically manage trade flows in real time - use currency and currency pair rules to make business decisions on whether to warehouse or clear risk directly in the market
• Trade directly with liquidity providers – enables house traders to view the full depth of available market liquidity and to gradually clear down positions or acquire new risk as required

• Manually book trades – record trades made off platform (voice, or other eFX flows)
• View daily and cumulative P&L – view profit/ loss for warehoused and hedge flows in local currency terms
• Instantly clear exposure – clear down risk in the market by currency pair with
• Risk strip cross trades back to prime rates – allows hedging and management of all flows by most liquidity pairs. Positions can also be cleared down by trading of crosses if required

Risk Management

• Define risk thresholds by currency and portfolio size - automatically alert the trader when approaching a risk threshold and automatically hedge any trades which breach currency or portfolio limits



• Sophisticated portfolio risk monitor – can be weighted to give more emphasis to less liquid and more volatile pair

• One-Click ‘Panic Controls’ – enables instant changes to warehouse rules to send all new flows to market without interrupting client trading



• Full audit and deal listings – review all details of every trade which passes through the system including time stamps and all rates used in calculations to ensure transparency of business logic

Execution Management

• Minimise trade rejects and re-pricing – both brokers and clients can decide on their own slippage parameters to ensure the best trading experience. Multiple liquidity providers can be referenced when hedging deals to ensure the minimum number of refused deals. Low latency transmission of data reduces possibility of unfavourable market movements
• Smart order routing - best bid/offer execution across liquidity providers, execution priority ranking configurable by liquidity provider to ensure preferred supplier wins deal in event of price match
• Improved client trading experience – offer quality, reliable executable prices to capture your clients business and support your business growth