Wedbush Morgan Securities implements FTEN's Intraday RiskXposure
Wedbush Morgan Securities, the largest international clearing firm headquartered on the West Coast, today announced implementation of Intraday RiskXposure from FTEN to provide real time intraday risk management for black box, proprietary trading, and prime brokerage clients.
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"Most black box trading models become ineffective with any risk management system that adds latency to processing times," noted Harvey Cloyd, Vice President at Wedbush Morgan Securities. "Intraday RiskXposure enables Wedbush Morgan to better provide intraday risk management for our black box clients and hedge funds without interfering with their fast-paced trading models. This allows us to expand our black box clearing business and increase the number of transactions we process. We will be rolling out additional Intraday RiskXposure features, such as real time P&L, over the next few weeks and months as part of our ongoing commitment to meet the needs of institutional clients."
Intraday RiskXposure from FTEN is a revolutionary new risk management service that provides clients with real time intraday risk management capabilities, regardless of which front-end trading, order or portfolio management systems they use. FTEN provides Intraday RiskXposure as a stand-alone, Web-based ASP offering that requires no integration with existing systems and introduces no latency into transaction processing. Intraday RiskXposure was developed by FTEN with valuable insight and perspectives provided by Wedbush Morgan regarding needs within the financial securities/prime brokerage industry for better real time intraday risk management capabilities.