The International Securities Exchange (ISE) introduced several key enhancements to the risk management features offered in PrecISE Trade, ISE's innovative, front-end execution system.
Importantly, PrecISE now provides direct access for risk managers to set and monitor compliance with risk parameters available in the system, such as the maximum quantity and the maximum notional value that can be entered on a per order or daily basis.
As part of the PrecISE upgrade, ISE also added the capability to enter a list of restricted securities that cannot be traded and to specify that no orders can be entered prior to the market open. Any orders entered through PrecISE that violate a firm's established risk parameters will be rejected.
"With the SEC's new rules for market access and the continued importance of risk management and compliance for all firms, we are excited to offer traders and risk managers full access and control over a powerful suite of risk settings," said Boris Ilyevsky, Managing Director of ISE's options exchange. "PrecISE can now also serve as an important tool for risk managers in carrying out their oversight duties."
PrecISE also offers view-only access for risk managers to monitor real-time order and trade activity for multiple desks across the firm, including for firms connected to ISE through a FIX or DTI connection. Risk managers can also receive drop copy reports for orders and trades.
ISE currently offers a two month fee waiver for new users of PrecISE, a leading tool designed to meet the needsof sell-side institutional desks. This comprehensive, front-end execution system supports all exchange order types and functionality, including complex orders, tied-to-stock options orders, crossing orders, and sweep functionality to access other exchanges. PrecISE users have access to real-time market data as well as ISE's Depth of Market Feed, the ISE Spread Book Feed and real-time options Greeks. In addition, PrecISE offers order management tools and flexible post-trade clearing and allocation functions.