FFastFill plc, the leading provider of Software as a Service to the global derivatives community, announced today that its award-winning Orbit Risk platform is fully conformant with the newly revised CFTC Regulation 1.73, which stipulates certain risk management obligations for both futures commission merchants (FCMs) and non-FCMs. The new rule is scheduled to take effect on October 1, 2012.
FFastFill Orbit Risk is delivered from FFastFill's global network of 15 datacenters and connects via the Horizon multi-broker network to a vast array of FCMs, market participants, exchanges and clearing houses. Orbit Risk delivers real time, pre- and post-trade risk management --including a full real-time SPAN© calculation -- and operates independently of independent software vendors (ISVs) or trading platforms used by traders. Orbit Risk allows FCMs to manage customer and proprietary trading activity at a granular level and allows the configuration of alerts on positions, margin requirements, P&L, loss on the day and other factors. When employed with the FFastFill Trading Pro screen or the FFastFill application programming interface (API), these features can be used to block trading, therefore limiting the associated risk.
In addition, when employed with SEALS, FFastFill's state-of-the-art middle office technology, FCMs can factor "Give-In" and "Give-Up" business into the risk equation as well as employing the ability to block blind give-ins from other brokers based on preset limits.
Ryan McElvogue, Managing Director of FFastFill Inc., the firm's U.S. subsidiary, said: "FFastFill Orbit is ahead of the pack in responding to regulatory change and protecting our customer firms from unnecessary risk. The ability to see the firm's full exposure on a single screen, factoring in give-ins and give-ups, is of enormous informational and operational benefit to risk managers and compliance officers. FFastFill Orbit takes the hassle out of managing trading activity across multiple ISVs and geographies and gives firms a true, real-time exposure of their client positions across the market."