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@BigDataExpo Authors: Kevin Jackson, Rolando Kahn, Liz McMillan, Dave Burlington, Elizabeth White

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Fluent Releases FluentPrime 3.3: A Real Time, Pre-Trade Prime Brokerage Risk Solution

“The current available solutions for FX Prime Brokers rely on an irrelevant post-trade risk management methodology, a clear recipe for a credit disaster,” says Joel Steinmetz, Fluent’s managing director. “Do the math: A small $1M hedge fund with direct access to 10 venues (with 50x credit per venue), presents a $500M risk exposure for the prime broker in the ever-more-common event of an algorithm trading glitch. There is no real time credit aggregation, and no way to block a rampant algorithm or a software error.”

“FluentPrime is an extended risk suite integrated with the cutting edge FIXation 3.3. Our solution is geared to solve this exact risk management challenge: The Prime Broker sets the rules to be enforced by FluentPrime, before orders are sent out, and the client keeps the benefit of the fastest trading technology in the market,” says Matan Kollnescher, R&D Manager, “The heart of a modern FX Risk Management has to be a real time, pre-trade aggregator of credit limits from multiple venues, for both positions and open orders.”

“We quickly realized that the benefits of high efficiency and low latency can be applied to areas ancillary to direct execution. So we took the same methodology that delivers industry leading speed and efficiency for data gathering and execution, and applied it to risk management and big data solutions,” says Joel, “Fluent also ensures that customer strategies are protected; FluentPrime can reside as a hosted solution, or be fully deployed on the customer site, preserving confidentiality for all executions.”

A valuable existing functionality for Prime Brokers is the built-in support of drop copy capabilities received directly from the client. All are easily integratable with existing solutions. Risk related functionalities also include:

  • Multi site aggregated risk
  • Real-time, irreversible killing switch
  • Ability to control outstanding (open) orders
  • Permissions and Compliance visualisation via FluentView
  • Programmable Risk Management API for the Prime Broker
  • Risk adds only 1.8 microsecond latency to order execution
  • Guaranteed messaging protocol - ensuring a disconnected client can't trade.
  • When a client’s connection to the Broker fails, all trading but position closing is blocked
  • Full set of configurable rules: orders per second, position and open orders, individual currency limits, PNL etc.

Fluent’s suite of products continue to support a long list of state-of-the-art capabilities; a unified API to over 60 trading venues, FX Market Making, data distribution, customizable book aggregation, real data simulator and more.

About Fluent Trade Technologies

Established in 2009, Fluent Trade Technologies is the world's fastest financial technology provider, offering a comprehensive, turn-key solution for automated trading systems and brokers. Certified with over 45 FX trading venues representing over 95% of FX liquidity, Fluent Trade Technologies delivers an end-to-end solution through a unified API for both Maker and Taker, enabling its customers to focus on their core businesses. Fluent’s customers transact billions of dollars daily through its ecosystem, leveraging the company’s expertise in data processing,trading, large database warehousing, data distribution, monitoring and pre trade risk management solution for FX Prime Brokers and their hedge fund customers.

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