US options technology and execution provider DASH has launched two new products — DASH360 Risk, which allows traders to manage their market access requirements and DASH360 Allocations, which caters to post-trade option and equity trade allocations.
DASH360 Risk provides sell-side firms with real-time visibility of all activity at the firm, account or trader level, including risk limit consumption, risk breaches and alerts.
Other features include the ability to manage 15c3-5 thresholds, relating to the SEC Market Access controls, directly through the risk module and to view risk settings and request changes for authorised personnel. The add-on also allows for reporting of historical risk limit settings, requested changes and historical utilisation.
SEC Rule 15c3-5 requires firms with market access to create and maintain risk management controls, policies, and procedures to manage operational risks associated with having access to trading securities directly or through alternative trading systems.
DASH360 Allocations allows users to dynamically allocate options and equities executions on a pre- or post-trade basis while capturing all necessary client reference data. Other features include the ability to consume formatted end-of-day files to automate allocation tasks and reporting capabilities for operational and compliance audits, as well as billing functions.
DASH co-COO Tim Miller says: “Since our inception, we have been committed to making all aspects of trading and execution as efficient as possible and that commitment extends to workflow and compliance solutions. We’re excited to launch two new products that address critical components of the trade lifecycle, both of which are delivered in our DASH360 suite.”
