ORDER MANAGEMENT SYSTEM
STERLING OMS & INFRASTRUCTURE
Sterling offers the fastest, most reliable OMS to streamline your operations and increase efficiency.
STT
REST API
Set and update pre-trade risk controls, manage and interact with order flow and positions in real-time via either the STT REST API or advanced OMS Console.
9,000 Messages
Per Second
Scale your business with the ability to support up to 9,000 messages per second.
Single or Multiple
Clearing Firms
Clients can utilize STT’s OMS across single or multiple clearing firms.
Compliance
Reporting
STT OMS supports end-of-day compliance reporting and detailed trade reporting to seamlessly integrate into existing back-office processes.
Global
Connectivity
Sterling’s infrastructure solutions offer global connectivity to multiple exchanges and trading networks along with on-demand custom development solutions.
OMS Snapshot
Data Center Location: | Secaucus NY4 |
Peak Message Rates Supported: | Up to 9,000 messages per second |
Order Latency: | Less than 1 Millisecond |
Hours of Operation: | 2am EST to Midnight EST |
Instruments Supported: | US Equities, US Options (single leg and multi-leg), CAD Equities |
SOD Files Supported | Buying Power, Positions, Easy To Borrow, Non-Standard Margin |
EOD Files Generated: | Clearing Files, Daily Trade Blotters, Order Lifecycle, Custom BD Reports
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Platforms Supported: | All Sterling trading platforms; multiple third-party trading platforms; additional third-party platforms can integrate seamlessly via FIX protocol.
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Drop Copies Supported: | Inbound and Outbound Supported via Fix 4.2 for all instruments.
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Risk GUI Available: | Yes. GUI available both for full risk control or in “view only” mode.
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15c-3 Risk Controls Supported:
| All 15c-3 Risk Controls Supported |
Position Management: | Risk GUI allows clients full position and order management at both aggregate unit level and individual account level.
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Pre-trade / Post-trade Risk: | OMS risk controls are pre-trade; Post-trade risk available with integration of Sterling Risk Engine (SRE)
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Reject Notifications: | Orders that do not pass risk checks are rejected back to trader with easy to understand reject text notification.
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Order Routing Controls: | Orders can be routed based on Aggregate Unit, Individual Account, Platform, Symbol, Listing Exchange, TIF, Order Type,
Time and Price.
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APIs Supported: | REST API (JSON); FIX API (FIX v4.2) |
Risk Check Matrix
Aggregate Unit Control | Individual Account Control | Equities | Options | |
|---|---|---|---|---|
Order Side Marking | ||||
Buying Power/Margin | ||||
Margin Based on Price | NO | |||
Margin Based on Symbol | ||||
Max Loss | ||||
Average Daily Volume (ADV) Filter | ||||
Duplicate Order Check | ||||
Layering Filter | ||||
Spoofing Filter | ||||
Pattern Day Trading Controls | N/A | |||
Per Order Control – Max Quantity | ||||
Per Order Control – Max Notional | ||||
Per Order Control – Max Price Threshold | ||||
Per Order Control – Max Open Orders | ||||
Symbol Control – Symbol Blocking | ||||
Symbol Control – Minimum Price Restriction | ||||
Symbol Control – Maximum Price Restriction | ||||
Position Control – Max Long Position Value | ||||
Position Control – Max Short Position Value | ||||
Position Control – Max Open Notional Value |
Sterling OMS Overview
Trading Network
STT’s deep trading network allows you to integrate with exchanges, trading networks and clearing firms worldwide.
Current Order Routing Integrations
Clearing Firms
- ABN Amro Clearing
- Apex Clearing
- Apex Pro
- Axos Clearing
- BNP Paribas USA
- Clear Street
- Cowen
- Global Prime Limited
- Goldman Sachs
- ICBC
- Interactive Brokers
- LEK Securities
- Bank of America Merrill Lynch
- Velocity Clearing
- RBC
- StoneX Group Inc
- Velox Global
- Vision Financial Markets
- Volant Trading
- Wedbush Securities
3rd Party Platform Integrations
3rd Party Reporting Systems
Research Partners
Trade Reporting
Sterling provides client reporting solutions to seamlessly integrate into your back-office processes.
Start-of-Day Data
SOD Position Uploads:
STT can load start-of-day positions for each client account from the clearing firm of record.
SOD Buying Power/Margin Uploads:
STT can load start-of-day account buying power or margin for each client account from the clearing firm of record.
Easy to Borrow (ETB) Lists:
STT can load ETB lists to determine which securities are easy to borrow for shorting in client accounts.
Locate Lists:
STT can load lists of securities that have been pre-located by the client for their accounts.
End-of-Day Data
Trade Reports:
STT can generate a nightly trade blotter that includes all executed trades and associated trade details.
End-of-Day Position Reporting:
STT can generate a position report to show all ending positions in each client account including account, ending position quantity and position price.
Clearing Firm Files:
STT can generate end-of-day Clearing files based on the specifications of each individual Clearing Firm.
Compliance Reporting
CAT Reporting (Consolidated Audit Trail):
STT is fully certified for Consolidated Audit Trail (CAT) reporting and can generate CAT reports and submit on behalf of clients.
SEC 606 Reporting:
STT supplies 606 data in standard IHS Markit format only. STT is not a 606 vendor.
Lifecycle Reports:
STT can generate Lifecycle Reports that provide timestamped details of all order activity, including when orders are sent, confirmed, executed, canceled and rejected.
STT Start-of-Day Recovery Service
Prevent trading disruption with Sterling’s Start-Of-Day Recovery Service.
Sterling offers a start-of-day back-up file service in the event that your clearing firm is unable to provide start-of-day position files prior to the market open.
If your clearing firm does not provide start-of-day files, STT can automatically carry over all positions from the end of the prior trading day. The Sterling back-up files load automatically to prevent trading disruption.
Please contact us for details on pricing and implementation.
Sterling Entitlement Manager (SEM)
A fully automated market data approval process solution. The Sterling Entitlement Manager quickly and efficiently allows traders to electronically sign market data agreements.
SEM Highlights
- Fully automated onboarding and verification process for both professional and non-professional traders
- Prevents data from being turned on until approval from the exchange is granted
- Compliant with the exchange policies and requirements
- Market Data is activated on the platform once approval from the exchange is granted
- Each electronically signed agreement is available for PDF download and also automatically sent to the appropriate exchange.
- All electronically signed forms are stored as PDFs in the SEM
Professional Subscribers
Traders who are not employees of a firm must sign individual professional agreements directly with each exchange.
Non-Professional Subscribers
SEM captures all the data points required to verify the non-professional status of traders.
Sterling Trader® Manager
Providing risk managers with live account management, full market access and trading capability. Sterling Trader® Manager provides real-time innovative risk and trading management tools that let clients control pre-trade risk, set account limits, and manage trading parameters.
Risk Controls
Sterling Trader® Manager offers pre-trade risk management and real-time risk control. These include everything from price thresholds (or “Fat-Finger” controls), to daily loss and buying power controls.
Manage Pre-Trade Risk & Real-Time Risk Control: Set anything from price thresholds (or “Fat-Finger” controls), to daily loss and buying power controls.
Highlights
- Order price threshold controls
- Duplicate order checks
- Pre-trade risk & position limits, even for individual symbols
- Intuitive buying power controls and loss limits
- Wash sale controls
Trading Features
Sterling Trader® Manager delivers effective risk control and trade monitoring. Managers have access to many of the same highly valued trading tools available on Sterling Trader® Pro, but with the added features designed for managing traders and trading in real-time.
Full Market Access and Trading Capability: Access to many of the same highly valued trading tools available on Sterling Trader® Pro, but with the added features designed for managing traders and trading in real-time.
Highlights:
- Full trading functionality
- Firm-level portfolio view with position summary
- Account Groups for streamlined management
- Manage live trades in any account, trade out of positions, or input away trades
- Instantly suspend traders or reactivate them