pre-trade compliance

Sterling Aggregator allows clients to view all orders, manage trading risk and enforce all 15c3 compliance controls in real-time and can be integrated with any third party platform or FIX API.

Orders that would violate risk or compliance checks are rejected while those that pass are routed to the appropriate execution venue.

• Accepts orders via third party trading platforms and FIX APIs to provide a single checkpoint for pre-trade risk and compliance monitoring for U.S. equities, options and Canadian listed securities
• Performs risk checks, such as aggregate buying power and individual order controls for size, price, and notional amount
• Applies compliance controls, such as aggregate position marking, wash trade prevention, and threshold controls
• Supports and integrates with new third party trading platforms and FIX API solutions by request

real-time risk

Sterling Aggregator allows clients to set account limits and manage trading parameters.

• Hours of operation: 4am EST to 8pm EST US
• Position and order management (both aggregate unit level and individual account level)
• Buying power or margin control (both aggregate unit level and individual account level controls)
• Max Loss control (both aggregate unit level and individual account level controls)
• Per-order controls for quantity, notional amount, and threshold (both aggregate unit level and individual account level controls)
• Symbol blocking controls
• Ability to restrict symbols based on minimum and maximum price (both aggregate unit level and individual account level controls)
• Duplicate Order Checks
• Ability to handle equities and options including multi leg margin and buying power calculations accurately
• Layering, Spoofing and ADV (Average Daily Volume) Filters

Equities BP/Margin Calculations:

Equity Margin controls can be set based on price levels and side (for example, clients can margin securities below a dollar at 100%, and securities above a dollar at 25% for Buy orders and 28% for Sell orders).

Equity Margin can be set per symbol for securities with non-standard margin (ie, symbols not margined at standard 25%).

Options Margin Calculations:

Options Margin is calculated based on the Cboe specifications. Aggregator “nets out” spread orders based on the specific margin rules outlined by Cboe (as opposed to adding up the margin for individual legs).

Individual accounts can also be permissioned for different levels of options trading (multileg, covered call writing, long options, sell naked puts, sell naked calls).

trade reporting

Sterling Aggregator can accept start-of-day Easy-To-Borrow (ETB), Buying Power and Positions files and offers a full suite of end-of-day files including clearing files and OATS reporting.

drop copies

STT can send or receive drop copy execution messages to third-party systems.

3^rd party platform integrations

• DAS Trader
• ETNA Trader
• Flextrade

• Go Trader
• Market Trader