Spotex, a developer of foreign exchange (FX) technology systems and ECN operator, has launched Periscope, a new multilevel credit and margin management module.
Periscope enables prime brokers and prime-of-prime brokers (PoPs) to extend credit and/or margin to multiple levels of downstream, sub brokers.
Periscope is a specially built risk engine within Spotex’s full white-label broker technology system and institutional ECN. It aggregates and monitors both credit and margin exposures from a top-level broker, typically a prime of prime broker, down as many as four levels of sub brokers (five levels total).
“Periscope opens a range of new opportunities for prime brokers, prime of primes and retail brokers, who previously were unable to accommodate clients due to technology restrictions,” says John Miesner (pictured), Senior Managing Director, Spotex. “Clients now have a broader range of firms they can execute through to trade on Spotex’s institutional ECN.”
Periscope enables sub brokers to provide their clients with direct access to Spotex’s institutional low latency ECN where they can trade on a transparent central limit order book using active and passive order types powered by live market data.
Periscope demonstrates Spotex’s commitment to provide advanced capabilities beyond those available in other ECN and FX technology systems. Other Spotex innovations include the ECN’s continuous 24/5 weekly cycle, without end-of-day shutdowns, and proprietary, performance-based matching logic.
