I Would like to see the ability to restrict position size from within NT.
A property "maximum position" for each contract.
A property "offline orders" to adjust reported position in cases of phone orders or to compensate for Trading Technologies overnight positions inaccuracies.
Adding these two items would have many benefits:
1. User defined risk controls could be adjusted quickly without the current need to call broker. Further, some brokers like IB do not even offer maximum position limit controls beyond those based on account balance and exchange minimum margins.
2. This would offer a workaround to the long standing issue of Trading Technologies inability to report correct overnight positions. This is achieved by having the broker set maximums larger than those within NT. The real limits would be maintained within NT's settings. The reason brokers/TT position limits must be larger is to compensate for the fact that TT miscalculates overnight positions. When TT is confused about the position, orders get rejected because they appear to violate the maximum position setting.
3. Clearing firm risk managers must be aware that current NT w/TT position miscalculations allow for the possibility for traders to exceed the firm set position limits. A method of correcting TT's shortcoming inside NT would increase its value to brokerage firms and their interest in supporting NT.
A property "maximum position" for each contract.
A property "offline orders" to adjust reported position in cases of phone orders or to compensate for Trading Technologies overnight positions inaccuracies.
Adding these two items would have many benefits:
1. User defined risk controls could be adjusted quickly without the current need to call broker. Further, some brokers like IB do not even offer maximum position limit controls beyond those based on account balance and exchange minimum margins.
2. This would offer a workaround to the long standing issue of Trading Technologies inability to report correct overnight positions. This is achieved by having the broker set maximums larger than those within NT. The real limits would be maintained within NT's settings. The reason brokers/TT position limits must be larger is to compensate for the fact that TT miscalculates overnight positions. When TT is confused about the position, orders get rejected because they appear to violate the maximum position setting.
3. Clearing firm risk managers must be aware that current NT w/TT position miscalculations allow for the possibility for traders to exceed the firm set position limits. A method of correcting TT's shortcoming inside NT would increase its value to brokerage firms and their interest in supporting NT.
Comment