Spotex has released Periscope, a new multilevel credit and margin management module that enables prime brokers and prime-of-prime brokers (PoPs) to extend credit and/or margin to multiple levels of downstream, sub brokers.
The solution is a specially built risk engine within Spotex’s white-label broker technology system and institutional ECN. It aggregates and monitors both credit and margin exposures from a top-level broker, typically a PoP, down as many as four levels of sub brokers (five levels total). It also enables sub brokers to provide their clients with direct access to Spotex’s institutional ECN where they can trade on a central limit order book using active and passive order types powered by live market data.
“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, senior managing director, Spotex. “Clients now have a broader range of firms they can execute through to trade on Spotex’s institutional ECN.”