Newsletter Q2/Q3, 2013

The ITS Trading Workstations Newsletter is published every quarter by ITS & ITS Online.

 

As always, please feel free to call our Operations & Support Team at support@itsys.ca or 416-233-3961 x0 at any time if you have any questions about our workstations. Previous versions of this newsletter can be accessed at http://www.itsys.ca/newsletter.html

 

General News

 

Thank you for your patience during the Toronto Flood on July 8th, 2013

Though our system operations were not affected during the heavy rainfall, subsequent flooding and power outage in Toronto on July 8th, 2013, our office lost power for the day and our support team had to work from a remote location for the day.

 

We realize some people had trouble getting through by phone to our support team but we’re happy that nobody reported any significant issues with our services. Thank you for your patience!

 

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Jitney Routing Capability

ITS Workstations are now being used by customers with various Jitney providers. By using Jitney providers, customers can save money by only joining a few marketplaces and allowing orders for other marketplaces to be placed using the broker number of their Jitney provider

 

The ITS SOR used by ITS Workstations is now certified by the National Bank Correspondent Network as well as various other Jitney providers so that customers may take advantage of this feature

 

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Marketplace Upgrades & Changes
As an ITS Workstation user, you may not be aware that it has been a busy few months for Canadian marketplaces as they upgrade their technology.    When a Canadian Marketplace makes a change, the ITS SOR is often required to implement changes as well to ensure seamless connectivity.  ITS is committed to making the vast majority of these changes seamless to our ITS Workstation users.

 

In the last 6 months, ITS has implemented changes to accommodate the following marketplace upgrades.

  • Alpha move to TSX Quantum platform on April 29th;
  • CX2 marketplace launch on May 3rd;
  • TSX data feed changes on July 31st;
  • TMX Select Quantum XA launch on July 29th;
  • Chi-X network changes on July 31st.

 

We are also preparing for the following changes in the next few months:

  • CNSX changes to use the PURE trading platform Nov.1st ;
  • Lynx ATS launch in January, 2014;
  • TSX Quantum migrations in 2014.

 

We will only inform our workstation users if a change will impact the workstation or your orders but please feel free to call us if you have any questions about our back-end systems changes.

 

New Features Available in ITS Workstations

 

Check Orders Message Window

A new window has been added to the ITS Workstation allowing users to view all their “check order” messages as well as any stocks that have entered MOC determination. Since the window can be increased to any desired size on those witching days, you can see all the stocks in this state without having to scroll back and forth.

 

 

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Position Manager Month-to-Date Capabilities

ITS workstations will soon have the ability to view positions and P&L on a monthly basis by clicking on the P/L box on their toolbar. There will be controlled rollout of this capability over the next month.

 

There are various displays available to show:

(a)   detailed position information in a tabular format;

(b)   daily profit&loss for the month in a graphical format and;

(c)    daily profit&loss by symbol for the month in a graphical format;

(d)   daily Market Price which accumulates the MarketPrice (NetVolume * closing stock price) for every symbol in a graphical format

 

Please feel free to call our ITS Operations team at 416-233-3961 x0 for more information on using these capabilities.

 

 

 

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ITS OrderGuard Pre-Trade Inspection available for all ITS Workstations at NO ADDITIONAL COST

ITS successfully launched ITS OrderGuard on June 1st of this year and it is currently being used by a large number of customers to perform pre-trade inspection. Authorizing brokers for ITS Workstation users can take advantage of this offer by contacting ITS Operations to have ITS administer the basic parameters of pre-trade risk inspection required by IIROC.

 

The following list shows pre-trade inspection limits that can be applied to both various individual users, accounts, symbols, and can be applied to a firm`s total orders from ITS workstations.

 

**Please note that on September 5th, 2013, ITS Online AUTOMATICALLY enabled "Fat Finger" checking for all our workstation customers to try to prevent orders entered with keystroke errors.   Default values for the "maximum difference from market" for aggressive orders were set for workstations that did not previously have this feature enabled.     Please call ITS Operations at 416-233-3961x0 if you have any questions about "Fat Finger" checking.

 

     PER-ORDER LIMITS

  • Restricted Symbol List
  • Individual Order Volume
  • Individual Order Value
  • Disable Order Flow 
  • Disable Short
  • Borrowing Location Required
  • Cross Volume
  • Cross Value
  • Fat Finger
  • (Future) Volume Allowed as a % of 30 day average

 

     OPEN ORDERS LIMITS

  • Net Volume for Open Orders
  • Gross Volume for Open Orders
  • Net Value for Open Orders
  • Gross Value for Open Orders
  • Order Count of Open Orders

 

     TOTAL ORDERS LIMITS

  • Net Volume for Notional Total of Day’s Orders
  • Gross Volume for Notional Total of Day’s Orders
  • Net Value for Notional Total of Day’s Orders
  • Gross Value for Notional Total of Day’s Orders

 

Authorizing brokers can also administer many other risk limits and monitor order flow for all ITS Workstations using an ITS OrderGuard Management Workstation available for $300/month. This powerful tool allows brokers to set limits for individual users as well as set limits for their total exposure from all ITS workstations. 

 

 

Anybody interested in more information about the ITS OrderGuard Management Workstation should contact ITS Operations & Support at 416-233-3961 x0 or support@itsys.ca.

 

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