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Xs Trade
Xs Trade is comprehensive Exchange solution which enables Exchanges to run their trading operations with inbuilt risk management and collateral management features. It also comprises of the Member’s front end solution with inbuilt Member’s administration and Risk Management features. It also facilitates Members to extend their services to clients in the form of online trading facility.

Modules
Order Management and Matching Engine
This module comprises of robust system for order queuing and matching the buy/sell orders on price-time priority basis. Mantling mechanism can be modified as per the conditions required.
  1. Supports limit, market, stop loss orders
  2. Day and ‘Immediate or cancelled’ types of time conditions supported
  3. ‘Disclosed Quantity’ condition supported

Broadcast

Broadcast is an important module, which covers the functionality of dissemination of all the information pertaining to the ongoing trading activities. Commonly broadcasted data is market depth, last traded price/quantity/time, open interest, open, low, high, close values of price and Open interest etc.
  1. Flexibility of configuring broadcast to every single update in order queues/LTP or at regular intervals
  2. Intervals can be different for different securities based on trading volume or categories
  3. Compression of the broadcast packets to save on the bandwidth
  4. Member wise configurability for the frequency of broadcast

Collateral Management

This module helps the Exchange to keep the track of the cash and cash equivalents deposited by Members as margin. Members can also view their own details. Upload of the collateral file provided by back-office becomes a beginning of day activity for the administrator.
  1. Cash, securities, Bank Guarantee and Fixed Deposits as the components of margin
  2. Configurable conditions of minimum proportional requirement of the components
  3. Real time update of margin available with update in collateral components

Exchange Administration

This module covers the functionalities involved in Beginning of Day and End of Day activities to be performed.
  1. Security Master to add/modify/delete/suspend security information
  2. Index Management to add/modify/delete Indices
  3. Market scheduling to set start and end timings of various sessions
  4. Facility of setting conditions for automatic trading halt due to set % difference in Index
  5. Facilities to create/suspend/deactivate Member accounts

Exchange level Risk Management

Risk management covers the limit validation at Broker level after every trade and thus protects Exchange from running short of the margin for the positions taken by the clients of the Brokers.
  1. Trade level risk management can also be changed to order level risk management
  2. Members to automatically get suspended if margin limits violated
  3. Automatic bulk cancellation of orders for suspended Members
  4. Alerts can be set for the margin consumption to some % of total limit and after regular increments of % consumption.

Member Administration

The administrator of the Broker can easily create all the entities in the system. He can also create various roles with different sets of rights to perform different operations with restricted access. BOD/EOD activities can be performed at a click of a button.
  1. Facility to create different branches and trader logins under different branches
  2. Facility to map clients to different traders
  3. Role master to create different roles with different sets of rights
  4. Facilities to upload the limits and holding related information o clients in the system

Member Risk Management

Real time Risk Management module safeguards the Broker from the risk of running short of margins of the clients against their obligations. System provides various themes of Risk computation (for example Gross Exposure/VAR), various protective tools like buy/sell/turnover/position limit etc and reactive measures like MTM based lock/auto square off
  1. Client wise scrip wise limit setting
  2. Position limits
  3. Facility to set margin/buy/sell/turnover/MTM/max open order limits for clients/traders/branches
  4. Facility to provide multiple exposures
  5. Margin and Delivery as two products to manage the risk in effective way
  6. MTM based lock modes to prevent loss making clients from taking fresh positions
  7. Single click square off of positions which can be filtered using different criteria

Member’s trading front end

Members can log on to their trading front ends equipped with smoothly accessible screens making trading activities a very enjoyable experience.
  1. Easy to operate Buy/sell order entry, fast / batch/basket/auction/2L/3L/spread order entry screens
  2. Shortcut keys to access different screens quickly
  3. Online order/trade books and online net position screen with real time MTM values
  4. Utilities like margin calculator/Index calculator
  5. Up to five simultaneous market watches
  6. Template of market watch can be stored and revisited

Online trading portal for the clients of Members

Members can provide online trading facility to their clients by activating their cyber application login. Online trading facilitates trading of clients from internet thus eliminating the need of communication between client and Member for placing orders.
  1. Configurable Password policy
  2. Easy to operate order entry screens and interactive front end to keep client informed about his activities
  3. User friendly front end to access information of open orders, trades, positions, carried forward positions and limits-balances
  4. Portfolio management
  5. Intraday charts for better decision making
  6. Market information related reports
  7. Configurability of broadcast (Continuously updating streaming quotes /Query based)
  8. Payment gateway integration

Auction, Odd lot and post closing session along with normal trading session

Auction session facilitates Exchange to cover the shortage of Delivery. Auction sessions for securities can be configured to start and end at a constant difference for different scrips. Post closing session can be hosted with only market orders. Odd lot session facilitates trading of shares in physical format. Bulk trades can be handled in a separate parallel session.
 

 
 
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