(Legacy) Rival Trader Pre-Trade Risk Limits
Rival Server-Side Risk Limits
The Risk Manager can set the following server-side risk limits. The limits cannot be overwritten by the system admin or trader. These limits can be applied as a default across all loaded products, or at the individual symbol level. The system also provides the Risk Manager with a ""Kill Switch"" to quickly enable and disable each server instance.
Max Order Quantity - maximum number of lots allowed per order or quote
Max Number of Open Orders - maximum number of open orders at any time
Max Total Open and Traded Qty - maximum number of lots traded and open per trading session
Max Total Notional Value of all Open Orders - maximum notional value (price * contract multiplier * order quantity) of all outstanding orders at any time
Max Order Notional Value - maximum notional value (price * contract multiplier * order quantity) of an order or quote
Max Message Rate - maximum number of messages that can be sent to the exchange in a configurable amount of time
Rival Client-Side Risk
The Trader can set the following client-side limits. The client-side limits are superseded by the server-side limits set by the Risk Manager. The client-side limits are set separately for stock, futures, and options associated with each symbol.
Click-Trading (Trading Settings)
Default order size
Max order size
Minimum edge (theoretical value vs order price) required to enter an order
Auto-Quoting (ITS Settings)
The system will automatically pull quotes and turn off the quoting engine based on:
A maximum number of quotes crossed in the market
Maximum number of trades in a set period of time
Maximum jump in the mid-price of the underlying
Maximum spread of the underlying
Don't allow the user to start quoting unless they are quoting a certain % of the listed options
If the underlying trade price crosses outside the bid-offer
The quoter also has a configurable max width which limits user quotes from exceeding a certain width. Unlike other quoting controls; however, this parameter doesn't stop quoting activity.
Electronic Eye (ITS Settings)
The system will automatically turn off the electronic eye based on:
Maximum number of outstanding orders
Maximum number of outstanding lots
Maximum number of trades in a set period of time
Maximum jump in the mid-price of the underlying
Maximum spread of the underlying of the option hasn't changed
Wait a set period of time before shooting a second order on the same option if the price