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Back to Ultra Trade Main Features
Introduction
Ultra Trade is stock trading software targeted for small to medium
sized stock exchanges. It is a highly scaleable and cost effective
solution for the emerging stock exchanges. State-of-the-art
technology has been used for the best performance and very good
response time to the end-user. Recent benchmark result shows that
system is capable of at least 100,000 trades per hour.
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System
Architecture
Ultra Trade is highly parallel and distributed system by its
design. Server components can be distributed on multiple machines
and each component can take the full advantage of multiprocessor
machines. Communication among all components is carried out using
the high speed TCP communications that is world wide proven for
real time stock trading. Main components of the Ultra Trade are as
follows: Trading Engine receives orders from the trading terminals
and processes them accordingly such as executing, changing,
deleting and queuing. Inquiry Server responds to different
inquiries and reports from the trading terminal. Market Server
holds best market and best price levels for all symbols and
responds to trading terminals on request. Statistics Server
computes and holds different statistics for symbol and exchange
and provides the trading terminal on request as well as on
real-time basis. Login Server performs user authentication and
initialize the trading terminal. Dumper dumps the orders and
trades into the database in real time for settlement and
dissemination system.
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User Interface
The broker can enter Buy/Sell orders, cancel or change an existing
order, cancel all outstanding orders globally in a particular
symbol & also in all markets, and place a request to cancel a
trade with Market Control. A comprehensive set of real time
screens are provided to monitor the symbol and exchange
statistics. Market Watch is an interface to monitor the market
activity for selected symbols. Order Book shows the real time
status of your orders in real time. Orders can be touched and
canceled visually through this interface. Message Window shows the
order and trade confirmations, cancellations, bulletins and
messages from other traders. Water Fall Ticker let the trader
watch the market activity in real time along with symbol
statistics. Following set of reports is available to view and
print. Remaining Orders displays all remaining orders of the
trader those are not executed yet. Daily Trade Log by User shows
all trades executed by a trader. Daily Trade Log by Symbol lets
the trader to view all trades in a particular symbol. Event Log is
a journal of all trading activities of a particular trader. Net
Position gives the summary of trades in each symbol to the trader.
Symbol Summary displays exchange wide statistics for a particular
symbol.
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to Ultra Trade Main Features
Order Entry
Traders can enter buy or sell orders, cancel or change an existing
order, cancel all outstanding orders globally in a particular
symbol & also in all markets (Regular, Carry Over, Odd Lot, Buy In
and Sell Out). The details available on an order include market
type, symbol, quantity, price, disclosed volume, trader Id, limit
order, market order, client account, expiry date, order nature and
trigger price. Contingent Order features include stop loss &
market if touched.
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Online Trading
Legacy trading application is provided to the end user over the
Internet first time in South Asia region. Full-blown application
with all trading tools is extended up to the investor through a
technology that is optimized for real time applications over the
Internet considering the low bandwidth issues.
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Security
There are three levels of login authentication in the Ultra Trade.
First password, second IP Address and third is MAC Address
authentication. Moreover multiple logins are restricted for
additional security. All critical messages are encrypted using
digital certificates and Public Key Infrastructure.
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Risk
Management System
Ultra Trade has unique feature of surveillance and risk management
built within the trading system. This system computes both pre and
post trade exposures and losses for each trader. An interface for
monitoring real time exposure and loss is provided to the
surveillance staff.
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Symbol Freeze and Alerts
System can be configured to generate alerts and freezes for
individual symbols in a particular market at price levels. Symbols
can also be temporarily exempted from freeze tests in the event
that exceptional trading activity is anticipated.
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Crash Recovery &
Reconstruction
Information in the message transaction journal can be used to
reconstruct the market to an exact point in time. The control
officer can accelerate through the transaction journal to a point
in time, then step through each transaction and examine its effect
on the market. All market and order status inquiries are available
in the "replay" environment. The market reconstruction facility
can be used for dispute resolution and investigation of irregular
market activity.
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Exchange
Management & Control Features
Following features are provided to the designated staff of the
exchange through Ultra Trade:
- A trade can
be "frozen" if it falls outside of price change - no further
orders will be accepted for that instrument until the trade
freeze is resolved.
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- Symbol
states can be changed on the fly.
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- Global
cancellation of all orders for a symbol or all symbols
placed by a trader.
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- Message
Broadcasts for immediate attention.
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- Trade
cancellation and late trade entry.
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- Market
summary inquiry to highlight trading activity.
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Scheduling/change of market states.
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- Real-time
exposure/loss of all members can be viewed or monitored.
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- An alert can
be generated to individual member firm before exposure/loss
limits hit.
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- Suspension
and/or restoration or view only state of a terminal.
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Ultra Trade Back Office
This comprehensive back office system is integrated with the
trading system. Using this system, clients may be monitored in
real-time based on buying power of a client account. It provides
account and terminal management features including commission
management and general ledger.
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