- LISA | Clearing Engine
Overview
Architecture
Connectivity
The Alternative Matching and Clearing Solution
LISA Clearing Engine is a matching and clearing solution which allows your firm to streamline all of its post-trade operations. Its unique architecture and set of advanced clearing functions delivers both high performances and reliability and empowers your operational teams.
Pushing the boundaries …
LISA Clearing Engine delivers all necessary middle-office functions. But LISA goes further to:
- Deliver the performance and stability your operations and clients are expecting.
- Make sure all exchange specific clearing functions are made available to the operators,
- Ensure your IT department can smoothly integrate LISA with 3rd party systems via our message-based API
- Provide your IT department with all the necessary real-time monitoring tools.
Main features
LISA Clearing Engine delivers all standard middle-office functions:
- Capture all your trades through a variety of different exchanges and venues
- Uppload client allocation instructions through multiple sources
- Standard quantity/percentage/High Low allocations capabilities
- Automated matching and clearing
- Managing risk limits
- Real time follow up on trade status, exception management
- Support for all exchange specific features (APS, GiveIns, GiveUps, reversals…)
- Standard export to all book-keeping systems or other in-house systems.
Most importantly, LISA Clearing Engine also delivers a unique set of added value features and differentiators:
- Advanced set of allocation algorithms such as “fair price allocation” rules, over multiple prices and any given period of time (daily, weekly, monthly…)
- Allocations at Average Price
- Advanced Auto Clearing Rules (ACRs) based on trade patterns and user defined rule outcomes (e.g., Allocate, Mark as APS, on Hold…)
- Advanced matching rules (all trade details can be used for matching purposes)
- Position monitoring across all your accounts (Account Recap)
- Instant access to Trades and Orders historical data
- Automatic roll over for uncleared trades from one day to another
- Full audit trail (trade, clearing, static data …)
- Customized client confirmations (emails, FIX, PDF …)
- Openness of the system and extended connectivity:
> Support for 50+ markets
> FIX support (Inbound/Outbound, drop copies for confirms, allocations …)
> Execution platforms connectors (TT, PATS, CQG, FIDESSA …)
> Other sources (e.g., Bloomberg EMSX)
> All data available through message-based APIs at any point in time.
Operational efficiencies
LISA Clearing Engine has been designed with our customers to ensure they get the best out of our solutions:
- Bulk copy/edit of all static data; create hundreds of accounts in a single click
- Native static data upload from your book-keeping systems (e.g., accounts)
- Native integration (message based) with in-house risk systems or other 3rd party applications
- Real-time exchange and system warning and alerts
- Single click filter on markets, memberships, trade status through “matrix” filter
- Color based warnings on trades that are “untouched” over a given period of time
- Ability for customers to design and run ad-hoc reports from our ATEO Reporting Tool (part of the ATEO tool kit)
- LISA Web Client module allows end customers to monitor their trades online throughout the entire trade life-cycle.
KEY SUCCESS POINTS
SUPPORT FOR ALL EXCHANGE
SUPPORTED CLEARING FUNCTIONS
- Allocations (Trade Account change),splits, Give-up/Take-up request
- Open/Close and price adjustments
- APS mark/unmark, APS group complete/cancel
- CTI adjustment, Pit trade submit (CME Group)
- Exercise/Assignment
ALLOCATIONS
A COMPLETE SET OF ADVANCED FUNCTIONS
TO AUTOMATE COMPLEX ALLOCATIONS:
- Allocation Clearing Rules (ACRs), using any trade attribute or user-defined pattern
- Multiple clearing actions (GiveUp, Mark as APS, on Hold…) resulting from successful ACR
- Algorithmic allocations allowing time based (day, week, month) allocations across multiple prices, multiple accounts
- Additional High/Low, odd lots management
EXTENDED CONNECTIVITY
- 50+ markets
- Connectivity to all major execution plat forms (TT, PATS, GL, FIDESSA, CQG …)
- Extended support for FIX connectivity (inbound allocations, outbound drop-copies) and Order feeds (BB EMSX)
PERFORMANCE
- With a simple and reliable architecture, our gateways have been built to handle both high volumes and intra-day peaks.
- Gateways are built to recover a full day’s
*transactions in less than an hour. - Visualize all your business across all markets, all memberships within 1 single screen (up to 5,000,000 trades)
OPERATIONAL EFFICIENCIES
- Real time position tracking
- Native back-office accounts integration (one-off or intra-day)
- Real time exchange and system alert messages and warnings
- Web based front-end for end customers
INTEGRATION
- Seamless message-based integration with 3rd party systems Back-office systems, 3rd party Risk systems,
- Execution platforms, clients’ allocations feeds
RISK / COMPLIANCE / AUDITING
- Risk module for monitoring intra-day (Net/Gross) positions and Accept/Block clearing based on user defined rules
- Full and real-time audit trail (trades, static data)
- Unlimited access to historical data
COST EFFECTIVE SOLUTION
- System can be installed in one unique location and support activity across al regions
- This results in a minimal footprint and easier maintenance
- Single core license and market-based license (inclusive of all underlying memberships)
SERVICES
- 24 hours support, online and real-time tracking of all opened requests
- A team committed to help you grow your business, address your requirements, deliver enhancements
FULL MONITORING
COMPLETE SET OF TOOLS AND LIBRARIES ALLOWING YOU TO
- Monitor all technical components, latency, expected clearing time, average allocation time
- Monitor clearing activity, volumes, cleared/pending trades, pending GiveIns/GiveUps
- Web based tools to build/customize ad-hoc reports