The Nasdaq Stock Market has revealed plans to add new risk management products to its trading platform.
Nasdaq said the new products would be designed for clearing firms, prime brokers, sponsored access providers, proprietary trading firms and retail firms.
Among the enhanced features Nasdaq will be offering pre-trade risk management functionality that allows risk managers and sponsoring firms to cancel all outstanding orders from firms and prohibit that firm from trading on Nasdaq. It will also include the ability for firms to quickly cancel orders in the new integrated single book via Nasdaq’s secure, web-based, front-end products.
Currently Nasdaq offers firms various risk management tools that allow them to monitor their customer’s trading and their own trading activity, commented Chris Concannon, Executive Vice President, Nasdaq.
We are rolling out new risk management functionality with additional safeguards for the benefit of our customers.