After the renewal of our website, BISTECH/OTAS Trading Terminal (TW) and FIX Simulator application files became available only under the menu of Verda on BIST Connect platform. Companies with no access to BIST Connect Platform, please send an email to firstname.lastname@example.org in order to request the application files
BISTECH PTRM / Pre-Trade Risk Management Application (PTRM - Pre-Trade Risk Management): It is a risk management application developed in integration with the BISTECH trading platform for controlling the risks thought to be exposed due to orders entered into the system and the transactions performed. With the application, the risks of the orders sent to the system from the transaction terminal, FixAPI and OUCH protocols and the transactions realized are checked.
With this application, the risk group controls that allow the management of the risks that may be caused by the users who send orders and make transactions, in line with the limits defined by the member; orders can be made at different stages, before being accepted into the system, after acceptance and after the transaction. If deemed necessary, the Exchange may also set limits for members on a general or instrument basis. In addition to these functions, it is possible to cancel all pending orders of all users under the risk group at once (COD (Cancel on Disconnect) - Automatic Suspension of Orders in Connection Break).
|Risk Control Before Transaction *||Instant Risk Control|
|Maximum Order Size||Position Risk Limits|
|Actionable contract / instrument constraint||Order / sec limit|
* Information on all risk limits and calculations that can be determined for each risk group can be found in PTRM Guides.
Maximum order size: A limit defined in relation to the maximum size of the order that can be sent to the system. According to the selected limit calculation method, the maximum size is calculated in terms of volume, quantity or value. The maximum order size can be defined on a market and / or instrument basis and is controlled by the limit system during order entry and order correction.
Transferable contract / instrument constraint: Users connected to the specified risk group can only enter orders and execute transactions for the market (s) - instrument (s) assigned to the risk group to which they are linked. For other Market and / or instruments that are not assigned to the risk group, they cannot enter orders and therefore cannot carry out transactions.
Risk Limits: These are the limits that control the orders and transactions that are defined and entered for the market and / or instrument assigned to the risk group of the users belonging to the risk group. After the order is accepted into the system, nine different risk calculations are made according to the risk calculation method used by considering the transactions performed by the users included in the risk group and the orders in the order book.
For Ptrm user guide click.