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Direct Edge Introduces EdgeRisk Controls

Direct Edge Logo

JERSEY CITY, N.J., Nov. 30, 2012 (GLOBE NEWSWIRE) -- Direct Edge®, one of the world's leading equities exchange operators, today launches EdgeRisk ControlsSM, a pre-trade risk tool for EDGA Exchange (EDGA®) and EDGX Exchange (EDGX®) that facilitates compliance with the SEC Market Access Rule 15(c)3-5 for broker/dealers and their clients. EdgeRisk Controls, which is the first risk offering from Direct Edge, provides pre-trade protection with real-time, intraday risk checks specified via a web interface. Pre-trade controls are integrated directly into the EDGX and EDGA exchange trading infrastructure, allowing users to control the entry of orders against trading checks on a real-time basis.

"EdgeRisk Controls is in response to an increased demand from Direct Edge Members for comprehensive pre-trade risk tools that do not compromise efficiency," said Bryan Christian, head of sales at Direct Edge. "As the industry focuses more on risk management and controlled access to the markets, we believe this service, provides a set of risk management tools that give our members greater confidence and controls in accessing our Exchanges."

The interface allows users to control the entry of orders against trading checks that include:

  • Restriction of specific order types (Short Sale, etc.)
  • Maximum notional value per order
  • Maximum order size
  • Limit price threshold parameters
  • Easy-to-borrow symbol list
  • Restricted symbol list
  • Cancel all existing open orders and/or prevent new orders from being entered into EDGX or EDGA (i.e. a member controlled "kill switch")
  • Order entry blocking
  • Aggregate risk credit limit controls
  • Open orders
  • Executed orders
  • Open and executed orders

Direct Edge

Direct Edge is one of the leading stock exchange operators in the United States and globally. Headquartered in Jersey City, New Jersey, Direct Edge offers dynamic trading functionality across two distinct platforms, EDGA and EDGX, as well as connectivity and market data services. Its commitment to innovation and superior customer service helps its Members move their business lives forward. In November of 2011, Direct Edge announced plans to expand internationally with the opening of Direct Edge Brazil, a Rio de Janeiro-based electronic stock exchange for the trading of Brazilian equities. Direct Edge is owned by a consortium that includes affiliates of Citadel LLC; Goldman Sachs Group, Inc.; International Securities Exchange, LLC.; JPMorgan Chase & Co.; and Knight Capital Group, Inc. More information is available at www.directedge.com and www.directedge.com.br.

The Direct Edge logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4803

CONTACT: Press Contact: Jim Gorman Direct Edge jgorman@directedge.com 201-942-8234

Source: Direct Edge