RiskDesk · Section
Controls
A threshold that produces an alert is monitoring. A threshold that stops the trade is a control. The distinction only matters on the day it matters, and by then it is settled.
Pre-Trade Controls
Checks that run before the order reaches the market.
Before executionKill Switch & Stop-Out
Automatic action when a threshold is crossed at 3am.
On thresholdDealer Intervention
When a person overrides the machine, and who signed it.
On judgementRule Automation
Policy written down once, applied every time.
Configured once
The order they fire in
Four layers, and the cheapest one is first
- 1
Rules
Policy configured in advance decides what is even permitted.
- 2
Pre-trade
The order is checked and blocked before it reaches the market.
- 3
Automatic
Thresholds crossed in-session trigger action without a human.
- 4
Manual
The desk overrides, and the override is attributable.
See it live
Every layer, visible on one screen
Pre-trade limits, automated thresholds and the kill switch sit on the same console the desk already watches, not in four separate places.
What happens on your book at 3am?
If the honest answer involves phoning somebody, that is the gap these four pages are about.