iSAM Securities Expands Radar with Four New Risk Management Features
iSAM Securities has expanded its Radar risk-management platform with four new capabilities: Exposure Monitor, Hedge Alerts, LP Reconciliation, and Book Switch Impact. The new features give dealing and risk teams a clearer view of exposure, related accounts, and positions held with liquidity providers. They also help brokers identify risks earlier and evaluate the financial impact of execution decisions.
Exposure Monitor
Exposure Monitor gives dealing and risk teams a consolidated, real-time view of open symbol exposure in trading platforms. Brokers may set business-wide limits for each symbol. Then, Radar shows whether exposure is within the limit, approaching a warning threshold, or already in breach. Teams may receive alerts through their preferred communication channels when a threshold is reached. They can also drill into individual symbols to see which logins contribute the largest notional exposure.
Offset Positions
Hedge Alerts extends Radar’s Network Alerts by identifying when the same trader holds materially offsetting positions across related accounts. The accounts can sit with one brokerage or across several brokers within the Radar Network. Radar uses a proprietary clustering methodology to group related accounts and create a single view of the underlying trader. The platform identifies more than 1,500 cross-broker hedged accounts within the Radar Network each month.
LP Reconciliation
The new LP Reconciliation feature tracks and reconciles exposure between a broker’s bridge, liquidity providers, and trading platforms in real time. When a broker moves one or more clients between books, Radar automatically recalculates their total open exposure. If it identifies a break, it sends an immediate alert. The feature also breaks down exposure differences by symbol and liquidity provider.
Book Switch Impact
Book Switch Impact helps brokers review the financial effect of changing a client’s execution profile. Radar detects profile changes and creates a historical timeline showing when each profile was active. This includes parameters such as A-Book and B-Book routing, spreads or markups, time delays, and book depletion.
The feature also helps risk teams assess whether a client should remain A-Booked or be considered for a move back to B-Book. A key part of the feature is PnL A. It estimates the PnL a broker could have generated if it had retained the client’s risk instead of hedging it externally.
What Executive Says
Dennis Weissert, Chief Commercial Officer of Apex, explained that Radar’s development works on the decisions brokers make in their daily operations. He said the new releases give teams better visibility into where risk is building, what is driving that risk, and whether their actions remain appropriate. The new capabilities build on Radar’s existing alerting, analytics and investigation tools, including Trader Details, Aftermath, Flow Explorer, Peer Analytics and Network Alerts.
About iSAM Securities
iSAM Securities is an algorithmic trading firm. It is known for its role as a liquidity, technology, and prime services partner to institutional clients. It was originally a part of the ISAM capital markets group. The firm rebranded to iSAM Securities to consolidate its services under a single identity.
Wrapping Up
With these four additions, iSAM Securities has expanded Radar in more stages of the broker risk-management process. Now, the platform gives teams more visibility into exposure, related trading activity, liquidity-provider reconciliation, and the financial impact of execution decisions.
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