Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 3 terms
A written set of rules covering universe, setup, trigger, stop, exit and position size.
The test is whether someone else could read it and place the identical order. Every rule you fail to write down in advance is one you will improvise at the worst possible moment.
Dedicated connections to the trading system, provided by the exchange, through which a broker whose own platform has failed can still square off clients’ positions.
Provided by the exchange, operated by the broker — which is the whole point, because on the day it happens the route still runs through reaching your dealer desk. Risk reduction only: nothing new is opened through them.
SEBI’s regime requiring brokers to report material disruptions to their trading systems within set timelines and to submit a root cause analysis afterwards.
It defines the event rather than leaving it to argument: a malfunction of five minutes or more in trading hours affecting login, order processing, visibility of funds or risk systems. There will be an official timeline of what happened, and your own timestamps are what let you check your account against it.