Pre-Trade Risk System

Nanoconda provides a Pre-Trade Risk System that enforces risk controls on all orders prior to submission to the exchange.

Orders that fail any configured risk check are rejected before transmission.

Risk parameters may be adjusted in real time by authorized parties, including the FCM.

System Scope

Function	Description
Pre-trade enforcement	All new orders are validated prior to exchange submission
Order state management	Maintains real-time order state per session
Order actions	Supports order submission, cancellation, and modification
Trading control (Kill Switch)	Allows trading to be enabled or disabled per session or algorithm

Risk Check	Description	Notes
Asset net exposure	Prevents orders that would exceed configured net exposure limits	Config: `maxpositions`
Clip size	Restricts maximum quantity per order	Config: `clipsize`
Fat finger	Blocks orders exceeding safety thresholds
Price bands	Ensures order prices reasonability	Exchange Price Bands
Session status	Blocks orders if session or algo trading is disabled or disconnected	GUI or API enabled
Throttle limits	Limits order actions submission rate	Config: `throttle-limit`, `throttle-window`
Maximum Daily Lots	Limits Total number of daily lots traded	Config: `maxdailylots`

Condition	Behavior
Risk check failure	Order is rejected
Exchange transmission	Order is not sent
Feedback	Rejection reason reported to session

Capability	Description
Parameter updates	Risk parameters may be updated in real time
Effect	Updates apply immediately to new orders
Authorization	Available to role: `clearer`

Real-time monitoring and control of the Pre-Trade Risk System is performed through the GUI or C++ Remote API