The Digital Vega platform provides a comprehensive set of features to support Prime Brokers and their clients’ use of the platform.
Maximum trade size – The Digital Vega platform allows the Prime Brokers to specify a maximum notional trade size for client trades.
Minimum tenor – The Digital Vega platform allows the Prime Brokers to specify a minimum tenor for all trades. This is optional and the minimum default is ‘Overnight’.
Maximum tenor – The default maximum tenor is 1 year. Prime brokers may select a shorter maximum tenor.
Maximum NOP/Delta Limit – The Digital Vega platform allows the Prime Brokers to specify a maximum net open position/delta limit in USD for:
The client overall
The client against each Executing Broker
Limit Utilisation Thresholds – The Prime Broker can set limit-utilisation thresholds each expressed as a percentage of the overall limit. As thresholds are breached the Prime Broker and Digital Vega are alerted by the platform as well as by email. The Medusa platform can be set to block any further trading when a threshold has been breached.
Traiana Harmony ‘Give-up’ Notifications – Digital Vega is fully integrated with the Traiana Harmony Network. The Prime Broker can chose to have Digital Vega sent them notifications via Harmony or alternatively, to only receive notifications from the Executing Broker. This is an optional service provided by Digital Vega.
Email Trade Notification – The Prime Broker can receive email notification of client trades as they are executed. This is an optional Digital Vega service provided for Prime Brokers.
End-of-Day Activity Report – The Prime Broker can receive email notification of client trades at the close of business New York time. This is an optional Digital Vega service provided for Prime Brokers.
‘Kill’ switch – The Prime Broker can stop all trading for a specific client by hitting the ‘Kill’ switch and disabling the client against all Executing Brokers.