STT doubles user base as Sterling OMS adopted by TradeZero, Avenue, Banco C6

Rick Steves

Sterling Trading Tech (STT) has announced record growth of its order management system (OMS) offering, doubling its user base throughout the second half of 2022.

The accelerated use of the Sterling OMS is driven by increased demand for sophisticated functionality across the market, said the provider of order management systems, risk and margin tools and trading platforms.

Sterling’s OMS has been deployed by a number of notable firms over the past six months, including TradeZero Holding Corp., Avenue Securities, and Banco C6 S.A.

Fractional trading, Crypto, risk controls, algos, rules engine, routing wheel

The Sterling OMS features advanced order types, order preview, robust risk controls, algorithmic orders, and support for cryptocurrency trading. Key functionalities include:

  • Support for Notional & Fractional Orders: Enables users to enter orders based on dollar amounts or fractional quantities, providing increased trading flexibility
  • Rules Engine: Allows for custom rule creation and user-defined pre-trade checks
  • Review & Release: Defines rules results to provide a second look at orders
  • Routing Wheel: Automates order distribution based on pre-defined routing formulas to improve performance and reduce bias

Ravi Jain, Chief Product Officer at STT, said: “At its core, the Sterling OMS is built to address the needs and challenges our clients face and enable them to simplify their workflows. The significant momentum in adoption of our OMS offering is a testament to our collaborative approach with clients that ensures our product roadmap and development align with their priorities and industry trends keeping them competitive in the market.”

The Sterling OMS is designed for high-throughput specifications and supports market-leading connectivity to routing destinations, clearing firms, and EMS platforms. The scalable infrastructure features connectivity solutions, compliance checks, and the STT compliance reporting suite, which includes CAT and full life-cycle trade reporting.

STT added FX and Crypto to risk and margin system

It was in August that Sterling Trading Tech announced the addition of the FX and Crypto asset classes to its industry-leading risk and margin system, providing a new level of multi-asset risk coverage for clients.

The Sterling Risk & Margin System (SRM), which offers advanced analytics as a RaaS (Risk-as-a-Service) solution, already covered global equity, equity options, and equity futures markets for risk calculations.

The SRM uses quantitative and big data techniques to manage risk and monitor margin in real-time, calculating risk scenarios, stress tests, portfolio margin, risk-based haircuts, maintenance margin, and Value at Risk (VaR) for each account, with the capability to add and handle firm-specific house rules, the fintech explained.

The risk and margin system offers specific functionalities related to the new asset classes, which include:

  • Support of FX spot, forward and swap trades and positions, in any currency pair;
  • Support of crypto including crypto priced in any currency;
  • Risk aggregated by currency or digital asset, derived by extracting net exposure by currency across all pairs and non-USD equity and crypto trades;
  • Ability to view balances by fiat currency and crypto;
  • Risk shocks analytics based on fixed percentage moves and standard deviation moves;
  • VaR analytics for multi asset-portfolios including equities, fiat and crypto

In June, the firm appointed industry veteran Jeff Marston as Chief Technology Officer, who will manage the overall technology strategy, oversee technological investments to help drive business development, and oversee the development and delivery of technology solutions for clients.

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