Risk Mitigation Symbology Working Group
Electronic trading specialists have an ever increasing need to validate their systems before deployment to trading desks in the live markets. Firms require a tool set where they will not be in danger of harming the reputation or financial stability of their respective institutions nor the market as a whole with poorly executed / timed test trades. There is a need for increased test symbology for all electronically traded asset types (i.e. Equities, Options, Futures, etc.) that ensures a secure, reliable and compliant business process. The Buy-Side Working Group within FPL Americas has proposed an idea to increase the availability of ‘listed’ test / spurious financial instruments (i.e. ZVZZT for equities) in the industry. Original thoughts revolved around the equity front office demands of validating indications of interest (IOI’s), order routing and execution however as the FIX Protocol adoption for post-trade matures, increased demand will follow for allocations and if so would therefore require test symbols that can be allocated and cleared without the transfer of monies.
The Buy-Side Working Group would like to expand this effort to other firm types within the FPL membership i.e. Broker Dealers, Exchanges, Market Data Vendors etc. The following regional subgroups have been developed:
Risk Mitigation Symbology - North America
Risk Mitigation Symbology - South America
Risk Mitigation Symbology - EMEA
Risk Mitigation Symbology - Asia Pac
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| Company | Name | Location | Phone |
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| Wellington Management Company, LLP | Lee Saba | | |
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