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Risk Management Controls

For Sponsored Access SIX Swiss Exchange provides Sponsoring Participants with specific Pre- and At-Trade Risk Management Controls (RMC) to allow them to restrict and prevent trading activity beyond certain limits. The use of the Pre- and At-Trade Risk Management Controls is mandatory and the Sponsoring Participant is responsible for the configuration, maintenance and monitoring of these controls and, where relevant, limit utilization.

The Risk Management Controls available to the Sponsoring Participant for Sponsored Access order flow are:

Pre-Trade (Order RMCs) At-Trade (Trade RMCs) Market Access (General RMCs)
  • Maximum Quantity
  • Maximum Value
  • Price Collar
    (Aggressive & Passive *)
  • Maximum Orders per Second
  • Total Risk Value
  • Buy Risk Value *
  • Sell Risk Value *
  • Total Net Risk Value
  • Total Number of Orders
  • Total Traded Value
  • Total Exposure
  • Restricted Stock List *
  • Kill-Switch

* Optional Risk Management Controls

All Risk Management Controls may be configured and updated by the Sponsoring Participant via

  • Sponsored Access RiskXposure Graphical User Interface (RX GUI); or
  • File Upload

The Risk Management Controls can be modified intra and inter-day via RX GUI or file upload. All Risk Management Controls are persisted.

Sponsoring Participants can further manage risk either by activating the "Kill-Switch" which deletes all outstanding orders of the Sponsored Users and prevents new order entries or by defining a "Restricted Stock List" which details securities in which their Sponsored Users are not allowed to trade in.

Find further details about the Risk Management Controls in the Service Description[pdf] and Risk Management Control Overview[pdf].