How Firm58 has Helped Trading Firms

Firm58 specializes in solutions that deliver advanced automated P&L reporting for trading firms. By providing increased visibility to compliance threats and trading firms’ realized and unrealized P&L, we can help your firm reduce risk, manage operating expenses and achieve greater profitability.

Firm58 Significantly Improves Visibility to Trading Positions and Trading P&L

Based on Firm58’s reputation for providing sophisticated and automated P&L reporting for trading firms, a proprietary trading shop approached Firm58 for help in tracking trading positions and trade activity. The proprietary trading shop has a robust market access model that allows its traders to trade via their platform. However, the client’s business was facing several important challenges:

  • It was very difficult to calculate positions, executions, cancels and other trading information that helps the proprietary trading shop manage third-party traders
  • The clearing firm did not adequately aggregate and present actionable information for the proprietary trading shop
  • Trader positions, margins and activity were difficult to manage and oversee
  • The proprietary trading shop struggled to attract new business (traders to their platform) without tools in place to help the traders understand and manage their own positions, risks and costs

Firm58 provided the proprietary trading shop with automated P&L reporting for trading firms that provided:

  • A portal-based front end that traders could log into each day to see their positions and activity from the previous day
  • Robust, detailed and accurate daily online reporting to the proprietary trading shop via an overall firm position and risk analysis report
  • A compliance interface to oversee daily trading activity by account to identify regulatory concerns
  • A secure platform for operating the business

As a result of implementing the Firm58 solution, the proprietary trading shop achieved several important advantages:

  • Greater visibility into daily trader activity
  • Decreased risk of margin issues, losses and compliance failures
  • Increased business due to the robustness of the solution, compared to the anemic capabilities of its competitors