We tend to review our customers’ success and engagement with Tapaas on a periodic basis and hold customer meetings to discuss important observations. while conducting a customer review, we came to the conclusion that the interaction of this Customer with Tapaas dashboards is limited to a few workbooks out of the big package of tools that are available.
After discussing this insight with the Customer, we realised that this happens primarily because there are certain dashboards that cover all his daily needs but one – the ability to assess intra-day risk at trader level.
We are always keen on exploiting new ideas as a result of challenges our customers face. In this example, although Tapaas provides information about traders’ margin, leverage and profitability as an overall position at end of day, it did not provide such information in more frequent snapshots throughout the day. In the absence of such a Tapaas feature, our Customer had been manually extracting intra-day data from Trading Platforms to develop charts that would give them the data they needed. However, this approach was not only time-consuming, but it was missing information that would ideally be present, like the trader’s balance.
Clearly, this was a gap, which we could fill in order to help the broker evaluate traders’ activity and profitability over the course of the day more effectively. By looking at floating PnL in frequent captures over past periods, important insights could be generated, such as the reason behind stop out, or traders taking extremely high risk, nearing a margin call.
This requirement was raised internally, discussed and then the possible ways to tackle this challenge were presented to the customer. By using an iterative approach, our development team came up with a tool named “Client positions”, which was doing exactly what it was required to do; to provide more insight.
Client Positions tool comprises a line chart, which displays a trading activity at frequent time intervals within a day for several days. By looking at this chart, the user will be able to tell the exposure, equity, cash, realised PnL, unrealised PnL, margin, margin level and leverage used by the trader.
This latest feature has been added to our existing client-focused workbook known as the “Client Profiler”, which already holds various views of a client’s real-time and historical trading behaviour, which the Top and Bottom Traders Today and historically are, plus the ability to view the current risk by symbol and identify the clients that are trading this symbol on the current day.
By actively listening to the needs of our customers, we can only grow by helping. In this particular case, our Customer has already started using the tool and is very content with it. In addition, the Client Profiler workbook is now considered an integrated solution to profile traders and assist all of our customers with existing and emerging related challenges in the Industry.