Out of band credit control
Systems, apparatuses, methods, and computer readable media may be configured for informing a first node of a first fine precision algorithm for calculating a first credit utilization associated with a trading entity, and of whether to use a first coarse precision algorithm instead of the first fine precision algorithm as long as the first credit utilization remains below a first credit threshold, receiving first credit information data from the first node and second credit information data associated with the trading entity from a second node, and determining aggregate credit information data for the trading entity based on the first credit utilization data and the second credit utilization data.
1. A computer implemented method comprising:
processing, by a processor of a first node server, at least one instruction to use a coarse precision algorithm and a fine precision algorithm for calculating credit utilization of a trading entity, wherein the instruction specifies use of the coarse precision algorithm until determining that a credit threshold is met or exceeded and specifies use of the fine precision algorithm after determining that the credit threshold has been met or exceeded, and wherein the coarse precision algorithm is different from the fine precision algorithm;
processing, at the first node server, an order request or a trade request associated with the trading entity for trading of a financial instrument; and
determining, by the processor of the first node server, the credit utilization of the trading entity in accordance with the at least one instruction.
2. The method of claim 1 , wherein the determining of the credit utilization further comprises determining, using the coarse precision algorithm, the credit utilization prior to execution of an order specified in the order request or a trade specified in the trade request.
3. The method of claim 1 , wherein the determining of the credit utilization further comprises, in response to the fine precision algorithm determining that the credit utilization does not exceed an allocated credit limit associated with the trading entity, permitting execution of the order or of the trade, and communicating data on the second-credit utilization to a management computer.
4. The method of claim 1 , further comprising determining that the credit utilization exceeds an allocated credit limit associated with the trading entity.
5. The method of claim 4 , further comprising preventing execution of the order or the trade.
6. The method of claim 4 , further comprising:
communicating a request for additional credit; and
receiving a response to the request.
7. The method of claim 6 , further comprising;
permitting execution of the order or the trade as a result of the response allocating additional credit.
8. The method of claim 6 , further comprising:
preventing execution of the order or the trade as a result of the response not allocating the additional credit.
9. The method of claim 1 , wherein the coarse precision algorithm is executable more quickly and provides a less accurate determination of credit utilization than the fine precision algorithm.
10. An apparatus comprising:
at least one processor; and
at least one memory storing executable instructions that, when executed by the at least one processor, cause the apparatus at least to perform:
processing at least one instruction to use a coarse precision algorithm and a fine precision algorithm for calculating credit utilization of a trading entity, wherein the instruction specifies use of the coarse precision algorithm until determining that a credit threshold is met or exceeded and specifies use of the fine precision algorithm after determining that the credit threshold has been met or exceeded, and wherein the coarse precision algorithm is different from the fine precision algorithm;
processing an order request or a trade request associated with the trading entity for trading of a financial instrument; and
determining the credit utilization of the trading entity in accordance with the at least one instruction.
11. The apparatus of claim 10 , wherein the determining of the credit utilization further comprises determining, using the coarse precision algorithm, the credit utilization prior to execution of an order specified in the order request or a trade specified in the trade request.
12. The apparatus of claim 10 , wherein the determining of the credit utilization further comprises, in response to the fine precision algorithm determining that the credit utilization does not exceed an allocated credit limit associated with the trading entity, permitting execution of the order or the trade, and communicating data on the credit utilization to a management computer.
13. The apparatus of claim 10 , wherein the coarse precision algorithm is executable more quickly and provides a less accurate determination of credit utilization than the fine precision algorithm.
14. A non-transitory computer readable medium storing executable instructions that, when executed, cause an apparatus to perform operations comprising:
processing at least one instruction to use a coarse precision algorithm and a fine precision algorithm for calculating credit utilization of a trading entity, wherein the instruction specifies use of the coarse precision algorithm until determining that a credit threshold is met or exceeded and specifies use of the fine precision algorithm after determining that the credit threshold has been met or exceeded, and wherein the coarse precision algorithm is different from the fine precision algorithm;
processing an order request or a trade request associated with the trading entity for trading of a financial instrument; and
determining the credit utilization of the trading entity in accordance with the at least one instruction.
15. The computer readable medium of claim 14 , wherein the determining of the credit utilization further comprises determining, using the coarse precision algorithm, the credit utilization prior to execution of an order specified in the order request or a trade specified in the trade request.
16. The computer readable medium of claim 14 , wherein the determining of the credit utilization further comprises, in response to the fine precision algorithm determining that the credit utilization does not exceed an allocated credit limit associated with the trading entity, permitting execution of the order or the trade, and communicating data on the credit utilization to a management computer.
17. The computer readable medium of claim 14 , wherein the coarse precision algorithm is executable more quickly and provides a less accurate determination of credit utilization than the fine precision algorithm.