Automated Order Routing Systems - Explaining the responsibilities of brokers and users

This short web-based training course has been specifically designed by the FOA for its members' clients that access exchange-traded derivative exchanges via automated order routing systems. It is being delivered by Complinet, the company that enables firms to better understand and minimise their exposure to risk by providing, among other activities and programmes, both the content and technology of its e-learning services.

Objective of the course

To raise clients' awareness and understanding of their responsibilities and obligations, the rules and regulations and some of the risks associated with accessing exchange-traded derivative markets via automated order routing systems. In addition, it highlights some of the responsibilities that brokers have to their clients and the wider marketplace.

Benefits to FOA Members

• Helps to meet exchange expectations regarding the training of order routing clients
• Helps to delineate responsibilities between brokers and clients
• An on-line training record that is captured centrally for each client could be useful in the event of a dispute
• Helps to clarify the client's obligations set out in the broker's terms of business

Benefits to clients

• Improves understanding of the obligations and risks associated with the use of electronic order routing systems
• Helps to reduce legal / regulatory risk and, in turn, reputational risk
• Complements the client's own in-house training of its traders

Key Features

The course covers a wide range of issues including the following:

• The broker's responsibilities to his client e.g the provision of documentation
• The member's responsibilities and obligations, e.g observing exchange rules and trading procedures
• The risks that the client should manage, e.g regulatory, security, staff and IT risks
• Prohibited trades/practices and market abuse, e.g wash trades, abusive squeezes, trading on insider information.
• Where to find information on specific exchange rules and trading procedures

Delivery Options

The course is delivered via Complinet Limited's web site. Each user is given a unique username and password which gives them unlimited access to the course for as long as the client member retains the course.

Those FOA members that wish to deliver the course to their clients via their own IT infrastructure can request the course to be integrated onto their own learning management system.

Tailoring the course for your clients

Members have the option of adding their own content to complement the existing course. For terms and conditions, please contact Hugo Jenkins at the FOA.

Tracking which of your clients have completed the course

• Categorisation of clients into groups or sub-groups to allow firms to target the course at specific clients
• Tracking of users' progress by individual, by sub-group or group. It can also produce a full suite of reports for internal or external use
• Communication with clients via a messaging system - this can be used to deliver reminders, alerts about updates and so on.

Members who wish to administer the course with RecordKeeper will receive personal training on its use in addition to a RecordKeeper user guide for reference as well as continued support from Complinet's client service team.

Costs

Annual course license fee (one license is required for each individual course delegate) is £10 per client member of staff per annum.

This fee includes support and maintenance and does not include a separate LMS licence fee.

Delivery via FOA member's own infrastructure:

Complinet may deliver the course onto third party learning management systems by way of integration. The one-off fee per LMS for this course is £2,000, in addition to any course license fees.

NB: All prices are subject to VAT

How to subscribe to the course or arrange a trial

FOA members that wish to arrange access to the course or would like to receive trial access should contact Werner Kranenburg at Complinet on 0870 042 6400. For any other enquiries, please contact Hugo Jenkins at the FOA on 020 7090 1336.

FOA members may request trial access to the course by contacting  Complinet's Training Operations team directly via e-mail:trainingops@complinet.com