From the company's perspective, sharing an account allows a company to create and manage risk in an account that they own while sharing that account with an external client that they do not manage. For example, an FCM can control and manage the risk settings for an omnibus account that is then shared with a buy-side firm. That buy-side firm can create sub-accounts beneath the FCM account which the buy-side then assigns to it's own traders. In this scenario, the FCM company administrator is only responsible for account creation and management, while the buy-side is responsible for creating and managing users and assigning accounts to those users.
When sharing an account as a company administrator, consider the following:
As a client, account sharing allows you to manage your own users and control which traders are assigned to an account. Although your traders cannot exceed the risk limits set by the sharing company, you can assign additional risk limits to accounts you create under the sharing companies parent account.
As a trader, account sharing allows you to trade with multiple banks or FCMS, etc., while remaining a member of a "company" in the TT system. However, the risk limits are created by the firm who owns the account, so you cannot exceed the risk limits in the shared account as determined by the account owner (e.g., an FCM). You can continue to use the same Trade application workspaces, order book, audit trail, etc. Your user risk limits are configured by your own company.
When sharing accounts between companies and users, both have to be defined in the TT system via the Setup application. Users can trade in the production environment once they have accepted an invitation to join their company in the TT system.
As a company administrator, you can share accounts with users in other companies via the Accounts | Sharing tab in Setup. You do not have to use the Setup invitation process to share your firms accounts with users in other companies.
If the company that you will share the account with will be acting as an introducing broker, click Introducing Broker.
For example, if the account should appear to traders with the shared-with company's name, while your company still maintains full ownership and risk controls, check the Introducing Broker option when sharing the account. This allows the introducing broker (shared-with) company to set additional limits and permissions for their own sub-accounts assigned to your shared parent account, while still being subject to limits set on the shared account.
To prevent the shared-with company from assigning users to the shared account, uncheck Can assign users to child accounts.
In order to provide their client with access to a market, companies may need to share a user with another company. In this case, the shared-with company will assign an account with the market's credentials to the shared user, then share that account "back" to the shared user's company.
However, a company may want to lock certain user fields (e.g., Operator ID) on the shared account or prevent companies from adding users to the related child accounts. As an administrator, there are two settings you can use when sharing an account with a user who has been shared with your company:
When the Can assign users to child accounts setting is unchecked on a shared account, consider the following:
In this example, a client firm (Client-A) shares one of their users (user1) with a broker (Broker-B) in order to provide "user1" with access to CME:
Note: Using Order Tag Defaults, Broker-B sets the "Operator ID" field on account1 and checks the Apply to all sub-accounts checkbox to ensure that any child accounts created under "account1" will send the Broker-B Operator ID to CME.
Note: When sharing the account, Broker-B unchecks the Can assign users to sub-accounts setting to ensure that only "user1" can trade with this account.