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.
At the company level, sharing a user with another company allows the sharing company to create users and maintain ownership of the shared user's day-to-day setup and user risk limits. The company with whom the user is shared creates, manages, and assigns the accounts to the shared user and maintains control of the risk settings on those accounts. For example, a buy-side firm can share users with an FCM, who can then assign accounts directly to those users, and can even control market data settings if needed. The buy-side is just responsible for creating users accounts.
If you shared a user with another company or if another company's user is shared with your company, consider the following restrictions on viewing or changing the user's settings or profile:
As a client, the user sharing functionality allows you to trade with multiple brokers and trading firms while remaining a member of your own firm. 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, but the account risk limits are provided by and managed by the company that you are being "shared" with.
However, if you leave your firm or company in the TT system to become a member or employee of another company, your workspaces, accounts, and positions remain with the company you are leaving. In this case, you would accept a second invitation from the new company to become an employee or member of that company.
As a company administrator, you can share your company users with another company by using the Company Relationships section on the Users | Profile tab in Setup.
Note: Unless they are leaving their firm to trade with yours, do not use the Setup invitation process to invite users in other companies to trade with your firm.
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.
Trading firms (e.g., FCMs) can create and manage users that are not employees or members of their company, but in doing so they are required to agree to manage and sponsor that user, and are therefore responsible for all fees associated with the sponsored user's log in and trading activity. If you do not wish to create, manage, and sponsor client users, then the client should instead create the users and share them with you.
As a company administrator, you would set up accounts and risk for sponsored users the same way you set up accounts and risk for users that are members or employees of your firm. Sponsored users can be administered (shared, deleted, cloned, etc.) the same as other users in your company.
As a user, being managed and sponsored by a company allows you to trade with and have your risk managed by a trading firm or broker in the TT system without having to be a direct employee of that firm, and without having to set up your own user. You can only be sponsored by one firm at a time, but if you decide to move to another trading firm, you keep your Trade application workspaces, position history, and audit trail history. The sponsoring firm that you left retains their accounts, risk settings, and positions in those accounts
Requesting to be sponsored by a firm is beneficial as a user if you have not previously joined your own or another company in the TT system, or if you have not set up a risk profile in TT and require another firm to provide you with the accounts and risk settings needed to trade TT.
The sponsoring company-user relationship is initiated by the Setup invitation process. As a company, you have to use the Setup invitation process to invite users to trade with your firm as sponsored users. This is the same process as inviting users of your own firm to join your company, so that they can trade in the production environment as members or employees of your firm.
As a user, you can accept an invitation to be sponsored if: