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Electronic Trading Risk Management

Advising clients on the latest risk management practices

GreySpark’s Electronic Trading Risk Management (ETRM) service is designed to help large financial institutions operate within the highly regulated world of capital markets. The service portfolio provides a proven governance framework that can encompass any electronic trading business and transcends vertically through the lines of defence. Our advisory service always incorporates the latest thinking in risk management practices and delivers digital governance that will enhance light-of-sight through all three lines-of-defence. We have deep functional and technical expertise and rigorous and proven methodologies that we can share with our clients across the globe.

Our Value

Financial Institutions have largely settled on their self-assessment and controls review processes and application of risk-based analysis in the electronic trading risk management space, but few have a mature Operational Risk management practice and line-of-defence with proper authority and skills to adequately perform the most important aspect of their job, credible challenge.

Many find that they are expending too much effort in the administration of the processes for risk control self-assessment (RCSA), and not enough value is created by their controls-work to benefit front-line businesses. A remedy to much of the pain felt by financial institutions is the implementation of a next generation electronic trading risk management operational framework.

GreySpark brings a deep and practical understanding of the risks associated with electronic, algorithmic and automated trading to our clients. We have a proven ability to integrate adaptable and agile risk management processes and risk controls. Through our Digital Governance intuitive, we can embed them into the operational fabric of the organisation. GreySpark provides not only advisory services, but will also design, develop and build solutions for our clients so that they can rely on cutting-edge Electronic Trading Risk Management technology and processes going forward.

We combine years of research and experience in this space with that of our technology partners, to train our clients and implement new practices and technology. Our value mandate is for our clients to become independent and empowered in operating their Electronic Trading Risk Management processes, and to have confidence that they have the tools they need to control their businesses.

Interested in GreySpark's Electronic Trading Risk Management Services?

Service Elements

The Electronic Trading Risk Management (ETRM) practice has an established mission to provide our clients with intelligent advice and support that is relevant both today and in the long term.

Our focus is to drive meaningful change, improve the efficiency for managing operational risk, set the sights for ‘value add’ controls management over and above regulatory mandates, and provide the knowledge foundation for banks to scale themselves progressively.

Governance Documentation

  • Algo inventory & eTrading Controls Register (ETCR)
  • Limit Management & Limit Frameworks
  • Kill switch Playbooks / Runbooks
  • Electronic Trading Oversight Committee
  • SFDR Implementation of Policy and Practices
  • Policy & Procedures Management
  • ESG Data Management & Control

Audits & Quality Assurance

  • MiFID II RTS 6 Risk Controls Self-Assessment (RCSA)
  • Pre-Trade Risk Controls (PTRC) Assessments
  • Model & Algo Risk Management
  • SEC Market Access Rule 15c3-5 Compliance
  • Market Abuse Risk Assessment
  • SMCR Fitness & Probity
  • AML & Cyber

Progressive Digital Governance

  • Regulatory Compliance Hierarchy Management
  • Trading Algorithm Centralised Risk Control Register Management
  • Deployment 1LOD Centric Governance, Risk & Compliance (GRC) Solutions
  • Material Change Algorithm Management
  • Algo Controls Meta Data Management
  • Incident Risk Management Mapping
  • Risk Limit Incident Management & Escalation Case Management
  • Centralised Operational Resilience Tolerance Monitoring and Scenario Testing

ETRM Training

  • Comprehensive algo and model risk management training course with delivered materials
  • Typically designed for 2LOD and 3LOD teams

Knowledge Repository

Find the information you need to help you navigate the complex business and technology challenges you face today.


Our ever-growing repository of industry research contains authoritative, in-depth reports by our Capital Markets Intelligence (CMI) research practice.


Check out our Insights page of articles and short reports cultivated from the collective capital markets expertise of GreySpark’s UK Consulting Advisory and Project Delivery practice.

Careers at GreySpark

We want our professionals to be proud of being a part of an international, fast-pace, growing organisation with great prospects.