Administer desks
Propose trading authorizations and desk limits for institutional desks, and approve them with a distinct approver so limits take effect at order intake.
Institutional desk funding on the Trading Venue passes maker-checker control. One operator proposes a desk's trading authorizations and trading limits; a distinct approver confirms or rejects the proposal; and the venue reads the approved limits at order intake, rejecting orders that exceed them before they reach the book. Approval governs funding and limits, never individual fills, so the book stays live while the desk trades.
Desk-limit approvals are persisted platform records, held in the same maker-checker approval store that governs trade busting. Proposals survive sessions and restarts, every proposal and decision carries its actor and timestamp in the audit trail, and the platform itself refuses a proposer deciding their own record. Only approved records enforce at intake.
Before you start
- You hold the venue-operator role: platform administrator or organization owner.
- Two distinct operators are available: the proposer cannot approve their own proposal.
What maker-checker covers
| Governed by approval | Not governed by approval |
|---|---|
| The desk's trading authorization to the settlement contract | Individual orders and fills |
| The desk's trading limit in quote units | Market data access |
| Changes to an existing limit | Order cancellation |
An order that would take a desk's open exposure past its approved limit is rejected at intake with the desk limit named as the reason. The desk's traders see the rejection in the order ticket.
Propose a desk limit
Open desk administration
Go to Venue operations and open Desk administration.
Enter the proposal
Provide the desk name, the trader wallet, and the limit in quote base units, then click Propose desk limit. The proposal appears under Pending proposals, marked with the proposer.
Approve or reject a proposal
Review as a distinct approver
Sign in as an operator other than the proposer and open Desk administration. Each pending proposal shows who proposed it.
Decide
Click Approve or Reject. The screen refuses a proposer approving their own proposal, and it refuses a second decision on a proposal that was already decided.
Check the effective limits
An approved proposal moves into Effective desk limits. The venue reads these limits at order intake from then on.
Administer through the API
The desk-limit surface is available to integrations under the same maker-checker rules: GET /api/v2/addons/trading-venue-desk-limits lists the records, POST /api/v2/addons/trading-venue-desk-limits proposes one, and POST /api/v2/addons/trading-venue-desk-limit-decisions approves or rejects it as a distinct operator. See the trading venue API flows for the route semantics.
Troubleshooting
| Issue | What to check |
|---|---|
| Approve is refused | You proposed this limit yourself. A distinct approver must decide it. |
| The decision is refused | The proposal was already decided. Refresh the proposals list. |
| A desk order is rejected for limits | The order would take the desk's open exposure past its approved limit. Raise the limit through a new proposal, or have the desk reduce exposure. |
Related operations
- Trading venue market structure for how trading authorizations and limits gate intake
- Place and cancel orders for the intake checks a desk order passes
- Trading Venue capability for the full role model
Set a Trading Venue fee schedule
Set a market's maker and taker fees in basis points, understand how fees are charged on the quote leg, and see which resting orders a fee raise prunes before you apply it.
Bust an erroneous Trading Venue trade
Propose a trade bust inside the bust window, have a distinct approver decide it, and let the platform execute the compensating reversal that returns both legs, refunds the fee, and corrects statistics and published prices.