Price list
Pricing
Published prices for the annual licence, per environment and per trader, with oversight seats included. Pilot terms can be sized to smaller desks.
What you pay for
- PLATFORM
- $40,000 per year for each environment, a private copy of DojiPad · one firm, one copy. One environment is one firm's deployment. It covers our guidance while your administrator installs DojiPad in your own cloud account and connects it to your staff logins, reading in and setting up your firm's limits, the audit trail, updates and support.
- TRADER SEATS
- $10,000 per trader per year · a seat is one trader working under your firm's limits. It includes DJ, DojiPad's AI coach, in each session, the check of each plan before the order, briefs, breach prediction, and a row on the list of limit breaches.
- OVERSIGHT SEATS
- Unlimited, no charge · for compliance, risk, desk managers and auditors.
- CLOUD COSTS
- DojiPad runs in your own Microsoft cloud account. You pay its running costs directly to Microsoft: about $200 a month for one environment, plus Azure OpenAI usage (the Microsoft AI service DojiPad uses), which depends on how much the desk uses DJ. The technical detail is on the technology page →
Total cost by number of trader seats
| TRADER SEATS | PLATFORM | SEAT FEES | TOTAL PER YEAR |
|---|---|---|---|
| 3 | $40,000 | $30,000 | $70,000 |
| 6 | $40,000 | $60,000 | $100,000 |
| 10 | $40,000 | $100,000 | $140,000 |
| 20 | $40,000 | $200,000 | $240,000 |
Support comes directly from the founder, at any hour, with a response within one hour.
Will it pay for itself?
Unmanaged bias costs discretionary managers an estimated 94 bps a year.¹ The table shows how much capital a trader would need to manage for the licence to pay for itself, if DojiPad helped recover part of that cost.
| Share of the 94 bps recovered | Capital per trader to cover one seat ($10,000) | Capital per trader, six-trader desk including the platform fee ($100,000) |
|---|---|---|
| 100% | $1.1m | $1.8m |
| 25% | $4.3m | $7.1m |
| 10% | $10.6m | $17.7m |
Illustrative arithmetic on a published industry figure, not a forecast of results. The 94 bps is the size of the problem, not a promised return. Licence only: Azure running costs (about $2,400 a year, plus Azure OpenAI usage) are extra. Below about $1.1m per trader, a seat doesn't pay for itself even at the full figure.
¹ Essentia Analytics client research, 2020. Full sourcing in Exhibit A.
The pilot: thirty days on one desk
The pilot runs for 30 days from go-live, on one desk, with up to 6 seats. It runs in your own cloud account, and setting up your firm's limits is included. It costs $10,000. The fee is credited in full against the first year when you subscribe. The thirty days start when the desk is live. Setup is done first and is not counted. After that, the subscription is annual. In year one you have a 90-day right to terminate.
$10,000 · 30 days from go-live · one desk, up to six traders, unlimited oversight seats · credited in full against year one if you continue
Features not yet released are not priced
The deviation record will compare the trades actually made with the plan, using your feed of executed orders. It is on the roadmap, and it is not priced until it ships.
Pricing questions
Why are oversight seats free?
The list of limit breaches only works if everyone who should read it can. Charging for oversight seats would keep the firm's own supervisors away from what the product is for. Seats are charged where the coaching happens: for traders.
What counts as a seat?
One trader working under your firm's limits. The seat includes DJ in each session, the check of each plan before the order, briefs, breach prediction, and a row on the list of limit breaches. Compliance, risk, desk managers and auditors do not need seats.
How are multi-desk firms priced?
The platform fee covers one private copy of DojiPad for the firm. All desks share it, and trader seats are counted across the firm. A firm that wants a separate copy for each desk pays the platform fee for each copy.
What currency are prices in?
The price list is in US dollars. Contracts can be quoted in your currency, at a rate fixed for the contract term.
What does the platform fee cover?
Our guidance while your administrator installs DojiPad in your own cloud account and connects it to your staff logins, reading in and setting up your firm's limits, the audit trail, updates, and support.
Why is there no free pilot?
The pilot runs in your own cloud account, on your firm's actual limits. Installation, by your administrator with our guidance, and setup are done properly. That work is real. The fee is credited in full against the first year when you subscribe.
- Cost
- The platform is $40,000 a year per environment. Each trader seat is $10,000 a year. Oversight seats are unlimited, at no charge. They cover risk, compliance, desk heads and auditors. A six-seat desk costs $100,000 a year. Pilot: $10,000 · 30 days from go-live · one desk, up to six traders, unlimited oversight seats · credited in full against year one if you continue.
Pilot
The 30-day pilot
A controlled evaluation on one desk. The scope, the price and the success criteria are set before it starts.
Pilot terms
Thirty-day evaluation
ONE DESK · YOUR OWN CLOUD ACCOUNT- DURATION
- Thirty days, counted from the day the desk is live. Setup comes before the pilot and is not counted. Setup takes one to two weeks after your firm's approvals.
- SCOPE
- A single desk. Up to six traders, with unlimited oversight seats. Portfolio managers take part only if they opt in.
- ENVIRONMENT
- Installed in your firm's own cloud account from day one. ARQNXS hosts nothing, at any point.
- YOUR LIMITS
- Set up with your firm's actual limits, not demonstration values.
- PRIVACY
- The trader's side is private by design from the first session. Participating traders are told this in writing.
- DECISION
- The exit criteria are agreed before the pilot begins. The decision meeting is booked at kickoff, not afterwards.
- ApprovalsYour timeline
- SetupOne to two weeks
- Go-liveThe pilot clock starts
- 30-day pilotCounted from go-live
- DecisionAgainst the criteria agreed at kickoff
Pilot cost, who provides what, and when
- PRICE AND CREDIT
- $10,000· credited in full against the first year when you subscribe. After that, the subscription is annual. In year one you have a 90-day right to terminate.
- IN ONE LINE
- $10,000 · 30 days from go-live · one desk, up to six traders, unlimited oversight seats · credited in full against year one if you continue
- SEATS
- Up to 6 trader seats· oversight seats unlimited, as always.
- THE FIRM PROVIDES
- a Microsoft cloud account (Azure), with an Azure OpenAI resource: the Microsoft AI service DojiPad uses;
- an administrator for the deployment;
- the user groups for your staff logins;
- the document that sets out your firm's limits;
- a named officer: your risk or compliance owner, for two workshops;
- the desk's traders, from go-live.
- ARQNXS PROVIDES
- Guidance on a call while your administrator installs DojiPad, two workshops to set up your firm's limits, and the kickoff decision meeting, in that order.
- ORDER
- First, your administrator installs DojiPad in your firm's cloud account, with our guidance, and we set it up with your firm's actual limits in two workshops. This setup comes before the pilot and is not counted. At go-live, the kickoff decision meeting takes place. The thirty days run from that day.
- EXIT CRITERIA
- Agreed with each firm before the pilot begins. Examples: officers use the list of limit breaches in their daily review; how quickly breaches are acknowledged; how many traders who opted in stay in for the thirty days.
What we measure, and how you decide
From day one, we measure five things:
- Coverage: how many plans the desk stated. Your team checks this against its own order log.
- Breaches flagged at the plan: plans that would have breached a limit, flagged when the plan was stated, by limit and by trader.
- Response: whether traders changed those plans before committing, or committed them as they were.
- Oversight: how quickly risk and compliance reviewed each breach, and whether the record works for your compliance team.
- Breach prediction: how the predictions compared with each trader's next committed plan, where there is enough history.
How you decide
At kickoff we agree with you which of these measures matter and the threshold for each. Day 30 is then a yes or no against criteria set on day one.
How this connects to the 94 bps
The 94 bps shows what is at stake, and the table above shows how little of it the licence needs. The pilot shows whether DojiPad works on your desk. Measuring recovered basis points directly needs the execution feed, which is on the roadmap.
Smaller desks
Running a smaller desk? Pilot terms can be sized to it. We agree them in the briefing.