Product · The trader's side

How DJ, DojiPad's AI coach, works with traders

I.

How a plan is handled in a session

You talk a plan through with DJ. While it is still a plan, it is checked against your firm's limits. You then reshape it, or commit it to confirm it as your plan of record. You can send a brief to the desk. You write it yourself, or send DJ's draft unchanged. Either way, only you can send it. The conversation stays with you.

On this page

  1. 1 How a plan is handled You talk a plan through with DJ. It is checked against your firm's limits, and you reshape or commit it. →
  2. 2 What traders get A coach for the decision, the limits your firm shows you, your own patterns, and nothing in the way. →
  3. 3 Breach prediction How likely your next plan is to breach a limit, checked against what you do next. →
  4. 4 What you see of a breach You see less than the officer. The exact figure stays in the list of limit breaches. →
  5. 5 Privacy What reaches the firm, and what stays on your side. Your conversation with DJ is kept off the firm's screens by design. →
  6. 6 Questions traders ask Is this surveillance? Who can see my conversations? What do I get from it? →
  7. 7 What desk heads see The desk overview and breach predictions. The conversations stay on the trader's side. →
  8. → Request a briefing DojiPad running live on a simulated firm. We show it first from the list of limit breaches, then from the trader's side. →

What traders get

  • A coach for the decision. Talk the plan through with DJ (size, timing, reasoning) before the order.
  • The limits your firm shows you. Before you commit, you see whether the plan fits them. Your firm decides, limit by limit, what you see: the full figure, only whether you're near or over the limit, or nothing for limits it monitors internally.
  • Your own patterns. DJ learns how you trade and where your plans tend to go wrong, so the second look is about you, not generic advice.
  • Nothing in the way. DojiPad never blocks an order. The decision stays yours.

Product · Breach prediction

Which traders are likely to breach a limit on their next plan

Breach prediction answers one question: will this trader's next committed plan breach a limit? It answers no other. Each prediction is checked against the trader's next committed plan, and predictions stay hidden until there is enough history to judge them. The prediction is built from committed plans and their limit breaches. It starts from your firm's overall breach rate. It then moves with the trader's own record, and gives recent plans more weight. You can open every figure to see the plans behind it.

I.

How each prediction is checked

A prediction is made each time a plan is committed. It is settled when the trader's next committed plan is checked against your limits. For each trader, the screen shows the predicted rate next to the actual rate over the checked plans. So you can see whether the number claims more than the record supports.

Emre Sato (Simulated) · 44 prior plans, 25 exceeded
proximity 1.2× forecast 0.49 · realised 0.59 · 41 settled 45%
next plan exceeded
Redrawn from the live product for this site. Figures are live values from Aurora Capital Management (Simulated).
II.

What the prediction screen holds back

  • No figure for a trader with fewer than three prior plans.
  • No tiers until at least five traders have been scored.
  • The firm's overall rate and the tier cut-off lines are shown at the top of the screen.
  • Accuracy is shown as the predicted rate against the actual rate.
  • The accuracy score is kept in the detail view, next to the figures it is compared with, never on its own.
III.

On the roadmap: checking against actual trades

ROADMAP

“Calibrates on the execution feed. Not connected.”

Checking predictions against actual trades (fills) comes with the execution feed. Until that ships, the screen checks predictions against the trader's next plan only. It says so on screen.

IV.

What the trader sees of their prediction

Each trader sees their own prediction and its trend, in their own view. They see nothing about any other trader.

IV.

You see less than the officer

If you are shown only the direction of a breach, you see less than the officer does. The exact figure is kept in the list of limit breaches, which compliance works from.

II.

A boundary the firm cannot switch off

Coaching only works if you can speak openly. That needs a boundary that no setting can remove. Your conversation with DJ is never summarized, scored or forwarded. This is how the system is built, not a policy. The firm's screens and reports can't retrieve the trader's side. Each deployment produces a report that shows this, explained on the technology page. Your conversation is stored in your firm's own database, so, as with any system your firm hosts, its database administrators could read it there.

III.

What reaches the firm

  • Committed plans and their written reasoning.
  • Checks of each plan against your firm's limits, and any limit breaches.
  • Your breach history.
  • A breach prediction for your next plan.
  • Briefs you send.

Is my conversation with DJ private? It is kept off the firm's screens, because of how the system is built. The firm's record is your committed plan. Committed plans cross to the firm's side, with any limit breaches; what else the firm sees is listed above. Who else could read your conversation is answered in Questions traders ask.

Questions traders ask

Is this surveillance?

It doesn't watch your screen, read your email or messaging apps, or see your orders. It works only on the plans you state to DJ. When you commit a plan, the firm sees it with any limit breaches. Over time, it also sees your breach history and a breach prediction for your next plan.

Who can see my conversations with DJ?

No screen or report in DojiPad shows the firm your conversation, your personal rules or what DJ learns about you, and the firm's side of the system can't retrieve them. That separation is tested at go-live. They are stored in your firm's own database, so, as with any system your firm hosts, its database administrators could read them there. The firm sees your committed plans and their written reasoning, any limit breaches and your breach history, and a breach prediction for your next plan. ARQNXS, the company behind DojiPad, has no access to your firm's environment.

What do I get from it?

A second look while the decision can still change. It covers size, timing and reasoning, based on your own patterns rather than generic advice, with the limits your firm shows you in plain sight before you commit. Unmanaged bias costs discretionary managers an estimated 94 bps a year.¹ That cost is made one decision at a time, and that is where DojiPad sits.

Does it slow me down?

It adds a conversation before the trade, not a step in the order. Nothing sits between you and execution.

Does it work for systematic desks?

Yes, wherever a person states, sizes or overrides a decision: discretionary, rules based or algorithmic.

¹ Essentia Analytics client research, 2020. Full sourcing in Exhibit A.

What desk heads see

  • The desk overview: open breaches and the worst breach per trader, by desk.
  • Breach predictions.

Your traders' conversations stay on their side, by design. You get the decisions and the breaches, which is what supervision needs.