Trading Dashboard - P&L Trading Tab

Goal of this tab is to explain the source of PnL in real-time or in the last 1, 6, 12, or 24 hours.

Time to action is crucial. The quicker you can understand the source of a PnL loss the quicker you can remediate against it reoccurring. Sometimes seconds can make the difference.

Overview

The trading dashboard in Compass allows us to quickly view PnL and VaR swings, determine which instruments and positions cause them, and address drops with a superior Time-to-Action. There are drop down tabs for each book, with accompanying PnL, VaR, and volume graphs.

Further down the page, there are various analytics graphs for the selected book. We can select different options (P&L, Pricing, LPs, etc.) to view a range of related analytics graphs. We can then filter by market and/or instrument on the right hand side to isolate specific causes for PnL drop. Scrolling over each asset in the a graph’s accompanying table will highlight that particular asset's plot.

Selecting P&L displays several graphs, including positions held in base, and the contribution of each asset, e.g. a PnL drop in the book graph can be explained by filtering the P&L analytics graphs by instrument. For example, under the P&L analytics graphs, we can view the instrument mid-prices graph to determine which assets held are causing PnL drop.

We can use the drop-down at the top of the page to change timeframe (1, 6, 12, 24 hours).

See Trading Dashboard - P&L Drop Investigation Example to learn more about how to use the P&L dashboard to identify and address toxic flow entering your book.

Analytics Graphs

We can select from these options shown below to display a different set of graphs for the book we have selected. Each option has a range of graphs that can help us quickly identify and fix issues in various aspects of our day-to-day operations.

We can apply instrument and market filters to the right of the analytics options to only display the data we want. Below, we have filtered by EURUSD, AUDUSD, and GBPUSD. As shown, hovering over the any graph at any time also highlights that time on the other graphs on the page. Note also that hovering over a graph title will give a brief overview of the data it displays.

We can see from the 'Reval P&L attribution' graph that the fall in EUR, AUD, and GBP P&L corresponds to the fall in total P&L further up the screen. The 'Reval P&L attribution delta' graph shows us the change in P&L for each asset, and we can see a large swing around the price drop, confirming the assets are at least partially responsible for the P&L drop. We can also move the cursor across the graph to see the change in the values over time.

Scrolling down shows a further variety of P&L analytics graphs. We can also view graphs for different selections of analytics (P&L, Pricing, LPs, etc.). Shown below are some of the Pricing graphs. The latest plot values are shown in tables to the right, and can be ordered by clicking the column titles.

From the analytics graphs, we can, at a glance, determine what the primary causes of PnL swings are, and make changes with a much superior Time-to-Action. For example, we can determine from the 'Equivalent position in base' and 'Mid price delta' graphs that a price swing in a specific instrument, that we held a large position in, has caused a PnL swing in one of our books. We can then go to Compass to tune our hedgers, distribution and liquidity reduction, execution profiles, etc. to try and avoid similar drops in the future.

Up next Pricing Tab | P&L Drop Investigation Example

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