BOSS’s rules engine is grounded in conditions that can be defined all the way to the account level to make it easy for the end user to leverage—as it provides the flexibility your business requires. This account and condition based architecture is an innovation that makes management of your payout rules easy and efficient.
The 5 Critical Functions of BOSS’s Rules Engine:
- Ease of defining rules
- Ease of categorization
- Out of the box formulas
- Ability to customize with tiered payout structures
- Multi step formulas
You can read about the 5 critical functions in the tabs below:
The first function of the rules engine is making it easy to define different payout structures. To get started, you go to the payout rules definition where you can add new payout rules. The first step is naming the rule and selecting the type (which could be an account payout, broker payout, clearance charge, CMTA payout, execution charges or soft$ payouts). Next comes defining the rule; at the core of our engine, you can add different conditions from RPS to adding the asset type to quantity conditions and finally, amount. Once the rule is saved, you can add additional payout criteria as shown below (i.e. transaction so you are not paying for away trades).
Our rules engine allows you to categorize and manage all of your existing payouts from one screen, which is important for efficiency. You can categorize all of your payouts from broker payouts through CMTA and soft$ payouts with the added ability to create exceptions for specific accounts where you have slightly modified relationships. This one screen makes it easy to access and sort rules within different categories.
Then, within categories, we make it easy to get started in producing results because you have multiple out of the box rules that are then easy to customize. As you can see below, we have quantity multipliers, percentage of gross, net and quantity, which all fall into different categories including contract exception rules, which are critical for revenue results.
One of the more dynamic features of our engine is the ability to quickly build and customize tiered payout structures, which you can do by RPS, by specific branch, by specific currency, quantity and gross vs. net. Then, you can move on to one of our more flexible customization features, which is the ability to move to multi step payouts to manage what are arguably the most complex rules.
The multi step payout rules provide you with the most flexibility at the account or broker level. As you can see below, the multi step payout rule is checked, so you have the ability to find multiple components. In this specific case, if the condition is met that it is a US dollar equity trade, then you can pay .1 per quantity traded with a minimum of $8. However, if it is not a regular trade, you can easily set the condition that pays $15. Then, the amounts can be added or subtracted as necessary. This level of flexibility is critical to capturing both bottom line cost savings and ensuring you protect your top line revenue.