When you click "Process Approved" from the Trading Dashboard, Trading generates an executable file for you to upload into NetX360. Before executing your first set of trades, re-familiarize yourself with block trading by reading our article What is Block Trading?.
Uploading the Equity File to NetX360
After you click "Process Approved Trades," Riskalyze Trading will automatically create a ZIP file containing two trade files: "Pershing Equities" and "Pershing Mutual Funds". The Pershing Equities files contain all buy and sell orders for stocks and ETFs, and the Pershing Mutual Fund file contains buy and sell orders for Mutual funds.
Once the ZIP file has downloaded to your desktop, click and open that file. Then follow these instructions to upload and send the trades generated by Riskalyze Trading:
1. Login to NetX360 and click Menu > Trading > Service&Operations > Other > Choose Equity or MF upload.
2. Click “Import Trades” found towards the top of the screen to upload your ETF/stock or mutual fund orders to their respective upload destination.
3. Review the imported orders.
4. When you’re ready to execute the trades, click “Submit Orders” at the bottom of the screen.
NetX360 will show any warnings related to these orders after you click Submit. You can either ignore these warnings and choose to process your trades, or contact Pershing for further clarity on any impacts these warnings may have on your client accounts.
Settlement & Sync with Riskalyze
Now that your trades have been submitted, simply wait for them to settle. Pershing may display the new positions in NetX360 as soon as the following day. However, it typically takes T+2 for NetX360 to send the new positions to Riskalyze. You do not have to take any action to see updated positions in your Riskalyze account. Riskalyze automatically updates account positions as soon as they are received from NetX360.