Financing is the other half of the intermediary P&L, and it is a spread business exactly like margin: the rate you charge a client against the cost of funds you carry. Safetifi prices both, accrues them intraday, and attributes the result by client, product and venue.
Set client financing rates as a markup over your own cost, by tier and by client, and see the resulting spread before you publish. Rate publication carries an auditable change history, so a rate that was in force on a given day can be evidenced later rather than reconstructed.
Funding on perpetuals accrues against the venue’s own schedule, not a daily approximation. Safetifi fetches the accrual since the start of the GMT day server-side and attributes it live, so the funding leg of a position is visible during the day rather than assembled at the end of it.
A financing book that only nets to a single number cannot be managed. Safetifi attributes the financing result down to the client, the product and the venue, so a loss-making financing relationship is identifiable rather than averaged away against a profitable one.
Tracking the periodic funding payments on perpetual and financed positions — what a venue charges the firm and what the firm charges its clients — and managing the spread between them, including how it accrues intraday and how it attributes to each client and product.
Margin is the collateral held against a position; financing is the ongoing cost of carrying it. Both are two-sided for an intermediary, and both can invert independently — a positive margin spread and a negative financing spread on the same client is common and easy to miss.
A pilot connects one channel against a slice of your live book and reports what it finds — client by client, product by product.