We are glad to announce that we are implementing a new Trader Training framework which requires that all traders redo an updated form of the Trader Go Live training module on an annual basis.
As in its previous version, the module is intended to verify that traders have a solid understanding of their responsibilities under their agreements with the Select Group, as well as all applicable market rules and regulations for the market(s) which they intend to trade.
All traders who completed the Trader Go Live training module over 11 months ago will receive an email notification message this coming weekend (June 8–9, 2019), advising them they have to log in to Metro and complete the training module successfully within 30 calendar days of receiving the notification. Financial representatives for each office will also receive a notification listing all traders who are captured by this initial batch.
Failure to complete the module successfully by the end of the 30-day period will result in the trader being restricted on all markets, pending successful completion of the module.
Going forward and until further notice, traders will be notified 11 months after they last completed the training module that they have 30 calendar days to retake it. This will occur annually based on automated timers in Metro.
The format of the training module remains the same, in that there will be training material to review, followed by a multiple-choice quiz. The quiz will be 10 questions requiring 80% to pass. Failure on Quiz 1 will lead to a second 5-question quiz requiring a passing grade of 100%. Failure on Quiz 2 will lead to a third 3-question quiz requiring 100% to pass.
Traders should take the time to review the study material to ensure they are confident in their understanding before proceeding to take the quiz. Once started, the quiz must be completed in the same session, with a time limit of 60 minutes total. Details on the pass-thresholds and quiz structure can be found in the manuals posted on the Knowledge Base and TIP.
If a trader fails, they must submit an explanation as to why they believe they should get a second chance to complete the module. That explanation will then be reviewed by the Risk Team. If the explanation is accepted, the trader will be given another opportunity to complete the quiz within 30 days. If the explanation is rejected, the trader will be moved back to TMS.
Traders will only be able to access the module in the language (English or Chinese) in which they completed the module when they first moved from TMS to Live.
If a trader attempts the quiz but experiences a technical issue that results in an incomplete, their manager must submit a mojo, and the Risk Team will review and reopen the module for the trader as appropriate.
All managers will have access to a new view in Metro which will allow them to see a history of their traders’ attempts in the module. This will allow you to make sure traders are completing the quiz by the assigned deadline.
Please also note that an SMS verification code will be required to write the quiz annually.
The new training framework will be put in place after US markets close on Friday, June 7, 2019. Traders will be able to access the module as soon as they have received the email notification indicating their 30-day period has started.
We recommend that you urge your traders to complete the module as soon as possible to avoid any risk of missing the 30-day deadline.
Traders will find the module in Metro: General Processes: Training Modules – Traders: Trader Go Live Training.
If you have any questions or comments, you can create a mojo.