PDT for LPMA Accounts
New Feature - PDT Violations for LPMA Accounts
Beginning April 14, 2022, DriveWealth will implement new functionality that will allow for counting of Pattern Day Trades in the UAT environment for LPMA accounts. This new feature will provide a counter of PDT violations that can be used to restrict accounts from further violations.
The change will include updates to DriveHub as well as API updates to the Account Summary and Violation Details endpoints.
This feature is currently available for testing in UAT.
DriveHub Updates
A Pattern Day Trades section will be accessible for LPMA Accounts. This section will display data for pattern day trades:
API Updates
The Account Summary endpoint will display additional data in the margin and violation attributes.
See example below:
"margin": {
"marginRequirement": null,
"longMarketValue": null,
"debitBalance": null,
"equity": null,
"equityFraction": null,
"equityRequired": null,
"accruedInterest": null,
"patternDayTrader": true,
"restricted": false,
"daySMA": null,
"rtExcessEquity": null,
"effectiveSMA": null,
"noBuyingPowerReason": null,
"marginCall": null,
"restingOrders": null,
"bodDTBP": 19967.12
},
"violations": {
"goodFaithViolations": null,
"patternDayTrades": {
"count": 1
}
Full PDT details will be shown in the Violation Details endpoint. For the PDT counts, use the Account Summary endpoint. Note that for LPMA accounts, the additional fields are not applicable with the exception of patternDayTrader and restricted which will be updated if a user is flagged as a pattern day trader.
Next Steps
Please test this functionality in your sandbox environment and make any necessary updates to accommodate the changes in the API. If changes are required to avoid disruption, please have these updates completed and tested as soon as possible. At a future date to be determined, the API will be updated for all partners in production. If you have any questions, please contact your PSG Account Manager.