Pancake03 Project knowledge
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Pancake
  • 00Overview
  • 01Brand book
  • 02Modules
  • 03Project knowledge
  • 04Phases
  • 05Next steps
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Knowledge

30
facts
5
roles
14
entities
7
rules
4
flows

last changed 1 Oct

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Your edits: No edits yet. This standalone view cannot save edits. Every Request a change and Add a rule opens an email to your success manager instead.

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The business

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One core receives real-time rates from liquidity providers through a provider layer (IBI over FIX 4.3 is the first, others plug in), calculates spreads, hedges every trade and manages customers and collateral. On top of it, three channels: rates for Kashcash, Shilan's own trading site, and branded sites for partner exchange houses.

9
Channels
IBI · FIX 4.3
First provider
White label
Partners

From the draft spec, October 2026 · to be confirmed by Shilan

People and roles

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Shilan dealers

work the hedging queue: one task per trade, with the rate and amount to take with the provider

UsesShilan back office

Back-office operators and approvers

verify new clients by call or meeting, approve or reject with a reason, suspend, change limits, set spreads, match incoming transfers

UsesShilan back office

Retail and business clients

register, upload ID, sign the guarantee, deposit collateral and trade inside their limit

UsesShilan Trade app (web, mobile and desktop)

Partner exchange-house admins

brand their own site, set their spread on top of Shilan's, open staff users, verify and approve their own clients

UsesPartner white-label programme

Kashcash (API consumer)

reads rates through its own key, with its own spread and a rate limit; rates only, no trading

UsesRates API for Kashcash

Entities and how they connect

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Clients and KYC

  • KYC filebelongs toClient
  • ClienthasAccount
  • AccountholdsCollateral
  • CollateralsetsCredit limit

Trading

  • Currency pairis priced asQuote
  • QuotebecomesTrade
  • Tradeis checked againstCredit limit

Pricing

  • Spread ruleis set perCurrency pair
  • Spread ruleand perChannel
  • Spread ruleadds toQuote

Providers and hedging

  • TradeopensHedge task
  • Hedge taskgoes toProvider
  • Providersupplies rates forCurrency pair

Partners

  • PartnerrunsPartner site
  • Partner sitebringsClient
  • PartnersetsSpread rule

Also kept: rate history from the provider, API consumers (Kashcash and later ones), and an audit log of every user, admin and system action.

Rules the system will enforce

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Trading

  1. R1

    A quote locks the rate for 10 seconds after the click; the client confirms inside that time and the trade is recorded with a unique ID and timestamp.

    Open decisionhow long the lock lasts

  2. R2

    A trade above the client's free limit is refused. The limit is 10% collateral of all trades: a $40,000 deposit opens $400,000.

    Open decisionthe margin threshold for alerts and closing positions

  3. R3

    A pair whose rate the provider marks as not tradable is suspended on every channel until a valid rate returns. Outside Sunday 17:00 to Friday 17:00 New York time the market is closed and trades are blocked.

Pricing

  1. R4

    Spreads are set per pair and channel (and per partner, client group or single client), added to the provider's base rate. A partner's spread sits on top of Shilan's.

Hedging

  1. R5

    Every trade opens a hedge against the provider: automatically with the automatic-execution add-on, otherwise as a task for a dealer.

    Open decisionthe provider's trading API (until then, dealer tasks)

Clients and partners

  1. R6

    A client can trade only after phone verification by SMS, ID upload, a signed guarantee, a collateral deposit and verification by Shilan.

  2. R7

    A partner's clients are verified by the partner before their first trade; Shilan can suspend a partner or a client in one click.

    Open decisionlicence and responsibility split with partners

Add a rule

This view is read-only. A rule you add or change goes to your success manager as a request by email; accepted rules are built and tested.

Flows

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Onboard a client

  1. 1Open account + SMS code
  2. 2Upload ID
  3. 3Sign guarantee
  4. 4Deposit collateral
  5. 5Shilan verifies
  6. 6Account active, limit opens

Make a trade

  1. 1Pick pair, side, amount
  2. 2Rate locked
  3. 3Limit checked
  4. 4Client confirms
  5. 5Trade recorded
  6. 6Bank transfer matched

Hedge a trade

  1. 1Trade confirmed
  2. 2Hedge opens
  3. 3Automatic or dealer task
  4. 4Taken with the provider
  5. 5Collateral and P&L update

Launch a partner

  1. 1Add partner in back office
  2. 2Branding and domain
  3. 3Spread and currencies
  4. 4Staff users
  5. 5Site goes live

Screens

Your dashboard, with every module

The back-office dashboard on desktop and phone, in your theme, with sample numbers.

Open full screen
Back office
Market openuntil Fri 17:00 New York
עבריתNS
Operations
Dashboard
Client approvals7
Trades & hedging3
Partners3
Configuration
Spreads
Reports
Providers
NS
Noa ShilanAdmin · all channels
Dashboard
Live
Tuesday, 27 October · all channels

Turnover today

$4.82M$4.82M$4.82M

Up from yesterday: +12%

vs $4.30M

Trades today

186186186

Up from yesterday: +21

vs 165

Open exposure

$62K$62K$62K

Down since 13:00: −$8K

3 awaiting hedge

Collateral in system

$1.36M$1.36M$1.36M

Up today: +$40K

143 active clients

Turnover by hour
Today · 09:00–16:00

By channel · USD thousands

Focus here and use the arrow keys to read each bar

By channel · USD thousands, 8 categories. Shilan site: highest 14:00 610 K$, lowest 09:00 210 K$, total 3,030 K$; Partners: highest 14:00 480 K$, lowest 09:00 140 K$, total 2,300 K$; Kashcash: highest 14:00 240 K$, lowest 09:00 60 K$, total 1,070 K$.

System status
Live
IBI · FIX 4.3
Rate feed since Sun 17:00:05
Connected
Tradable pairsGBP/ILS not tradable since 14:02
111111of 12
Kashcash API
41 requests a minute
Healthy
Needs attention
See all 9
דא
Daniel A.Documents and guarantee ready · call to schedule
Ready13:02
TR
TR-4821 · USD/ILS 50,000Awaiting hedge for 2 minutes
Hedge14:31
מש
Maya S.ID supplement missing
Document12:40
9:41
Dashboard
Dashboard
Live
Tuesday, 27 October · all channels

Turnover today

$4.82M$4.82M$4.82M

Up from yesterday: +12%

vs $4.30M

Trades today

186186186

Up from yesterday: +21

vs 165

Open exposure

$62K$62K$62K

Down since 13:00: −$8K

3 awaiting hedge

Collateral in system

$1.36M$1.36M$1.36M

Up today: +$40K

143 active clients

Turnover by hour
Today · 09:00–16:00

By channel · USD thousands

Focus here and use the arrow keys to read each bar

By channel · USD thousands, 8 categories. Shilan site: highest 14:00 610 K$, lowest 09:00 210 K$, total 3,030 K$; Partners: highest 14:00 480 K$, lowest 09:00 140 K$, total 2,300 K$; Kashcash: highest 14:00 240 K$, lowest 09:00 60 K$, total 1,070 K$.

Needs attention
See all 9
דא
Daniel A.Documents and guarantee ready · call to schedule
Ready13:02
TR
TR-4821 · USD/ILS 50,000Awaiting hedge for 2 minutes
Hedge14:31
מש
Maya S.ID supplement missing
Document12:40
Dashboard
7Approvals
3Trades
3Partners
Spreads