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User Guide - Essence Capital Group

1. 210 TIP Default E T oA E E EEE asuspe a ddotsoueiduacktae aaa se A aaa buo d 210 IDESCriptiOnie us uyu Saeed de db sc costed dies eon aspipi EE EE E dt S ha pha 210 vi X_TRADER User Manual Trading Technologies International Inc Table of Contents Keyboard Trading Procedure ul sas ad ante dduiad hae uuu e DEEE EOE E Lae abe Di 211 CROSS TRADES O VERVIEW CROSS ORDER EXECUTION AND CBOT 12 2 2 2 0 2 2 c eee eee eee eee eee eee cece eee eeeeeeeeeeeee CLICK TRADING O VERVIEW Market Grid Changes n u ll e cece cece E E E E E a Request For Quote RFQ Window Sequence of Events i cooker eo ee oe A tei tnt eels a eS a Le declare E OA STRATEGIES O VERVIEW 212 213 214 215 215 216 216 218 219 219 220 221 222 222 223 223 224 224 225 226 227 227 228 228 229 229 231 233 234 234 235 235 236 236 237 237 237 238 239 240 240 241 242 242 242 243 243 244 244 245 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information Table of Contents MD TRADER FIELD DESCRIPTIONS ss LLL MD TRADER FEATURES SETTING THE TRADE QUANTITY eee SETTING TIME IN FORCE Invalid Calculations in the UDP al 0 DISPLAYING A SMALL MD TRADER oe Titlebar BUtOnS 2 ce So ean Date dn pees a eich mci min ch qampa 252
2. 24 ABOUT THIS M ANUAL _ I 25 INTRODUCTION TOX TRADER 4 Sco lye Ql d Naaman nl So ee saci be dle Sows stubs td bok Seah Dau ee 25 CONVENTIONS EE E Yau ka ayau ls yaya a u a Ath s S Slit dle teat fede nata ont unkuna a 2 18 aaah EAR 25 KEYBOARD FORMATS se 26 RELATED DOCUMENTATION ss s s s i itit LLL 26 X TRADER TRADINGSYSTEM 2 0 27 GLOBAL CUSTOMER SUPPORT CENTER U J 28 AUTOMATED PHONE MENU Z l bens uu US U a ce at as s au U a uy geal eee tye 28 GETTINGSTARTED LL 29 LOGINPROCEDURES U I LLL 30 UNIVERSAL LOGINPROCEDURES ss u li UU a uu ua a e yau usa 34 RECOGNIZING ACTIVEEXCHANGES ss LLL 37 MARKET EXPLORER reret aan E asa AVETE LLII tees L KASS a OESE ENE 6 DEAA MEMEO a Cu e u Ca WIN s aY 37 GUARDIAN 3 E A beeen arn dAciued enath med Uawan nina he ADI AAA MAAA T 37 XTRA DER PRO LICENSE census a byt th ed S Dee Ul ed a U Sr Ca a ty liye So NAN Se Z A EAN Se 38 CREATING ACUSTOMER PROFILE ss s s i i i i i lt it LLL 39 USING WORKSPACES yo Cole Sordi tte E k AL A SA y aN OE a DY ata y el ol La teh Sa WAM ep He Del 40 ENTERING AMARKETORDER ssi w sisi i i iti ist LLL 40 NEW ELECTRONIC TRADERS Tee n AA hh UR ICON Y to a aa ADN Pee aad toss
3. NSS s s s s s s s B B B B E EEESEEEEE Follow these procedures to use the Order Book e Performing Order Status Inquiries on page 332 e Change an Order on page 334 e Canceline Replacing an Order on page 335 e Deleting an Order on page 340 e Removing Stale Orders on page 332 e Using the Floating Order Book on page 343 gt To open the Order Book window From the Control Panel click the Window menu and choose Order Book Or From the Control Panel click the icon You successfully opened the Order Book window X_TRADER User Manual 327 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Filters You can use filters in the Order Book to quickly sort and display data For example if you are part of a group and you want to view only your open orders you can filter using your Trader ID hip To filter using your Trader ID first record an open order far off the market Filter using your Trader ID Then delete the order Refer to Filtering Overview on page 50 for more information Trader Identification The Trader ID is a combination of the Member ID a Group ID and a Trader ID Example MemberIDGroupIDTraderID e The exchange supplies the Member ID to their trading member e The administrators of your trading environment assign the Group ID All traders sharing the same Group ID share the Order Book Fill and Audit Trail windows e The admini
4. ss 57 MOVING ROWS ORCOLUMNS U l LLL 58 HIDING ROWS OR COLUMNS lU Ur LLL 58 RESTORING HIDDEN ROWS OR COLUMNS ss isisiss 59 CHANGING THE HEIGHTS OF ROWS OR THE WIDTHS OF COLUMNS y COLL 60 FRAME COMMAND BAR OVERVIEW sss 61 RESIZING AWINDOWGRID oo 61 IRIN GGING ssc UP RMN SP A A A eet se SAN sae ce UP ET NA US D i etian Aga amp 62 CONTROL PANELOVERVIEW s s s s s ssss s snr IsiDCla a 63 OPENING AFUNCTIONAL WINDOW sss 64 WINDOW MENU Z 1 tees il ices uamata Nabe whe ab og Ves Zo utu nine tye dha Sah das ences ty Ope AE Sie icha ene ta 64 THE LOODBAR 2 2 Me AS S ves MS cee sein ec aon ines Ka ban 66 CHANGING THE SIZE OF THETOOLBAR sss 67 WORKSPACE SBTUP onc aaa 68 MULTIPLE WORKSPACES COLL 68 CREATING A WORKSPACE oes LL 69 SAVING AW ORESPRGE ioc ft tes crn a aan ie a a U I emit tan phe 70 OPENING Av WORKSPACE Z LA of cha D Iy bs Gethin ee A of ter wp anana a ap dati Gels ee LE 71 MANAGING A STARTUP WORKSPACE ooo 72 FIXING A WORKSPACE U a a 73 DELETING A W ORKSPACE U U U U U p U I S U U TL au 73 PRODUCT GROUP INFORMATION SETUP eee 74 PRODUCT GROUP INFORMATION FIELD COLUMN DESCRIPTIONS UU 75 ADDING A PRODUCT GROUP gt Soo ec AP Ch Sl u lun ea GABI at Ut ae debe lessee Lu 77 CHANGING A PRODUCT GROUP SETTINGS ooo 79 DERE FING A PRODUCE
5. 108 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Orders Tab The Orders tab sets properties for the Order Book window Order Book C Display routing status Z Display confirmation on Delete All 7 Color code buy sel C Use new ceder coke settings Order Book Buttons C Change C Cancel Replace Z Delete AUl Bide Asks Go To Market Ongnal Oty Work Oty Orginal Oty O Work Oty Order Book Columns Order Book Display routing Displays routing in the TT Status column in the Order Book when you send status an order to market This identifies the order as sent Note This does not apply to orders generated by automated tools Autotrader Autospreader Display Displays a warning notification in the Order Book when you click Delete confirmation on All Delete All Color Code Description buy sell Color code Lets you quickly differentiate among orders Default colors are buy sell e Text color for Buy orders is blue e Text color for Sell orders is red e Confirmed fill text background is gray Enabled by default You can customize your order colors on the Color tab Note When you enable color coding color formatting of the individual grids is disabled Only the colors you select via the Color tab apply Use new order Sets a visible indicator when a new order appears in the Order window color settings Update time for new orders seconds Sets ho
6. X_TRADER User Manual 51 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Setting Auto Filters The Auto Filters option sets filters for a particular customer s trader account number If there are numerous working orders for an account shared by a number of traders it can be difficult to sort and review the orders for a particular trader Filtering by customer name as it appears in the Customer List window displays all orders for that particular customer Follow these procedures to manage Auto Filters e Setting the Auto Filter e Removing the Auto Filter gt To set the Auto Filter by customer Find Control Panel b Add Manual Fil 1 Right click in the window grid to access the context menu Delete Manual Fis Note If Click Trading is enabled do not click in the Bid Ask price columns Confirm FAs 2 Click Auto Filters a v Scroling A check mark indicates that the filter is applied for this customer s account number Clear Alter Clear All Filters 3 From the Control Panel click the Window menu and choose Customer List Copy 4 Selecta customer from the ltst paste Export Al Rows Export Selected Rows This provides the filter definition The top heading on the list lt Default gt is the equivalent to no filter The titlebar contains a Filters On message Formatting Hide Select Columns You successfully set the Auto Filter by custom
7. 2 Click the Color tab 3 4 Click a color from the palette Click the name of the color setting you want to change The Preview section displays your chosen color Click Apply and then OK to exit You successfully changed the colors for X_TRADER display windows X_TRADER User Manual 119 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 gt To create and use a custom color for a window or text 1 2 3 4 10 11 From the Control Panel click the Settings menu and choose Properties Click the Color tab Click the name of the color setting you want to change From the Color section click the Other button The Color dialog box appears Under the Custom Colors section click the first available white box Note This ensures you will not copy a new custom color over an existing custom color Under the Basic Colors section click a base color to create your custom color from Note This ensures you can see your custom color as you create it On the right side select your custom color from the blended rainbow grid The cross hairs pin point your selection and the color appears in the Color Solid square Click and drag the triangle up or down the skinny luminosity grid to select the hue of your color The Color Solid square changes as you drag the triangle Click the Add to Custom Colors button Your selection in the Color Solid square appears in th
8. Example Placing a Limit order at any price level which results in an immediate fill like buying above the inside offer or selling below the inside bid is invalid X_TRADER User Manual 301 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 Placing OCO Orders Follow these procedures to place OCO Orders e Creating OCO orders in MD Trader e Creating OCO orders in the Order Book gt To create OCO orders in the Order Book 1 2 3 Click to select the first order Hold the ctri key and click to select the second order Right click and click Link As OCO The orders are given an OCO Link Type and a Link ID The orders are also color coded to indicate their OCO relationship You successfully created OCO orders in the Order Book gt To create OCO orders in MD Trader 1 2 3 10 11 12 oo OY E In the Properties menu click the MD Trading tab In the Enable Order Types section click to select OCO In the adjacent field select the strategy for your order types when placing OCO orders Bracket Breakout or Custom In the Default Type for Order fields change the default selections as needed In the Assign Buttons section click to select OCO Click Apply Click OK In MD Trader click the OCO button The button and cursor turn orange and the text LIM appears below the cursor indicating a Limit order If you want to assign a different ord
9. T oO oy A You successfully traded Eurodollar Options 238 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Strategies Overview Strategies are synthetic spread instruments where the legs are options futures or spreads Strategies are created on the exchange and are exchange traded instruments The price differential between the legs is guaranteed Notes e When enabled the Hide New Contracts property blocks new strategies from auto matically appearing in the Market Grid when they are released Enable via the Trading tab on the Properties menu When creating volatility strategies do not assume a sign on the delta You must include the sign when creating this strategy The sign of the delta indicates whether you are buying or selling the underlying Buying Selling Delta in this context acts as a hedge ratio and declares the number of futures that must be bought or sold to offset the risk of the options position D Create Strategy Contract AA SOKO AA O80 AA INE AA ARTS Sratege hame Shawpl Eonting Shateges Strategy Name Lean 1 AA NOS 1 AA DECIE 1AA Jug 1 A 4AR03 Follow these procedures to manage Spread Strategies Creating a New Strategy Setting Outright or Spread Prices Trading with a Strategy Adding a Strategy to the Market Window Renaming an Existing Strategy Recreating a Strategy Amending Strategies Deleting a Created
10. X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Using the Laser Line When you paste a link from Excel into MD Trader the indicator columns shade the color of the cell in Excel This shade indicates the approximate value of the link in relation to the MD Trader Price column This functionality still exists however it has been enhanced Now when you have the indicator columns hidden and you paste a link from Excel a laser line appears over the number in the Price column to indicate a realistic approximation of the value of the link created in Excel Example In Excel we have two formulas saved The values of which have the following attributes e A green shaded cell has a value of 112007 e An orange shaded cell has a value of 112003 With the indicator columns shown you paste the respective links in MD Trader and get a green and orange shaded cell indicating values in Excel rounding down closest to 112000 in the MD Trader Price column 112010 71 l x x 140 112000 OT You hide the indicator columns paste the respective links in 412010 71 MD Trader and the laser lines give direct Indications of where the values in Excel are in relation to the MD Trader 401112000 Price column gt To use the laser line indicator 1 Do ee eS Create your formula or value in Excel In Excel click the Format menu and choose Cells Click the Pattern tab
11. X_TRADER User Manual 389 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Against Actuals Trade Window The fields in an Against Actuals Trade window vary depending on the type of product or strategy you trade If the product is a strategy the associated legs for that strategy are listed in a set of fields in the lower half of the Against Actuals Trade window The Quantity and Price fields must be filled for each leg of the strategy in order for the trade to be accepted General Descriptions Fields Transaction Code Name and identification of the contract series This fills with the product infor mation in the Market window Maturity month of the contract This fills with the product information in the Mar ket window Auto Market Reference unique exchange specific product identifier This fills with the product information in the Market window Price of the product Quantity of the product to be traded A code uniquely identifying the trade Buyer Descriptions Seller Fields Open Close Reference Posting Code Account An exchange mnemonic uniquely identifying the trader Account code for this trade Can be one of the following H House L Local S Segregated or N Non segregated Indicates whether this trade opens or closes a position International Security Identification Number Uniquely identifies a given product Price for the underlying that
12. Click the color you want to shade the cell and click OK Right click the shaded cell and click Copy In MD Trader if the indicator columns are shown go to the next step or In MD Trader if the indicator columns are not shown go Step 11 7 Right click MD Trader and click Properties 8 Click the MD Display tab 9 Click to de select Bid indicator column and Ask indicator column 10 11 Click OK Right click MD Trader and click Paste Link You successfully used the laser line indicator X_TRADER User Manual 277 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Moving Grid Columns You can drag and drop the columns in MD Trader to a different locations in the grid gt To drag and drop columns to a different location in MD Trader 1 Click the top of the column you want to move A box outline appears beneath the mouse pointer 2 Click a second time and hold the mouse button on the column you want to move 3 Move the column left or right to the desired position A red line indicates where the column is moving 4 Release the mouse button The column moves to its new location You successfully moved columns to a different location in MD Trader Resizing the MD Trader Window If you make MD Trader a smaller size using the mouse it does not display a horizontal scroll bar and your view of the depth is cut off on the right side Follow these procedures to resiz
13. Enables Market Limit Market MLM sets a buy order placed above the best offer to fill by the best offer and a sell order placed below the best bid to fill by the best bid Enables Market On Close MOC sets a market order that only executes at the close Enables Market On Open MOO sets a market order which is only valid during the pre opening period on all exchanges and are intended for execution at the opening market price This order type is not available in MD Trader Enables Market to Limit MTL send a Market order with the condition that on a partial fill the remaining quantity rests as a Limit order at the price that was just hit or taken Available on TOCOM and SGX Enables Minimum Volume MV sets the minimum order quantity that must be available in the market If the quantity is not met the entire order cancels Enables Stop Stop sets the stop price for limit or market orders X_TRADER supports Stop orders on all exchanges e A Stop limit order to Buy becomes a market order when the futures contract trades or is bid at or above the stop price e A Stop limit order to Sell becomes a market order when the futures contract trades or is offered at or below the stop price Trailing Stop Enables Trailing Stop Trailing Stop sets the price for a stop order a fixed distance from the current market price and moves dynamically Trailing Stops can be limit or market orders Volatility Enables Volatility Volatility is an order separ
14. From the Control Panel click the button 2 If this is a new workspace you are prompted to enter a workspace name If you have a workspace open changes are automatically saved under the same name 3 Ifthe Save Workspace dialog box appears type a new name for the workspace or select a work space name to overwrite from the list Note Your workspace name must adhere to your Operating System s naming conventions 4 Click OK If you choose to overwrite a workspace name from the list you are prompted to confirm You successfully saved a workspace gt To save your current workspace under a new name 1 From the Control Panel click the File menu and choose Save As 2 In the Save Workspace dialog box type a new workspace name and click OK Note Your workspace name must adhere to your Operating System s naming conventions You successfully saved your current workspace under a new name 70 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Opening a Workspace When you open a workspace your desktop appears as it was the last time you saved the workspace Note Increasing the resolution of your monitor provides more desktop space because windows and fonts appear smaller If you decrease the resolution of your monitor the opposite is true gt To open a previously saved workspace A Warning Save changes in your open workspace before opening a previously saved workspace or all
15. Note Refer to Setting Customer Defaults to Read Only on page 91 for a discussion on making your Customer Defaults market based TTUS Integration with Customer Defaults When using TT User Setup X TRADER receives Customer Defaults from TTUS TTUS administrators allow or restrict traders from editing their own local defaults You can create your own Customer Defaults locally in addition to the ones you get from TTUS The Customer Defaults set by your administrator and the Customer Defaults you create locally are all seen together in the same Customer Defaults window In the example below the dark gray area identifies view only settings from TT User Setup The light gray identifies locally configurable settings oo oan or A black be wee 7727 HELLES Opan Open Open Open Ope Open Ope Open Open Oper 86 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Customer Defaults Dialog Box Field Descriptions You define a profile on the Customer Defaults dialog box to establish all of the most common order variables by customer name for each customer You can add a new profile or change the profile of a current customer at any time By changing the Customer Defaults profile all subsequent orders for that customer are affected Customer Defaults m Defaut gt m orn DOE m CME FUTURE a12345 3 JANE DOE C CBOT ZB SPREAD b67890 M1 Note An asterisk represe
16. Right click anywhere in MD Trader and click Properties Click the MD Display tab Click to select the Keep MD Trader on Top option To set for all subsequently opened MD Trader windows click to select Set as Global Default Click OK No ae 9 You successfully enabled the on top feature 266 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview One Click Trading with MD Trader MD Trader lets you buy or sell products using one click of the mouse It offers a trader the ability to one click trade across the depth of a market for either a buy or sell order The grid format dynamically displays the market depth for a given product and lets you enter orders quickly by simply clicking in specific cells of the grid Follow these procedures to use one click trading with MD Trader e Setting one click trading e Using one click trading with MD Trader gt To set one click trading 1 5 Open MD Trader 2 Right click anywhere in MD Trader and click Properties 3 4 To set this property for all subsequently opened MD Trader windows click to select Set as Global In the Order Parameter section enter a Maximum Order Quantity Default Click OK You successfully set one click trading gt To use one click trading with MD Trader 1 Set one click trading 2 Open MD Trader 3 Select a customer profile 4 Enter an order quantity 5 Refer to the tables below to perform
17. Use 2nd default Oty Use EBS Regular Oty Use EBS Regular quantity field on the MD Trading tab 422 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Color tab The Color tab lets you customize all the colors on the EBS Quote Board window Quote Board EBS Background Non Selected Pa EURIUSD Backgound Selected Pane Border Selected Pane 74 75 Dealable Best Ask Dealable Best Bid 7 4 T4 5 EBS Best Ask 5 15 EBS Best Bid Grd Position Long EURI JPY Position Short Regular Outside Ack 42 43 Reguar Outside Bid Threshold Exceeded Oty 4 43 Working Buys Working Sells 5 45 Time and Saes The Quote Board EBS section on the Color tab X_TRADER User Manual 423 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Trading EBS Contracts in MD Trader You trade EBS products using X_TRADER in the same manner you trade other futures However only the most commonly traded EBS products show depth EBS EUR USD e Prices for EBS product prices display in MD Trader as PIPs within a Big Figure e The Big Figure appears at the top and bottom of the ladder Example A EUR USD price of 1 4502 has a Big Figure of 1 45 and PIP of 02 Ye limit vl e The best Bid and Offer in the market has a black PIP Whether you can see and trade the best Bid Offer is restricted by EBS based on your a
18. after an RFQ is received Account Sec Sets the account type as defined by the exchange tion Al Agent 1 A2 Agent 2 A3 Agent 3 G1 Pre designated Giveup Trade 1 G2 Designated Giveup Trade 2 M1 Market Maker 1 M2 Market Maker 2 M3 Market Maker 3 P1 Principal 1 P2 Principal 2 P3 Principal 3 U1 Unallocated for orders that have not been allocated to a customer account or where allocation is a middle back office function Quote Via The following checks are optional bility Checks Section Cross Check Prevents putting in quote that would immediately get hit The quote is not sent if the bid is greater than the current market ask price or the ask is less than the current market bid Inside Check Prevents beating the market The quote is not sent if the bid is greater than the current bid or the ask is less than the current ask This check does not apply when the Dime Quote Type is selected Prevents putting in quote that would join best bid or best ask The quote is not sent when the bid and or ask are equal to the current market price Price Check Prevents putting in quote with no market The quote is not sent if there is no current bid or ask price 76 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Adding a Product Group gt To add a product group 1 From the Control Panel click the Settings menu and choose Product Group Set
19. jog B 1 9571 5 GE MAROS ps001003 18 23 47 000 BOOIFO 1010 05 1323 47 03 The following panes compose the Trade Book window e The Summary pane is the top part of the window e The Partial Fill pane when displayed is the middle part of the window e The Detail pane is the bottom part of the window Follow these procedures to use the Trade Book window e Displaying Fill Details In the Trade Book Window on page 368 e Showing or Hiding Partial Fills on page 368 e Sorting Trade Book Data on page 369 e Filtering Overview on page 50 gt To open the Trade Book window From the Control Panel click the Window menu and choose Trade Book Or From the Control Panel click the e icon You successfully opened the Trade Book window X_TRADER User Manual 365 Trading Technologies International Inc Proprietary and Confidential Information Chapter 13 Trade Book Grid Summary The following panes compose the Trade Book window e The Summary pane is the top part of the window It displays a single line of information for each filled order in the top half of the window It is possible when multiple fills are received for a spread they appear as separate legs e The Partial Fill pane when displayed is the middle part of the window It displays partially filled orders Once an order is filled completely or deleted the summary information moves to the Summary pane e The Detail pane is the bottom part of the window It disp
20. 193 iii 200 200 414 339 377 375 377 372 378 377 376 274 371 373 379 375 saving information Time and Sales tab Time In Force md trader Timed Orders Timing of Excel Updates TOCOM best limit order BL if touched IT market order market to limit MKT MTL Tokyo Commodities Exchange Toolbar changing size Tracking Quotes Trade book column descriptions grid summary Trade Book context menu detail pane display fill details partial fill pane partial fills sorting data summary pane TradeList Trader Identification in Order Book TradeSounds Trading BrokerTec EBS EBSQuote Board eurodollar options ICE in yield out a position in md trader SFE specialty exchanges TOCOM with a spread or strategy with the butterfly condor matrix with the keyboard in md trader with the order bar with the spread matrix Trading tab admin alert messages implied and outright combination example implied with direct markets example 378 124 173 339 258 291 200 435 292 293 292 293 292 296 292 296 297 292 299 297 292 299 435 66 67 234 437 366 365 367 366 368 366 366 368 369 366 274 327 129 406 415 416 237 427 138 270 433 405 435 242 311 279 144 207 311 96 101 226 226 X_TRADER User Manual Trading Technologies International Inc Index Trailing stops X_TRADER Pro implieds in X_ TRADER Trailing stops TStop TT Minimizer TT User Setup TT_TRADER exiti
21. 283 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Keyboard Procedures Use the following procedures to trade using the keyboard in MD Trader e Entering a Buy Order e Entering a Sell Order e Entering the Order Quantity e Deleting All Orders Bids and Offers e Centering the Market e Loading the Net Position e Sending a Market Order e Setting the Limit Price e Sweeping the Market e Hitting the Bid e Taking the Offer e Dime the Offer e Dime the Bid Join the Bid e Join the Offer e Combo Dime the Bid or Offer e Combo Join the Bid and Offer In addition refer to Keyboard Trading in MD Trader on page 279 for a comprehensive keyboard maps and descriptions Entering a Buy Order Using the Keyboard In MD Trader once keyboard trading is enabled you can enter a buy order using the keyboard Note You can change the hotkeys associated with these commands gt To enter a buy order 1 Enable keyboard trading 2 Press the p and c keys to select the desired limit price 3 Press the o key to focus keyboard entry on the Order Quantity field 4 Type in the desired quantity of the buy order on the keypad 5 Press the a key to send the buy order You successfully entered a buy order 284 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Entering a Sell Order Using the Keyboard In MD Trader once keyboard trading is enabled you can
22. From the Market Grid context menu highlight Links and click RTD or From the Autotrader context menu click RTD The RTD dialog box appears RTD Instrument CBOT A ZB JUNDS CBOT A YI APROD BOT A YI MAYOS CBOT A Y11039 y AVGOPENFRICEINDECIMAL AVGOPENPRICEINTICKS AYGOPENPRICERND AYCOPENPRICERNDS AYGOPENPRICERND AYGOPENPRICERNDE BID BIDS J C Result RTO KTAPLRTD Instr CBOT A 2B FUTURE JUN09 AVG In the Instrument section click to select the contract you want to use Note You can drag or drop other contracts from the Market Grid or Autotrader into the upper left Instrument section In the Properties section click to select a property whose formula you want to paste In Excel X_TRADER User Manual Trading Technologies International Inc Market Window Overview Note Press and hold the ctri key to select multiple properties 5 Click Generate In the Results box the formula s appears If multiple properties were selected the formulas are in the same order as the properties 6 Click Copy 7 Navigate to Excel and paste the formula s 8 In the RTD dialog box click Exit You successfully used the RTD interface Viewing your Estimated Position In Queue You can view your Estimated Position in Queue EPIQ in MD Trader and the Market Grid EPIQ estimates how many contracts are in front of your order at any given price e If your EPIQ is 10 there are approximate
23. U2 Unallocated Automatic U3 Unallocated System Field Description Account Number Indicates a back office account number to include with your order Field Description Clearing Member Indicates the clearing member code you set up in the Customer Defaults Code window Used for Give up trade accounts only Field Description o Free Form Text 2 When you select your customer this field seeds with the FFT2 field set up field on the Customer Defaults window Altematively you can type up to 15 alphanumeric characters in the FFT2 field in the Order Entry pane prior to sending an order Field Description C Hold Clear Clears all contract price and quantity data without sending the order ear Confirm to market Note The quantity Clear button is below the quantity buttons This button changes the quantity to zero without impacting the other fields Hold When checked the order goes to the Order Book but is not sent to market The Order Book acts as a location to hold the order until you send it on to market or delete it The change to the order reflects in the TTStatus column in the Order Book Confirm Lets you confirm an order before it is sent to market The Buy and Sell buttons become Apply Buy or Apply Sell Use the Order Entry tab on the Properties menu to enable this feature for every order entry window X_TRADER User Manual 175 Trading Technologies International Inc
24. X TRADER User Manual Version 7 7 5 Document Version 7 7 5 X DV1 3 24 2010 Trading Technologies International Inc Legal Notices This document and all related computer programs example programs and all source code are the exclusive property of Trading Technologies International Inc TT and are protected by licensing agreements copyright law and international treaties Unauthorized possession reproduction duplication or dissemination of this document or any portion of it is illegal and may result in severe civil and criminal penalties Unauthorized reproduction of any TT software or proprietary information may result in severe civil and criminal penalties and will be prosecuted to the maximum extent possible under the law Information in this document is subject to change without notice Companies names and data used in examples herein are fictitious unless otherwise noted No part of this document may be reproduced or transmitted in any form or by any means electronic or mechanical for any purpose without the express written permission of TT All trademarks displayed in this document are subject to the trademark rights of TT or are used under agreement by TT These trademarks include but are not limited to service brand names slogans and logos and emblems including but not limited to Trading Technologies the Trading Technologies Logo TT X_TRADER X_RISK MD Trader Autospreader X STUDY TT_TRA
25. You successfully opened a Wholesale Trade window Wholesale Trading Audit Trail Messages The two firms negotiate the terms of the transaction outside the market They must decide which firm executes the order The executing member submits the order Because the counter member does not submit an order no counter member information exists in the order The counter member does not receive order acknowledgement or fills Once a wholesale order is submitted it cannot be canceled revised or handed to a different trader Note TTORD Traders are permitted to send Block trades The following wholesale trading events cause a message to appear in the Audit Trail Order Submission Wholesale order has been submitted to the exchange Order Receipt Wholesale order has been received by the exchange Fill Message One fill message is sent for the buy side of the order Fill Message One fill message is sent for the sell side of the order Order Reject Order is rejected by the exchange X_TRADER User Manual 381 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Wholesale Trading Types Wholesale trades are defined as follows e Block Trades High volume trades in any outright or strategy product e Basis Trades Strategies for long term bond markets that incorporate a futures leg and an underlying or cash leg Only the future leg is traded at the LIFFE exchange The cash leg is traded on a separat
26. e Chart Opens an X_STUDY chart for the selected con tract e Copy Places selected data on a clipboard for pasting into another program e g Excel e Insert Creates a spacer row above the row you clicked on e Delete Deletes a row e Links Lets you control links manage your paste delete and manage your links o Paste Link Creates a dynamic link between the two programs so that data from one program auto matically updates the data in the other Delete Link Removes an established link Manage Links Lists all applications with links to the Market Grid RTD Opens the RTD dialog box letting you copy formulas from the Market Grid and paste them for use in Microsoft Excel e Send RFQ Opens the Request For Quote dialog box for a specific contract and quantity X_TRADER User Manual 191 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 e Quoting This option is available when you enable quot ing in the Trading tab on the Properties menu Refer to Quoting Overview on page 229 e Show Displays and disables the quoting bar when quoting parameters are defined e Select Highlights the Quote column in the Mar ket Grid based on All All orders Calls Just calls for Option Markets Puts Just puts for Option Markets 2 sided Mkts Just two sided markets Last Pre Orders with an LTP e Activate Marks the Quote column fo
27. gt To generate a Butterfly Condor Matrix 1 Generate a Spread Matrix 2 At the top of the Spread Matrix click the Butterfly button You successfully generated a Butterfly Condor Matrix gt To view a Butterfly Condor Matrix in the same window 1 Generate a Spread Matrix 2 Add a tab to the Spread Matrix 3 Generate a Spread Matrix in the new tab 4 At the top of the Spread Matrix click the Butterfly button You successfully generated a Butterfly Condor Matrix X_TRADER User Manual 317 Trading Technologies International Inc Proprietary and Confidential Information Chapter 9 Butterfly Matrix Calculations 318 The calculations made for a Butterfly Matrix follow Implied Bid Price Ist Leg Front Month BidPrice 2 x 2nd Leg Middle Month AskPrice 3rd Leg Back Month BidPrice Implied Ask Price Ist Leg Front Month AskPrice 2 x 2nd Leg Middle Month Bid Price 3rd Leg Back Month AskPrice Implied Bid Quantity Lesser of 1st Leg Front Month Bid Quantity and 2nd Leg Middle Month Ask quantity 2 and 3rd Leg Back Month Bid Quantity Implied Ask Quantity Lesser of 1st Leg Front Month Ask Quantity and 2nd Leg Middle Month Bid quantity 2 and 3rd Leg Back Month Ask Quantity Trading Technologies International Inc X_TRADER User Manual CHAPTER 10 Quote Board Overview Quote Board displays the open high low last and net chang
28. 2 Click a bid or ask cell in the appropriate instrument row The price seeds in the Order Entry pane and the contract information immediately appears in the Order Summary field The default options Market window displays the Calls on the left and the Puts on the right 3 Add or change any necessary information e g quantity price order type time in force Note By default you are placing a Limit order To place a Market order click the Limit button under the Order Summary field This grays the Price field 4 To execute click Buy or Sell You successfully submitted an order in the Order Entry pane 180 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Submitting a Mutual Offset Order X_TRADER lets you submit Mutual Offset System MOS orders The MOS agreement between the Chicago Mercantile Exchange CME and the Singapore Exchange SGX lets you open a futures position on one exchange and liquidate it on the other This is one way to manage your overnight risk The agreement includes the following instruments e Eurodollars e Euroyen TIBOR e Nikkei Yen e Nikkei Dollar You must designate a trade as an MOS trade prior to submitting gt To submit a Mutual Offset order 1 From the Control Panel click the Settings menu and choose Customer Defaults 2 Find the Customer Default row you want to designate as Mutual Offset trades and set the Acct field to G2 3 In
29. 25 25 26 252 84 240 200 402 317 55 120 445 135 89 39 397 233 202 195 Index Credit Equity orders spread matrix spread strategies tabbed market grid or spread matrix user defined price column workspaces Credit establishing Cross Orders cbot Cross Trading enabling Custom Market strategies Customer Defaults changing profiles creating profiles customer list deleting profiles displaying in customer list features field descriptions market based order entry pane properties read only setup sharing ttus integration uneditable Customer List displaying customer names order entry pane Customizing EBSQuote Board Customizing MD Trader adding sound to controlling the zoom feature default quantity buttons moving columns resizing Customizing the Quantity buttons market window md trader Data filtering formatting sorting in the trade book Deactivating a Strike or Expiration multiple Dealable best Default hotkeys 446 308 Default quantity 241 setting in md trader 183 193 Deleting 138 263 customer defaults profile 69 manual fills orders in md trader 185 using the keyboard 212 orders in the order book 214 after the delete request is sent 212 product groups 212 quotes 240 spread or strategy 85 working orders in spread matrix 90 workspaces 89 Disable 93 quoting 90 Disassociating a product from a product group 93 Displaying 86 fill details in the trade book 87 inside mark
30. Click Buy or Sell to trade You successfully traded with the Floating Depth Window Floating Depth Window Examples The Floating Depth Window will not launch if e There is no depth available e You try to launch it from a non tradable contract The Floating Depth Window consolidates price rows to display the three best available bids and offers FDW 3 best bids and offers Blank lines only appear if there are less than three levels of depth available to trade Note The Floating Depth Window is not compatible with BrokerTec ppg FDW blank lines 206 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Trading with the Order Bar You can set the Order Bar as your primary method for sending orders to the market As a Floating Order Entry the Order Bar works in direct conjunction with the Market Grid Order Book Autotrader Spread Matrix and Quote Board To use the Order Bar you must enable it as your Floating Order Entry and enable the Floating Order Entry option in the functional window CBOT ZB Mar09 The Buy Order Bar CBOT ZB Mar093 X The Sell Order Bar Order Bar Features The Order Bar has the following features e Enable the mouse for quick click trading One advantage to the Order Bar is the ability to quick click an order into the market You click the quantity and the cursor automatically moves to the Buy or Sell button To use this feature yo
31. Control Panel Overview MD Color Tab Use the MD Color tab to customize your colors for MD Trader To change your color options refer to Changing Global Colors of Windows or Text on page 119 Note When accessed via the context menu the Set as Global Default checkbox at the bottom of the tab applies these properties to all subsequently opened MD Trader windows MD Color Average Price Long Background Average Price Shoit Best Ask Price mimi Best Bid Price i Buy Side Blank Buy Side Depth Daily High Bar Daily Low Bar Disclosed Quantity Highlight EPIQ Bid EPIQ Offer Last Traded Pace Down Last Traded Price Unchanged Last Traded Price Up Mouse Hover Border Net Change Down Net Change Unchanged Net Change Up Position Flat Position Long Position Short Sell Side Blank Sell Side Depth Working Buy Order Working Sell Order Restore D etauts C Set as Global Default Average Price Long Blue with black text Average Price Short Red with black text Best Ask or Bid Default Colors Best Ask Price Red with black text Best Bid Price Blue with black text Buy Side Default Colors Buy Side Blank Dark Blue Buy Side Depth X_TRADER User Manual 135 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 136 Daily High and Default Colors Low Daily High Bar Yellow Daily Low Bar Disclosed Quantity Default Colors Highlight Dis
32. E SEP gt 6E DECO9 5 Right click the contract and click Rename 6 Type the new contract name and press Enter You successfully renamed contracts gt To restore contract names 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon 2 If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 3 From the Product Types box click to toggle between the displayed types 4 In the Products box click the next to the product whose contract name you want to restore 5 Right click the contract and click Restore You successfully restored contract names X_TRADER User Manual 167 Trading Technologies International Inc Proprietary and Confidential Information Chapter 5 Populating Windows with Contracts From Market Explorer you select which functional window to open and populate with the products you wish to trade These functional windows include MD Trad rader Market Grid Market Grid MD Trader MD Trader Quote Board Quote Board Spread Matrix Time And Sales Spread Matrix Time and Sales Default Chart Alerts Manager Autospreader For X_TRADER Pro users Autotrader For X_TRADER Pro users Default Chart Opens in X_STUDY Follow these procedures to open a functional window with Market Explorer e Populating a functional window using drag and
33. MD Display MD Color Customize color specific options and features for MD Trader MD Advanced Enable and define the User Defined Price UDP column in MD Trader which among other things allows you to trade in yield Use the properties menu to set these properties e Auto Centering e Average Price Highlighting e Recognizing the Average Price of Open Position e Consolidating Prices e Creating a User Defined Price UDP Column e Displaying a Small MD Trader Window e Displaying the Mid Point of Inside Market e Keeping MD Trader on Top e One Click Trading e Placing Stop Orders e Setting the Maximum Trade Quantity e Trading Out a Position Using One Click e Trading in Yield e Viewing your EPIQ 260 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Auto Centering in MD Trader When enabled the auto centering feature available in MD Trader automatically centers the grid display Note This feature works independently of the Participate in Global Recentering property Refer to MD Display Tab on page 131 for more information P To set automatic grid centering 1 8 Open MD Trader 2 Right click anywhere in MD Trader and click Properties 3 4 5 Click the MD Display tab Click to select the Automatic Grid Centering option Choose the option that determines when MD Trader recenters e Every _ seconds e Last Traded Price Within _ rows from top bottom e Inside M
34. SS a rT ma ee DD oe 129 Mark 73 PE AAO EEA 15700 3 1 g JUS 137150 15700 8 SS u FHD Wao U Gnda ane lt Features of the Market window include e Send orders using just one click of the mouse Refer to Click Trading Overview on page 215 e Use tabs to organize multiple markets Refer to Using Tabbed Windows on page 193 e Include Implieds for spreads in columns and in depth Displays Implied price and quantity data in the same columns as direct price and quantity data Refer to Setting Implieds on page 225 e Use customer profiles to trade Refer to Customer Defaults Setup on page 85 e Highlight orders in the Market Grid X_TRADER User Manual 171 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Order Entry Pane Overview The Order Entry pane is the top half of the Market window Use it to place orders for instruments displayed in the Market Grid It contains the price quantity customer and many order type fields BI CME 6t ag ggg DER 2 x 19648 0 6E JUNOS GTD Limit lt None gt ID Tua crows v 0pa vja w Cross vat gt Cross Cee Follow these procedures to use the Order Entry pane Data v e Submitting an Order In the Order Entry Pane e Submitting a Mutual Offset Order e Using the Floating Order Entry Window e Using the Mouse to Control Order Quantity and Price e Confirming the Status of an Order e Closing the Order Entry Pan
35. You successfully deleted an order 340 X_TRADER User Manual Trading Technologies International Inc Order Book Overview gt To delete multiple orders 1 Click the first order you want to delete and hold the button down while you move the mouse across the order rows or Hold the crri button down and click each order you want to delete 2 Select the Delete button in the top pane The Audit Trail message specifies the action taken Delete You successfully deleted multiple orders gt To delete all visible working orders Click the Delete All button to cancel all visible working orders Warning Using the Delete All button to empty your Order Book does not delete any orders that have been hidden by filters You successfully deleted all visible orders gt To delete all visible orders and orders hidden by filters 1 Right click on any cell in the bottom pane of the Order Book window 2 Click Clear All Filters from the menu Note This is the only way to ensure that all the filters have been removed You successfully deleted all visible orders and orders hidden by filters After the Delete Request is Sent After the delete request is sent e The original order s status temporarily changes to Deleting before the Order Book removes it e The Audit Trail displays two messages The first confirms the exchange received the request The second confirms the request is processing Note If an Or
36. Your estimated position in queue for working sell orders The ask Member ID If supplied by the exchange Your net position Your net position accounting for fast fills The last traded price The last quantity Behaves differently for each Gateway e For some e g CME and Euronext it is a cumulative total of all trades at that particular price It sums the last quantity while it remains at the current trading price Once the trade price changes the last quantity resets e For others e g LIFFE Eurex and Xetra it is the last traded quantity The total traded quantity for the session The high price for the session The low price for the session The opening price for the session The closing price Can be used to seed the Order Entry pane The settlement price Can be used to seed the Order Entry pane The difference between the last traded price and the previous session s settlement price e Ifthere is no LTP this field is blank e Ifthere is no Settlement the Close price is used instead e Ifthere is no Settlement or Close price this field is blank The theoretical price The theoretical bid price The theoretical ask price X_TRADER User Manual Trading Technologies International Inc Market Window Overview Mkt BQQ Mkt BQP Market AQQ Market AQP Imp BidQty Imp AskQty Imp AskPre EBSRegBid EBSBestBid EBSBestAsk EBSRegAsk Click Trd S Status Exp Date X_TRADER User Manua
37. changes will be lost 1 From the Control Panel click the File menu and choose Open Workspace Or From the Control Panel click the button 2 Click the name of the workspace you want to open and click OK If the workspace you open contains a product from an exchange you did not log into you are prompted to log into that exchange If any part of a workspace is corrupt an error message informs you not all windows could be opened This happens when the Market Grid contains an expired contract The unopened window is deleted from the workspace and the message does not reappear You successfully opened a previously saved workspace X_TRADER User Manual 71 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Managing a Startup Workspace You can set a workspace to start automatically when you log into X_TRADER e Setting your startup workspace e Clearing your startup workspace gt To set your startup workspace 1 From the Control Panel click File and choose Save As Note Alternatively you can do this from the Open Workspace dialog box 2 In the Save Workspace As dialog box click the workspace you want to start every time you log in Save Workspace As Workspace Name Last Saved Date MOT 1157 2009 12 34 08 PM MG 1157 2009 12 33 56 PM MDT Save Set as Startup yl Cancel 3 Click Set as Startup The workspace is marked as startup You successfully set
38. e Bracket First OCO order is Limit Second OCO order is Stop Limit or Stop Market Both orders must be on same side of market i e 2 Buys or 2 Sells e Breakout Both OCO orders can be Stop Limit or Stop Market Both orders must be on opposite sides of market i e 1 Buy and 1 Sell e Custom Both OCO orders can be Limit Stop Limit or Stop Market No restrictions other than check for invalid price levels by order type Type of Order 1 Sets the order type the two orders in an OCO relationship follow Type of Order 2 When one of the orders executes the other cancels Note If your OCO gets partially filled the second order is reduced by the quantity the first order was filled Sends orders which can only be filled by an Aggressive order Sends orders without canceling and replacing previously sent orders on the same side for the same product Only needed when the Send Quote Order property is enabled on the Order Entry tab Note This property overrides the Allow only one order per side property TradeSounds Description Properties Button TradeSounds Opens the TradeSounds Properties dialog box Properties Refer to Managing TradeSounds on page 129 128 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Managing TradeSounds TradeSounds beep when trade updates come from an exchange Besides being exclusive to MD Trader TradeSounds are TradeSounds Properties
39. letter of the exchange name symbol Contains The product name or alias entered in the text box is contained in the exchange name symbol If you want to search an alias common name for the product click to select the Search Descrip tions checkbox Type your search criteria in the available space The matching products appear in the Products box as you type You successfully searched for a product 166 X_TRADER User Manual Trading Technologies International Inc Market Explorer Overview Renaming Contracts You can create custom names for any contract using the context menu in Market Explorer Market Grid Quote Board and Order Book The custom names display in all other X_TRADER windows for every flavor of the gateway Example If you rename a contract in CME A the contract name persists for CME B and all other CME flavored gateways e Renaming contracts e Restoring contract names gt To rename contracts 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon 2 If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 3 From the Product Types box click to toggle between the displayed types 4 In the Products box click the next to the product whose contract you want to rename OMe 6E 1 amp SE DEC Find Control Panel amp 6E MAF d ar 22 na amp
40. use the Customer List This is especially useful when you are monitoring multiple products and markets and placing orders for the same customer Note Clicking N in the top right corner of a Floating Order Entry does not disable the feature X_TRADER User Manual Trading Technologies International Inc Market Window Overview Using Multiple Floating Order Entry Windows You can set X_TRADER to launch a separate floating order entry window for each window with Floating Order Entry enabled lowe ot alsi T a oor conne wena ny sare T aerer Taorou varsan ta os Lastre T Lantos etme cno 13862 0 T MEE 13862 0 4 17924 i 138310 1383100 1 pe CME 6E Sep09 1 J simo Z 5x18660 GE Sep09 GTD Limit lt None gt 5 13866 0 lt None gt v Open vlAl Clea W W ctu V 6565 Quote Board 4 ajs fo f um ed CJ 100 J C Hod i C Cortin CBOT ZB Mar09 GIs Imo A A 10x 140280 ZB Mar09 GTD Limit lt None gt 100_ 500 10 440280 lt None gt x Open v l Clear Ww l Ww lt Detaub w 6565 C Hold Buy Sell Sie Example e Two Market Grids both enabled for floating order entry launch and seed two sep arate FOE panes e A Market Grid and a Quote Board enabled for floating order entry launch and seed two separate FOE panes e One Market Grid with two tabs launches and seeds the same single FOE pane Multi
41. 1 Click to select a Market Grid cell and press the insert Buy order or Pageup Sell order key or If the Floating Order Entry window is enabled click to select a Market Grid row and press the Insert Buy order or PageUp Sell order key 2 Press TaB or SHIFT TAB to move to the quantity or price text box Shown above 3 Use the keyboard to enter a value 4 Press F2 to send a Buy order or Press F11 to submit a Sell order Note Enable and configure the hotkeys in the HotKeys tab on the Properties menu You successfully entered a quantity using the keyboard X_TRADER User Manual 223 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Order Change Dialog Box Overview Hold down the crru key and click in a cell where a working order exists to access the Order Change dialog box from the following X_TRADER windows e Market Grid e Spread Matrix e Butterfly Condor Matrix Order Change EER 54 MAR08 GTD LIMIT Acctcustl BO2E37 ho Ees g LIMIT v GTD v Delete _ Cancel Beplace You can perform other transactions while keeping the Order Change dialog box open When you open an Order Change dialog box it displays on top of the parent window and can be moved The dialog box and its order save with your workspace Note You may have only one Order Change dialog box open at a time Using the Order Change Dialog Box The Order Change dialog box lets you
42. 10 seconds Note If the Pitch for either the Starting or Ending column is 0 the Duration for that column must also be 0 Range 1 5 repetitions X_TRADER User Manual 129 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Hearing TradeSounds Follow these procedures in order to hear TradeSounds in MD Trader e Setting TradeSounds e Enabling TradeSounds gt To set TradeSounds 1 Navigate to the MD Trading tab 2 Atthe bottom of the page click the TradeSounds Properties button The TradeSounds Properties dialog box appears 3 Under Trade Quantity column set the range at which you want the first level TradeSound to alert you Note You can set up to five levels of TradeSounds for both Buys and Sells 4 Click the Play button to hear the default sound 5 If you want to change the quality or length of the two tone beeps change the Starting and Ending Pitch and Duration numbers as you desire Note To disable either the start or end beep make the Pitch and Duration zero 0 6 Click the Play button to hear the beep as you change it 7 Ifyou want the beep to play more than once under the Repeat column indicate how many times you want the beep to play when a trade occurs Note You can repeat a sound up to 5 times 8 Repeat Steps 3 7 for each of the five levels of Buys and five levels of Sells you want to set 9 When you are finished setting TradeSounds click OK
43. 437 390 157 111 145 387 384 116 106 395 360 164 165 187 138 135 131 246 125 329 172 102 109 142 113 121 372 124 96 147 292 106 437 347 434 363 349 350 359 354 349 Index Fills pane ICE Fills pane column descriptions Fills Pane context menu grid summary start of day fills Filtering clearing clearing all effects on X_TRADER on quantity for specific contracts procedures removing auto filters saving setting setting auto filters time and sales Fixing a Workspace Flex Options Trade field descriptions submitting Floating Depth Window examples Floating Order Book keyboard using Floating order entry quote board Floating Order Entry quote board using multiple Flow FOK Font formatting Forex Formatting fonts grid text or colors grids quantity buttons quantity buttons md trader Formulas rtd generating Frame Command Bar Frequently asked questions G Game Pad Control in MD Trader Generating butterfly condor matrix 448 437 350 352 351 353 50 51 51 53 378 50 52 50 50 52 377 73 395 395 396 205 206 342 345 343 325 176 325 179 432 292 53 415 53 55 57 182 275 202 61 27 290 317 rtd formula spread matrix Getting Started audit trail messages automatic shutdown begin trading context sensitive help creating a customer profile entering a market order exiting logging in exchange exchange without logging out with d
44. 5 Time and Sales and Customer Defaults et BEE Customer Defaults Japanese Quote Board and Spread Matrix 35428 K BOB BES Ge Ea E x k nF MEE 134 0 34950 48000 2 cae 185 5 35050 48000 2 48000 1325 34950 30000 2 35010 1326 a 34960 41100 2700 a 48000 23 0 10 3900 7800 0 0 0 0 ALUM 2009 08 CRUD 2009 05 GASO 2009 07 G 2009 KERO 2009 07 35060 41100 35060 41100 6050 0 Quote Board Japanese 22 X_TRADER User Manual Trading Technologies International Inc X_TRADER LL aE L 22 l ZIN54 LOWE 9755 0 9768 5 9766 5 9757 5 9755 5 2122 813 9766 5 1607 9757 5 44 606 9768 0 2051 9766 0 505 9757 0 221 JUNOS SEP08 DEC08 JUNOS 586 11 5 9755 5 2122 2 5 14335 606 813 9768 0 2051 505 221 GE GE_Bfly Eurbort AWI lt Spread Matrix Japanese X_TRADER User Manual 23 Trading Technologies International Inc Proprietary and Confidential Information What s New in 7 7 5 Autospreader and Autotrader Autospreader IRE ATF FYT A RA EL v AOVTRE THAF Arbor lt 27 es kiA EFSUEB AAHAR wv Lote RA OBOT ZF Mar10 zi CBOT ZN Marl0 wee lt Detault gt lt Detaul gt Fa t 4 PUL BORE 2 SC mte E LPA eI Noy s 8 JEER RIP O F492 0 AZ bo FLEE 3 2 AT bo MBSR 1 9 AP Eo NRE SIRSE A S ORA PSEA iS durt EAT Orb AR h U2vb g 99 lazo O r Y A997 50 Pie
45. 7472 11675 8 7275 11700 s Tas St nrnsr 0 Note Implied prices only appear in the market when they are equal to or better than the outright prices X_TRADER User Manual Trading Technologies International Inc Market Window Overview Implied In An Implied in is a spread price generated by the differential of two contracts The natural curve of futures contracts dictates deferred contracts will be priced higher than near contracts Therefore spread prices are often negative prices Formula e Bid spread price for Spread AB Bid Price Leg A Ask Price Leg B e Ask spread price for Spread AB Ask Price Leg A Bid Price Leg B In the examples below the spread prices are as follows e Bid spread price for Spread AB 6450 6475 25 e Ask spread price for Spread AB 6451 6474 23 Implied Out An implied out is a leg price generated by the spread price and one of the legs of the spread You can imply out a price in the first or second leg Formulas e Bid Price Leg A Bid price Spread AB Bid price of leg B e Ask Price Leg A Ask price Spread AB Ask price of leg B In the examples below e Bid Price Leg A 25 6474 6449 e Ask Price Leg A 23 6475 6452 X_TRADER User Manual 227 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Implieds From Implieds Implieds from impl
46. BL is entered on the Buy side it enters the market at 613 44 A 10 lot buy Market order would trade at 613 45 e Ifa 10 lot BL entered on the Sell side it enters the market at 613 45 A 10 lot sell Market order would trade at 613 44 You can submit BL orders through the Market Grid or MD Trader In addition BL orders can be sent in combination with the following Stop orders and with a specific Time in Force TIF e BL GTD e BL GTC e BL GTDate e Stop BL e Stop BL GTD e Stop BL GTC e Stop BL GTDate X_TRADER User Manual 293 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 Iceberg 294 An Iceberg order executes a large order by splitting the order into smaller disclosed quantity orders When one disclosed quantity order is filled the next disclosed quantity order is sent until the entire order quantity fills Characteristics Characteristics of an Iceberg order include e They are Limit orders e Each disclosed quantity is equal e You set the disclosed quantity as a number or as a percentage of the order Note In MD Trader you set the disclosed quantity as a number e Iceberg orders can only be Limit orders Deleting If you delete an Iceberg order working disclosed quantity orders also delete If a working disclosed quantity order deletes any partially filled order deletes as well Rounding For products that trade in round lots if the calculate
47. Bar as a Sell seeded with and focused on the Ask price Launch to hit bid Launch Order Bar as a Sell seeded with and focused on the Bid price 210 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Keyboard Trading Procedures Follow these procedures to manage keyboard trading with the Order Bar e Trading using hotkeys e Assigning hotkeys to the Order Bar gt To trade using hotkeys 1 2 3 4 Call the Buy Order Bar or Sell Order Bar using your specified keys Input the quantity and price Press tap to advance fields sa1rt Tas to go back a field Press ENTER to submit the order You successfully traded using hotkeys gt To assign hotkeys to the Order Bar 1 sl sms Di Bs Oe 9 8 From the Control Panel click the Settings menu and choose Properties Click the Hotkeys tab In the Keyboard Layout field click to select Custom In the Component column click Order Bar In the Command column click the command for which you want to assign a hotkey Click in the Press new shortcut key field Press the key or keys you want to represent that command Note Some keys cannot be used as hotkeys E g Delete Backspace Tab and others Click the Assign button You successfully assigned hotkeys to the Order Bar X_TRADER User Manual 211 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6
48. Cancel The following exchanges support wholesale trades for strategies e LIFFE exchange e Euronext Paris exchange e Euronext Brussels exchange X_TRADER User Manual 399 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 gt To 1 SS Se 2 D trade using the Strategy window Log into the appropriate exchange Open the Market Explorer and select a product Create or drag and drop a strategy into the Market Grid Open a Market window for the selected product In the Market window click the row containing the product Right click in the row to access the context menu Highlight Wholesale and click the type of wholesale window you want to open The Strategy Trade window displays The Series Month and AMR fields display data from the Market Grid The legs of the strategy display in the grid on the bottom of the screen Complete steps 9 13 in both the Buyer and Seller sections 9 In both Ace Code fields type the account code for this trade 10 11 12 13 14 15 16 Note Valid entries include H House L Local S Segregated or N Non segregated In both Open Close fields type O or C to indicate whether this trade opens or closes a position In both CTI fields type the appropriate clearing code Note Valid entries include 1 2 3 4 U for unassigned and A for allocation In both Posting Code fields only enter a value if the trade
49. Check this option Then close and restart X TRADER Note You need an X TRADER Pro license to use this option Customer Defaults e Product Group Setup Displays the Product Toolbar Group Information dialog box which lets you create a product group to use with the quoting tool Properties e Spread Table Setup Displays the Spread Tables dialog box which lets you create a spread table to use with the quoting tool e Customer Defaults Displays the Customer Defaults dialog box which lets you create or view customer defaults and customer list information e Toolbar Allow you to change the size of the icons on the toolbar e Properties Displays the Properties dialog box Allows you to customize X_TRADER features for the Market window Trading tab 148 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Help Menu The following options are available from the Help menu on the Control Panel e What s New Opens the What s New section Help of the online Help What s New e Help Topics Opens online Help user doc Help Topics umentation T P y P _ TT Remote Help Center Note Alternatively press F1 to see Help related to the screen you are on Software License Agreement TT on the web e Software License Agreement Displays Software License Agreement e TT Remote Help Center Launches the Remote Help Center home page
50. Control Panel Icon and Menu Descriptions You can access X_TRADER functions from the Control Panel using either the icons on the toolbar or the menu options Fie Settings Window Help k1 9 il EJ 2 oA aa TAER E The icons and menu options are defined here e File Menu on page 147 e Settings Menu on page 148 e Window Menu on page 64 e Help Menu on page 149 e The Toolbar on page 66 146 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview File Menu The following options are available from the File menu on the Control Panel e Open Workspace Opens a previously saved work space Open Workspace e Save Saves the open workspace Save e Save As Saves the open workspace under a dif Save As ferent name or with a new name Close All Windows e Close All Windows Closes all open X_TRADER amp windows except the Control Panel Print Setup Exit e Print Setup Displays the Print Setup dialog box You can set up a printing format here but tt will not be saved when you print out the form e Exit Exits X TRADER X_TRADER User Manual 147 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Settings Menu The following options are available from the Settings menu on the Control Panel e X_Trader Pro Activates X_TRADER Pro fea tures including Autospreader and Autotrader TRADER Pro
51. Cross Trades Overview The cross trading feature lets you cross a prearranged order either with a party within the trading firm itself or with a specified party outside the firm Follow these procedures to cross trade e Enabling Cross Trading e Executing a Cross Cross With order gt To enable Cross Trading 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Order Entry tab 3 In the Cross Orders section click Order Crossing Cross Orders Order Crossing ITX Countdown 15 Z Cross Order Type Sequential Guaranteed Sequential Fast 4 If you want to send or are required to send by the exchange an Intention to Cross notification click the ITX Countdown field so it is marked and set the number of seconds to countdown Note This timer is informational and does not trigger a cross order Exchanges that do not support this announcement reject the ITX when it is sent 5 Inthe Cross Order Type field click one of these options e Sequential Fast Default Both orders buy and sell immediately submit one after the other On occasion heavy market conditions can lead to routing the orders through different routers As a result the wrong leg might arrive at the exchange host first e Sequential Guaranteed Waits for an acknowledgement of the first order from the exchange before sending the second order Due to the delay it is possible for a third party to take the offer or bid before bot
52. Day GTD Rstr Restric The strategic restriction put on the order tion Examples lt None gt FOK IOC MOO MV Stop The quantity of a restricted order which behaves differently depending on the restriction Example For Minimum Volume orders it is the quantity that needs to be in the market for the order to go to market Exec Qty The executed quantity of the order Work Qty The working quantity of the order X_TRADER User Manual 157 Trading Technologies International Inc Proprietary and Confidential Information Chapter 4 The canceled quantity of an order when using the Cancel Replace function Account The back office account number or name as indicated in the Customer Default profile Member ID The Exchange Member ID assigned by the Exchange or TTORD ID information The Group ID assigned by the Exchange or TTORD ID information The Trader ID assigned by the Exchange or TTORD ID information The account type as indicated in the Customer Default profile Examples Agent Market Maker Principal Give up Exch Time The time the message is received sent by the Exchange Trading Host The time may be shown in the time zone where the exchange is located Exch Date The date the Trading Host received sent the message Time Sent The time the action was sent from the workstation to the Gateway Source Where the order comes from Examples 0 Normal OS 1 Autospreader 2 Autotrader 3 API XTAPD 4 Ext Source Excha
53. Example The ICE US PJM Power Jan08 contract specifies 21 delivery periods weekdays only of 8300MWh per day SOMW hours for 16 hours So e contract 21 lots 800 MWh per day 16 800 MWh Contract e 2 contracts 42 lots 100MW for 16 hours per day 1600 MWh per day 33 600 MWh 432 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Trading SFE The Sydney Futures Exchange Limited SFE is one of the second largest financial futures and options exchange in the Asia Pacific region SFE provides futures and options on interest rates equities currencies and commodities with a number of its flagship products ranked in the world s top ten most actively traded products in their market sector The following changes were made to support trading on the SFE Implied Asterisk If the first best bid or ask order is based on an implied price an asterisk appears next to the price in the BidPre or AskPre columns Also when viewing market depth asterisks appear next to implied prices The asterisk appears on both the Market Grid Floating Depth and Spread Matrix windows Custom Market Strategy When trading SFE a new strategy called Custom Market appears on the Create Strategy window As you add SFE contracts to the legs in your strategy a price column appears You must add prices to each leg in the strategy prior to creating the strategy Post Fill Account Numbers SFE lets
54. F5 Note You can alter the hotkey in the Hotkey tab on the Properties menu 5 Change the quantity or price 6 Click Buy or Sell to send the order You successfully modified an order with the Order Bar 336 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Changing Trigger Price Orders You can use the Order Book window to change the price of trigger orders Trigger price orders include e Stop Market e Stop Limit gt To change the trigger price in the Order Book window 1 From the Order Book window click to select the trigger order from the Bottom Pane The trigger price edit field appears If touched orders display Trigger Pre stop orders display Stop Pre 83 Order Book1 la r ma DAR l gt 2 ces Buy 10 x YM Market STOP 1 Cust v EC Lock Stop Pre 10322 2 Change the price Note Once a stop order triggers any remaining quantity enters the market as a Limit order You can no longer change the original stop price The trigger price field disables when the order triggers 3 Click the Change button You successfully changed the trigger price in the Order Book window Using the Hold Feature You can place an order on hold using the Order Book window When you place an order on hold you can change it as you would any other order Held orders remain in the Order Book until sent to the market or manually deleted Notes e Held orders are not deleted when you use the Del
55. F7 key MD Trader enters a sell order one tick better than the current best offer in the market and a buy order is sent one tick better than the current best bid price in the market The quantity sold is based on the amount in the order quantity field or on the preset default order quantity You successfully combo dimed the bid or offer Combo Join the Bid and Offer Using the Keyboard In MD Trader once keyboard trading is enabled you can combo join the bid and offer using the keyboard Note You can change the hotkeys associated with these commands gt Combo join the bid and offer 1 Enable keyboard trading 2 Press the re key MD Trader enters a sell order at the current best offer in the market and a buy order is sent at the current best bid price in the market The quantity sold is based on the amount in the order quantity field or on the preset default order quantity You successfully combo joined the bid and offer X_TRADER User Manual 289 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 290 Game Pad Control in MD Trader It is possible with keyboard functionality enabled to use a game pad control which emulates keyboard key presses In effect using a gamepad maps the buttons on the gamepad to specific key strokes on the keyboard which in turn are mapped to specific MD Trader functionality The gamepad plugs into the keyboard port on the workstation s
56. Follow these procedures to display a smaller MD Trader e Displaying a small MD Trader using the Properties menu e Displaying a small MD Trader using the context menu gt To display a small MD Trader using the Properties menu 1 5 Right click MD Trader and click Properties 2 Click the MD Display tab 3 4 To set this property for all subsequently opened MD Trader windows click to select Set as Global Click to select the Use Small MD Trader as Default option Default Click OK You successfully displayed a small MD Trader gt To display a small MD Trader using the context menu Ls 2 3 Open MD Trader Right click to access the context menu Find Control Panel Time amp Sales TradeSounds Chart Clone Alt C Size to Fit Alt F Small Mode Properties Click Small Mode You successfully displayed a small MD Trader Titlebar Buttons The Zoom and Market Explorer buttons do not automatically display in this smaller version of the window This lets you view the product and contract in the MD Trader titlebar If you want to view the titlebar buttons go to the MD Display tab on the Properties menu and disable the Hide Titlebar Buttons property Alternatively you can use the Show Hide Titlebar Buttons option on the context menu to show or hide the titlebar buttons for that particular MD Trader X_TRADER User Manual 265 Trading Technologies International Inc Proprietary and Confiden
57. GROUP O lt lt occ on se nt a ike ph Ls ons en C 79 ASSOCIATING A PRODUCT TO A PRODUCT GROUP 80 DISASSOCIATING A PRODUCT FROM A PRODUCT GROUP 81 SPREAD TABLES SETUP J elu Ay Gl Ia I a a a a 82 ADDING A SPREAD TABLE ooo 83 COPYING AcSPREAD TABL Eana adic pos yh SAYA ORE CY AS AN e EN ORNL Nl AUN each Lh IL Lines 192 84 SAVING A SPREAD TABLE 84 REMOVING A SPREAD TABLE ooo 84 CUSTOMER DEFAULTS SETUP J L 85 CUSTOMER DEFAULT FEATURES l U U I S Be nos Su une S S SI LS Ta Be 86 TTUS INTEGRATION WITH CUSTOMER DEFAULTS ooo 86 CUSTOMER DEFAULTS DIALOG BOX FIELD DESCRIPTIONS ss s ssSsssiai 87 CREATING A CUSTOMER DEFAULTS PROFILE ooo 89 CHANGING A CUSTOMER DEFAULTS PROFILE ooo 90 DELETING A CUSTOMER DEFAULTS PROFILE ooo 90 SETTING CUSTOMER DEFAULTS TO READ ONLY 91 SHARING YOUR CUSTOMER DEFAULTS PROFILE ss 92 TESTING MERE CUS TOMBRSEAST 6 a oe 22 kal ome nrc cdr sss yy huacas kr css Sum hat Anasccoceor2sss95 93 One Customer Name Entry u a a p u muu ede by Lia Pal ces au u skua u Pe Bau So bs khaka 93 ORDER ENTRY CUSTOMER SELECTION OVERVIEW sss 94 iv X_TRADER User Manual Trading Technologies International Inc Table of Contents PROPERTIES MENU OVERVIEW 95 PROPER EY CAB NAMES Week Ree ine i OEE en Oita A Alle iets VIA Lt Sees ght awash NN fe 95 ROMENG TAB O Sa n nt luahan buka kinachu Stoe aed skua hd ua ee techs 96 Adin Al rt M essages 127
58. Manual 409 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 410 Placing Passive and Aggressive Orders There are two ways to send orders to the BrokerTec market Passive and Aggressive Passive orders rest in the market waiting for an Aggressive order to Hit or Take them Aggressive orders Hit or Take Passive orders resting in the market in To send a Passive Order To send an Aggressive Order Market Win Click the Bid or Offer buttons Click the Hit or Take buttons dow MD Trader Click the Passive order type from the MD All orders are sent Aggressive by Trading tab on the Properties menu default Autotrader Not Applicable All orders are sent Aggressive Autospreader Not Applicable All orders are sent Aggressive Since two Passive orders on opposite sides of the market can not fill each other those two orders lock the market until an order is placed to either hit the bid or take the offer The BrokerTec market therefore will display crossed markets when Passive bids and offers are resting at the same price When trading BrokerTec the P A column in the Fill Window Trade Book and Audit Trail indicates whether the order was filled as A Aggressive or P Passive If a Passive order has the Auto Aggressive property enabled and fills by becoming Aggressive the P A column displays PA The Auto Aggressive Property To counteract your Passive order getting l
59. Nh SBN SOIR te Bt aE NA oat 362 EAST PILES PANE OVERVIEW ez uray unu Sun yy a AS ogee pag Ub tee Shu h dran Gig elk n yaq aa 363 EAS PIC NODE Ss he A hu pa lt a eta u D et ye ig Ud a tae eed Pu su hee taa saat e sau t 363 EUREX FAST FILLS INFORMATION 2 364 FFNet and NetQty Synchronization 364 FASTRIEPBSUPA NE CGONTIE XT MENU gt do temna bl eos teu atan eee aya 1 C ukap AA Ree 364 TRADE BOOK OVERVIEW sisi r rinrlai sC 0 B 365 TRADE BOOK GRIDSUMMARY U aa LLL 366 TRADE BOOK CONTEXT MENU M r 2 aaa u k a S aaa un au al 367 SHOWING OR HIDING PARTIALFILLS esses 368 DISPLAYING FILL DETAILS INTHE TRADE BOOK WINDOW ssi s s i i i i i i i itit 368 SORTING TRADE BOOK DATA 69 06 seua NE ence Sah thon mf whee Za uya LEE AAs HoT ARES s uA AN Ee 369 TIME ANDSALESOVERVIEW iiss 371 COLUMN D ESCRIPTIONS ra 4 So seca E lID y ie hu AA DS Pot A Bat he oe ala a QQ 372 PIL a AAAS ASWA A Letts CAAO O AAA A A QR AIM ASAS Suu ti EE sae AS ONBAN 372 POPULATING THE TIMEAND SALES WINDOW si 373 READING THE TIME ANDSALES WINDOW ssi iisss si i i i lt i is ststs LLL 375 RECOGNIZING COLOR CODES ss s i i i iit 375 HIDING TIME ANDSALES COLUMNS ss t ti iswsisi i it 376 TIME AND SALES CON
60. Properties for the Audit Trail Window The following properties in the Audit Trail window are customizable e Audit Trail Messages and Audit Logs Select how many records to show which messages appear how many Audit Logs to hold on to and how large the Audit Trail file can get before a new one is created Customize in the Audit Trail tab on the Properties menu e Color Code Messages Select any color text and background to identify Audit Trail mes sages Customize colors in the Color tab on the Properties menu The default colors are Message Type Defined in Color tab as Default Buy Text amp Buy Background blue text with a gray back ground Sell Text amp Sell Background red text with a gray back ground Exchange Announce Message Text amp Message Background white text with a gray back ment round Gateway Alerts Alert Wam Text amp Aler Wam Back black text with a yellow back ground ground e Audio Notifications Select a wav file to assign to the Exchange Announcement event Add sounds in the Sounds tab on the Properties menu e Audit Trail Columns Select which columns are viewable gt To customize visible columns 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Audit Trail tab 3 Click the Audit Trail Columns button The Audit Trail Columns dialog box appears Note By default all column headings are selected 4 Click to de select the column headings you do
61. Spread or Strategy X_TRADER User Manual 239 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Created Outrights and X_TRADER The LIFFE exchange lets you create new outrights In other words you can create a new strike expiration Although X_TRADER supports spontaneous display of newly created outrights as they occur in real time you cannot create outrights in X_TRADER SFE Custom Market Strategies When creating a strategy for the Sydney Futures SFE a new strategy called Custom Market appears on the Create Strategy window As you add SFE contracts to the legs in your strategy a Price column appears You must add prices to each leg in the strategy prior to creating the strategy 240 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Creating a New Strategy gt To create a new spread 1 Right click the Market Grid to access the context menu and click Create Strategy or From the Control Panel click the Window menu and choose Create Strategy Or From the Control Panel click the icon The Create Strategy dialog box opens Click the down arrow in the middle of the window and select a strategy type Refer to the exchange specific System Admin Manual for strategy definitions In the top left section click the sign to open the exchange folders and select an instrument The instrument marks with a check and
62. TStop Trailing Stop TStop sets the Stop Price a fixed distance from the current market price and moves dynamically Note Each exchange determines their support of order restrictions The definition and use of the restriction may differ between exchanges and marketplaces If the order type is not supported the Audit Trail window displays an error message from the exchange Refer to each exchange s market rules for additional information Field Description Indicates the order is opening or closing a position or that the orders will be handled in a first in first out manner 174 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Field Description Account Type Sets your account types A1 First Agent Account e g broker A2 Euronext Products Customer Automatic Allocation A3 Euronext Products Customer Give up or System Allocation G1 Pre Designated Give up Trade G2 Designated Give up Trade Automatic Allocation G3 Give up System Allocation M1 First Market Maker Account M2 Second Market Maker Account M3 Market Maker Give up or System Allocation P1 First Principal Account e g proprietary trader P2 Second Principal Account SSSSGSS3x x P3 Euronext Products House Give up or System Allocation U1 Unallocated For orders that have not been allocated to a cus tomer account or where allocation is a middle back office function
63. Taking the Offer Using the Keyboard 287 Dime the Offer Using the Keyboard 288 Dime the Bid Using the Keyboard 288 Join the Bid Using the Keyboard cence emer da cece cece eee eee pe Saai aie 288 Join the Offer Using the Keyboard 00000 000222 assoanus usss eee eee ce Ossa usus 289 Combo Dime the Bid or Offer Using the Keyboard 289 Combo Join the Bid and Offer Using the Keyboard 289 Game Pad Control MD Trader 22 222 ce8 nee aaar a seals 02 0 55 128522 a Ra E aa aE ususi 290 OVRDE ROE VEE S60 ices LL 291 EXCHANGES ANDORDERTYPES ssi i iiss 292 ORDER RESTRICTIONDEFINITIONS ss s s i ti i 292 BEST LIMITS 00 Pod se lo ra cars CIs es ean aY EY P oie BN ei lente Tues ash d Sau A e 293 ICEBERG Py X me yc neater tect in Rate etn Ried Met ae sim e a lt 2 Y MIN a y astana 2 A a a Nae acti tes 294 CHaTACTETISEICSs amp 22 sapa es tae ys oh ya ga tees ete Lada sama nee uechua Si Same Neth ada puka s no 294 Deleting esia as a Bee Es LA ee cee 294 IELO t DTE Ii ek Caspa Ut Ye E St tie hoa iat a et cots alata a sei Meter ahua d eee ed ee 294 PROC CQUTC tee Mert nie No as Co aM tap e Ree A ead fas M
64. Tee SAUTE tern A S Mrewettzome 4 l 6 T SFO 5 tM 3429 D4 Reo OO CAS EXONS sisa a CCA DEB yy EO ABET ATMS OAS ST ioe ae w gt px Autospreader Japanese f Autotrader wAskPr wAskot Autotrader Japanese 24 X_TRADER User Manual Trading Technologies International Inc About This Manual Introduction to X_TRADER This documentation contains both general and specific information including procedures designed to aid you in getting started with the application This is not intended as a tutorial of every function and option available in X TRA DER nor will it substitute for the training you receive from your Trading Technologies representatives s Warning TT recommends you practice trading with TT products in a simulated environment before actually performing live trades Conventions This guide uses a set of terms symbols and typographic conventions to categorize specific information Familiarity with these conventions helps you use this guide more effectively This guide uses the following icon P A procedure that you should follow to complete a task This guide uses the following text conventions Convention Use ALL Indicates operating system commands and acronyms CAPITALS Courier Indicates examples and anything that you must type exactly as it appears For example if you are asked to type show version you would type all the characters shown in Courier
65. To cancel and replace an order Crip If you are simply decreasing the order quantity use the Change button This ensures the order does not lose its place in the queue 1 Select the order to cancel replace by clicking any cell in the appropriate row 2 Change the order information as necessary 3 Click the Cancel Replace button The original order s Status temporarily displays Replaced The Audit Trail receives the first of two messages reflecting the deleted order with a zero working quantity The second message details the new order information and the new order number You successfully canceled and replaced and order X_TRADER User Manual 335 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Modifying an Order with the Order Bar You can enable the Floating Order Entry on the context menu and use the Floating Order Entry to cancel replace an order When the Floating Order Entry window is the Order Bar you can use the keyboard to launch the Order Bar and modify your order gt To modify an order with the Order Bar 1 From the Control Panel click the Settings menu and choose Properties 2 On the Trading tab in the Floating Order Entry property click to select Order Bar 3 Right click the Order Book and click to select Floating Order Entry You can now call the Order Bar using the mouse or keyboard hotkeys 4 Navigate to the order you want to modify and press
66. Trader including maximum order quantity MD Display Set display options for MD Trader including EPIQ and volume at price Customize color specific options and features for MD Trader MD Enable and define the User Defined Price UDP column in MD Trader which Advanced allows you to trade in yield Quote Board Hide or Show fields for all the Quote Board windows Enable or disable displaying the exchange name Hotkeys Assign reset and remove hot key designations for the Order Bar MD Trader Quote Board and the Delete All Orders command Autospreader Customize properties for Autospreader orders and the Hedge Manager window X_TRADER User Manual 95 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Trading Tab The Trading tab sets trading properties to suit your trading style and environment The properties affect order entry in the Market window 96 Trading Dick trading Onder type Dime GTD Click GTO a O I0C ouoc Z Enable on FFNel NetPos Quantities Energy Cortracts EBS Aggregate O Flow O Net Implleds C Include Impbeds in Market columns and in Depth C Caculate Imelieds instead of Exchange Implied General Z Quoting C Hide new contracts Avoid orders that cross Show Admin Alerts Z Price reasonabiity Mandatcey for some Exchanges RFQ volume Maamum Depth levels 2 Market Grid Depth increment 5 a v
67. Warning Trading Technologies has tested gamepad functionality in connection with keyboard mapping using a product by Suncom Trading Technologies will not provide instructions on how to set up the gamepad with a keyboard nor does the company support users who do attempt to use this add on in their trading Traders wanting to use this functionality are encouraged to contact the gamepad manufacturer for specific instructions on how to connect this add on to their system X_TRADER User Manual Trading Technologies International Inc CHAPTER 8 Order Types Order types are different ways of telling X_TRADER how you want your order to interact with the market Depending on your trading background you might refer to order types as order restrictions or even time in force For clarity we categorize order types as follows aE Time in force Length of time your order works in the market Good til Day GTD Good til Cancel GTC Good til Date Date Good in Session GIS Market and Limit Standard order designations Market Limit Orders with a stop price Stop Trailing Stop Restrictions Nearly all other order types BLO IOC IT FOK OCO MOO MOC MLM MTL LOO LOC Eurex Block Orders Vola Orders Liffe Wholesale Order types used to place wholesale orders Block Basis Against Actuals Exchange For Swap Flex Options This chapter discusses order restrictions and stop orders You manage their availability on the Order Entry tab and M
68. X_TRADER you must perform the three step process to enable quoting Follow these procedures to manage quoting e Enabling Quoting e Editing Generating and Sending Quotes e Tracking Quotes e Activating or Deactivating a Strike or an Expiration e Activating or Deactivating multiple Strikes or Expirations e Deleting Mass or Individual Quotes e Disabling Quoting Chip Ifa pair of orders working in quoting mode are close enough and the price adjusts down the orders change without problem in a normal market If the price adjusts up the orders can fill against one another To help prevent this enable the Avoid orders that cross with each other property in the Trading tab on the Properties menu This should delete one of the orders before they cross Quoting Additions to the Market Grid Pane When you turn on the context menu s Quoting option the quoting bar appears and quoting columns add to your Market Grid D Test uctes Pubtuctes TickUp Q Maka The quoting bar has the following functions Field Description Sends mass quotes to market for all activated strikes expirations You can edit the test quote columns Manually edit a quote and click Send and the information goes in the test quote columns If you choose not to edit these columns click Send to generate a new quote that you need to confirm based on current market conditions Delete Deletes mass quotes sent to market Test quotes are still retai
69. You can change the launch key using the Hotkeys tab on the Properties menu You successfully displayed the Floating Order Book using the keyboard X_TRADER User Manual 343 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 gt To make a change to an order using the Floating Order Book 1 Ensure the Enable Floating Order Book option is selected in the Orders tab on the Properties menu 2 Depending on your property setting hover over or click a cell with a working order The Floating Order Book appears Dell Contract Qty Chg Price 64 JLIN06 10 7545 GTD as Limit 64 JUNOG 5 7544 GTD s Limit 19 54 46 000 3 In the Qty and Price fields left click to lower the value by one or right click to raise the value by one or In the Qty and Price fields type new values Note The Floating Order Book cancels your changes and closes if you click on another window i e remove focus 4 Click OK to submit the changed order You successfully made a change to an order using the Floating Order Book gt To sort orders using the Floating Order Book Note By default the orders are sorted in descending order by the Time Stamp column 1 Double click the column heading you want to sort the orders by The orders sort in ascending order based on the column you clicked Del Contract Oty gT Price y j Type Time Stamp ja MSA AROS 40 SEES Limit 14
70. You successfully set TradeSounds Continue to the next procedure to enable TradeSounds gt To enable TradeSounds 1 Right click MD Trader to access the context menu 2 Click to select TradeSounds You successfully enabled TradeSounds 130 X_TRADER User Manual Trading Technologies International Inc MD Display Tab Control Panel Overview Use the MD Display tab to customize the appearance of MD Trader Note When accessed via the context menu the Set as Global Default checkbox at the bottom of the tab applies these properties to all subsequently opened MD Trader windows MD Display Display C Tooltips 7 Clock Z Customer account name V High Low for the day V Average price of postion Hide position on right click C Highlight inside market Z Gray out when order server is unavailable Mouse hover highlighting C Keep MD Trader on top Small MD Trader v Hide btlebar buttons Bid Ask display Bid L QR Ask L V Bold text 7 Color code blank spots C Bid indicator column Ask indicator column Cl Volume at Price Format D gis for work ng exe Digits for price display C Set row height Price Consolidabon Prices per line Offset Slider control Recertering C Recenter on price column left double click Highlight midpoint of last recenter Global recenter Change Group 1 Automatic grid centering Delete buttons 7 Bid Ask Z Delet
71. a v Floaling Windows Orde Book Depth Window Middle click Mouse hover Floating Order Entry Order Bar C Multiple order entry windows C Join on Leit Click Market Gad Columns J Product name Detautt name A as name C Use Exchange contract names when applicable Opbons display O Cal Put Cal Put Price rounding options None O Apgressively A O Comservabvely Color C Market Depth by peice level C Net change C Net postion CILTP background 7 Top of book Highlight 7 Own orders V Minimum highlighting mode C Highight best peice C Test on change C Cell on hover V Bodes on change Highlight Border Width 1 lt Click Trading Mouse type Identifies the type of mouse you use The 3 button mouse is selected by default Itsupports dime trading with the middle button and click trading with the nght button The 2 button mouse requires the manual selection of dime or click trading The right mouse button is used to trade A Warning Some versions of the Microsoft Intellimouse driver are incompatible with X_ TRADER If the middle button of your Intellimouse cannot be used for click trading launch Add Remove Programs and remove the Intellimouse driver This disables the scrolling feature of the mouse but lets you click trade Order type Sets the default order type for dime and click trading Select GTD Good til Day or IOC Immediate or Cancel Enab
72. an order Seeds a 0 in the quantity field if an aggressive action is taken to invoke the Order Bar and the market quantity is greater than the maximum quantity defined in Customer Defaults Disabled by default Customer Description Defaults Customer Defaults Lets you customize the name and location of your Customer Defaults file Save the file on a shared network if you want to share it X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Customer Description Defaults Refer to Sharing your Customer Defaults Profile on page 92 for more information X_TRADER User Manual 105 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Fill Tab The Fill tab sets properties for the Fill window 7 Enable Fast Fils Average price display 7 Report stale Fast Fills Nearest tick After minutes 1 Decimal places Every mnutes 10 Color code buy sell C New fils color C Fills alert F Display strategy positions C Save manual fils Fils Pane Columns J Positbon Pane Columns Trade Book Columns Automatic data export Automaticaly export data upon X_TRADER shutdown Enable Fast Fills Enable Fast Fills Lets supporting exchanges provide partial trade information prior to sending a confirmed fill e g Eurex supports Report stale Fast Flashes a message reporting the existence of a stale fa
73. bar appears in the Floating Order Book e The Time Stamp column displays the exchange time e Ifan order enters an unknown state the entire order color is inverted and the Chg col umn is appended with a question mark Refer to Recognizing Orders in an Unknown State X_TRADER User Manual Trading Technologies International Inc Order Book Overview Using the Floating Order Book Note If you make a change in the floating order book the order is resubmitted To use the floating order book you must set the Enable Floating Order Book property in the Orders tab on the Properties menu Once enabled hover over or click on a product for which you have orders to display the Floating Order Book Alternatively you can display the Floating Order Book using the keyboard Follow these procedures to use the Floating Order Book e Displaying the floating order book using the keyboard e Making a change to an order using the Floating Order Book e Sorting orders in the Floating Order Book gt To display the Floating Order Book using the keyboard Note The keyboard shortcut to launch the Floating Order Book only works in the Market Grid L ee eo Ensure the Enable Floating Order Book option is selected in the Orders tab on the Properties menu In the Market Grid click the BidQty or AskQty for the product for which you have working orders Right click to open the context menu Press Esc Press F7 Note
74. below the market price e Ifthe market price rises the stop loss price rises by this amount e Ifthe market price falls the stop loss price remains the same Trailing Stop Buy A trailing stop market for a buy order sets the stop price at a fixed amount above the market price e Ifthe market price falls the stop loss price falls by this amount e Ifthe market price rises the stop loss price remains the same Trailing Stop Limit Orders Trailing Stop Limit orders work the same way but you define a limit price When the order triggers a limit order is submitted at the price you defined On the Eurex exchange the following distinction exists for Vola and Volatility trades e A Vola trade is an OTC trade separately agreed to by both parties and approved by Eurex This trade requires you to perform an options trade and hedge it with a futures trade This Vola trade is the order type available in the Market Grid e A Volatility strategy is an Options strategy you can create These strategies consist of Options spread and Futures and are referred to as Vola for short X_ TRADER does not support entering Block orders for these strategies X TRADER does support Block orders for Futures and Options X_TRADER User Manual 305 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 Order Types 306 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confide
75. can complete their side of the transaction gt To enter a block trade into the Eurex exchange Buyer initiated 1 In the Market Grid select the product you want to buy 2 In the Restriction field click Block The Sell button grays out 3 Type the five letter member ID of the counterparty in the Counterparty Information field 4 Click to select an account from the drop down list You cannot use the default account 5 Ensure your position is Open 6 Type the amount to be traded and price for the whole trade Note The minimum volume for block trades varies according to product 7 Click Buy to initiate the trade The above procedure results in the following actions e The block trade moves to the Order Book and gets a unique identifying number The status is Waiting for Approval e A message appears in the Audit Trail indicating the trade was sent to the exchange You successfully entered a block trade into the Eurex exchange Modifying a Eurex Block Order Trade Only the Buyer can modify a block trade order on the Eurex exchange A modification to a block trade change or price or quantity new counterparty etc is identical to any other order modification and is done from the Order Book window Notes e Block trades becomes inactive if the seller does not approve it within 30 minutes of entry or its last modification e The buyer can reactivate the transaction during the current trading day by retrieving and resubmitt
76. cation Posting Code Account posting code Account Optional field used for account numbers up to eight digits Name of the strategy leg optional with Strategies Quantity of the strategy leg to be traded optional with Strategies Price of the strategy leg to be traded optional with Strategies Optional But Descriptions tons Designates a block trade Market Maker Designates a cross order Guaranteed Designates a guaranteed cross order Refer to Euronext and Guaranteed Crossing Crossing on page 401 Asset Allo Designates an asset allocation Refer to Asset Allocation Methods on page 402 cation Prof Trade Designates a Prof Trade Refer to Entering Prof Trades on page 397 384 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Submitting a Block Trade Block trades are high volume trades in any outright or strategy product Block trading is not subject to normal X_TRADER credit risk limitations The trader submitting the order will be notified by the exchange if it is approved Note Wholesale orders appear in the Audit Trail window and the Total Traded Quantity column in the Market and Fill windows Wholesale orders do not appear in the Order Book window gt To submit a block trade 1 Oy gees tS Log into the appropriate exchange Open the Market Explorer and select a product Open a Market window for the selected product In the Market window
77. click Trading in MD Trader 267 yP best limit order BL 293 Opening I cross 212 a functional window 64 iceben 294 a functional window from market explorer 168 8 if touched 296 context sensitve help 43 market 297 fast fills pane 363 fll window 347 market on open 297 market to limit 299 keyboard entry window 222 a minimum volume 300 md trader 245 order cancels order 300 order book 327 Sto 303 order change dialog box 224 ae Hons 305 quote audit trail 234 8 Stop X_TRADER User Manual 451 Trading Technologies International Inc Proprietary and Confidential Information Index Orders Read only customer defaults Orders altering in the order book 333 canceling replacing in the order book 335 confirming status 184 deleting in order book 340 holding in the order book 337 quoting 229 remove stale from order book 332 status inquiries 332 Orders tab 109 P Pand L 357 P amp L 357 Passive orders 410 Pinning rows 204 Placing passive and aggressive orders 410 Plug ins 151 Populating a functional window 168 market grid 168 md trader 250 quote board 320 time and sales 373 windows with contracts 46 Position pane column descriptions 437 Position Pane 354 calculating profit and loss 357 context menu 356 grid summary 355 properties 106 Price Changing 182 Price Trend Indicators 197 Printing 62 Product Group adding 77 associating a product 80 changing settings 79 deleting 79 disassociating a product 81 field de
78. clicking in the Last Traded Quantity column Sets mouse button actions to immediately activate when the mouse is clicked not released Replaces an existing Buy or Sell order when you add a new one Note For Brokertec products the Leave order type overrides this property Changes quantity down with a left click and up with a right click Amount Sets how much a quantity changes with one click Trade Out Using LIMIT order ticks to skew Using MARKET order Lets you flatten your position Before MD Trader submits an offsetting order it sends delete requests for all working orders for that contract You need to send a second tradeout request if an existing working order fills Indicates the tradeout method is by Limit order Note This property does not guarantee your order will be executed because the market may move before you enter the order Determines how many ticks you will trade out to flatten your position Assigning a specific number of ticks to skew ensures your order once entered not necessarily executed is only a pre determined distance from the inside market When you click the TradeOut button you enter a Limit order based on the current price If the market moves and the offsetting price is not available your limit order remains working at the price you entered it Indicates the tradeout method is a Market order When enabled ticks to skew field grays When you click the TradeOut button a marke
79. contract in of contract name when logged the Quote Board into multiple exchanges Quote Board Rows Default Colors Quote Board Rows Select the default visible fields in the Quote Board window EBS Quote Board Display Net Position Displays your net position for each contract in the upper left corner of the EBS Quote Board Number of rows 1 9 Designates how many rows tall the entire window is Number of columns 1 9 Designates how many columns wide the entire window is Initial Contracts Lets you customize the spatial position of each currency pair on the window EBS Keypad Panel keys Sets the keypad key that brings focus to a contract in the window Restore Defaults Restores the rows columns and keypad keys to the factory defaults 142 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Hotkeys Tab The Hotkeys tab assigns resets and removes hotkey designations for functional screens such as MD Trader Note To use the hotkeys associated on this tab you have to enable hotkey components on other property tabs To enable hotkeys Enable this property 5 i for Order Bar Order Bar under the Floating order Trading tab entry field Floating Order Book Order Book Trading tab Keyboard Layout Custom v Reset Al Component Command Curent Hotkey Launch To Join i f MD Trader Launch To Join Ask Peka Launch To H Bid ae Launch To Take Offer SEE ae ee eer
80. customize MD Trader perform these procedures Adding Sound Adding Time and Sales Customizing the Default Quantity Buttons Managing Links Moving Grid Columns Resizing the MD Trader Grid Zooming In and Out Adding Sound to MD Trader If your computer is equipped with a sound card and speakers you can set MD Trader to make sounds There are two property windows that control the sounds you can use e The Sounds tab e The TradeSounds dialog box The Sounds tab controls what you hear when you left or right click These sounds are heard when you click on the following columns e Buy Side e Sell Side e Working Quantity e Last Traded Quantity Other sounds associated with X_TRADER are also set on the Sounds tab The TradeSounds dialog box controls what you hear when trade updates come from an exchange They are completely configurable and can be set for up to five quantity levels X_TRADER User Manual 273 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Adding Time and Sales You can add a time and sales pane to MD Trader to show the price quantity and time of the latest trades Initially when you add time and sales the pane is blank However as trades occur the pane begins to scroll like the Time and Sales window with the most recent trades at the top Note The time and sales pane is not available for display in Autospreader Follow these procedures to use time an
81. depth e Field 5 is the Outside Price in PIPs e Field 6 is the Outside amount Unchecked means you are viewing the basics e Field 5 is Dealable Regular Price in PIPs e Field 6 and the Dealable Best 1 in Field 7 do not appear Note If the checkbox does not appear the contract does not display depth 4 Big Figure Big figure EBS product prices display as PIPs with a Big Figure Example A EUR USD price of 1 4502 has a Big Figure of 1 45 and PIP of 02 5 Outside Dealable Description Regular The Depth checkbox in the upper right comer determines what appears in field 5 e Ifthe Depth checkbox is checked you are viewing depth and field 5 contains the Outside Price in PIPs e Ifthe Depth checkbox is not checked you are viewing the basics and field 5 is the Dealable Regular Price in PIPs X_TRADER User Manual 419 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 6 Outside Description Amount The Depth checkbox in the upper right comer determines what appears in field 6 e Ifthe Depth checkbox is checked you are viewing depth and field 6 is the Outside amount e Ifthe Depth checkbox is not checked you are viewing the basics and field 6 does not appear 7 Best Dealable Description Quantities Dealable Best amount is the top number Dealable Best 1 is the bottom number Note If the Depth checkbox is not checked you are viewing the basics and
82. dialog box displays available credit information in the primary currency and the margin account currency including Credit Limits Profit Loss and Contract Margin The X_ TRADER Administrator uses Guardian to select both currencies The primary currency is selected from the Currency Table Setup and the margin account currency is selected via the Guardian Trader Setup window r Available Credit Primary Credit Cur NONE Credit Limit NONE P amp L Contract Margin Recalculate Totals in green indicate a positive available balance totals in red indicate a deficit When the risk controls are enabled a zero or negative credit limit disallows trading gt To access the Available Credit dialog box 1 2 From the Control Panel click the Window menu and choose Available Credit Click Recalculate You must click Recalculate in order to display the current total This lets X_TRADER reserve processing power for high priority actions such as order processing You successfully accessed the Available Credit dialog box Synthetic Disclosed Quantity Orders Iceberg orders are disclosed quantity orders allowing the execution of a large order by splitting the order into smaller disclosed quantities When one disclosed quantity order is filled the next disclosed quantity order is sent until the entire order quantity is filled Characteristics of an Iceberg order include e Each disclosed order quantity is equal e You can set
83. drop e Populating a functional window for one product e Populating a functional window for multiple products gt To populate a functional window using drag and drop 1 Ifa functional window is not open use the Control Panel to open one 2 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon DN Du TP 5 Find the products you want to drag into the functional window From the Product Types box click to toggle between the displayed types Press and hold the crRr key and from the Products box click the products you want to open With the cursor over one of the selected products in the Products box click and hold the mouse but ton Continue holding the mouse button and move the mouse The cursor changes to a circle with a diagonal line through it 7 Continue holding the mouse button and drag the cursor to the open functional window 8 When the cursor turns into an arrow with a sign under it release the mouse button You successfully populated a functional window 168 X_TRADER User Manual Trading Technologies International Inc Market Explorer Overview gt To open a functional window for a single product 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange wh
84. e S Sensitivity spread ratio e D Delta neutral ratio Reference Identifies the underlying product order number selling buying code etc from the other exchange Clearing code Valid entries include 1 2 3 4 U for unassigned and A for allo cation Posting Code Account posting code Account Optional field used for account numbers up to eight digits Name of the strategy leg optional with Strategies Quantity of the strategy leg to be traded optional with Strategies Price of the strategy leg to be traded optional with Strategies X_TRADER User Manual 393 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Submitting an Exchange For Swap Trade Exchange for Swap is a strategy whereby a position in the underlying is traded for a futures position Exchange For Swap trading is not subject to normal X_TRADER credit risk limitations The trader submitting the order will be notified by the exchange if it is approved Note Wholesale orders appear in the Audit Trail window and the Total Traded Quantity column in the Market and Fill windows Wholesale orders do not appear in the Order Book window gt To submit an Exchange for Swap trade 1 OY D E gt tD Log into the appropriate exchange Open the Market Explorer and select a product Open a Market window for the selected product In the Market window click in the row containing the product
85. e TT on the Web Opens TT s home page e About X_TRADER Displays X TRADER version and copyright infor mation About X_TRADER X_TRADER User Manual 149 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Adding High and Low Alerts You can add specific sounds to a contract s high and low price thresholds using the Alerts Manager dialog box Whenever a contract trades above the high price threshold or below the low price threshold these sounds play Follow these procedures to use the Alerts Manager dialog box e Assigning sounds to a contract s high and low price threshold e Deleting sounds from a contract s high and low threshold gt To assign sounds to a contract s high and low price thresholds 1 From the Control Panel click the 9 Icon The Alerts Manager dialog box appears T Alerts Manager eCBOT A ZB DEC05 C ttisounds up way Populate the Alerts Manager dialog box with the contracts to which you want to assign sounds for price highs and lows In the Series column locate the contract for which you want to assign sound alerts 4 Double click the appropriate cell under the Soundfile for New LOW column 150 The Sound Explorer dialog box appears Locate the wav file you want to use as your low price threshold e By default the Sound Explorer opens to the location on your computer that stores your X TRADER sound files lt root drive
86. eee eNO Ss A de Oia 40 ORDER MESSAGES INTHEAUDITTRAIL U LLL 41 EXITING C TRADER zz Z A Shs oe ete PS ua nt ua da u to ae ai aaa Sana 42 A UTOMATIC SHUTDOWN OF X TRADER 42 USING CONTEXT S ENSITIVE HELP a o oo noes oh oe cohen ech oc BN AE es sal oe batun s 43 COMMON ADMINISTRATIVE TASKS u O aI aasssass ss s a s 45 POPULATING WINDOWS WITH CONTRACTS UU U J 46 USING THE TT MINIMIZER 2 48 PIDTERING O VERVIEW U Tm U LA SAO l Ot hy danaa A n oD tse A C Cy halen Aol stent UN ESS OT D 50 ANNE AEO OIV INE s EDA A D SERA ha oY Nene ee NS s BN eg A e ak ae 50 CLEARING A COLUMN EIDTER Q de it wench are cade cy A OEA 51 GCEEARING AUG FILTERS 2 C thy ate aa aqha aa ee wed be hime py ane ot A EENI S O Ong 51 SETIINGAUTO PIETERS Cpu ne oe Oe tt tr th 52 X_TRADER User Manual iii Trading Technologies International Inc Proprietary and Confidential Information Table of Contents Xx yxa aura wawaqa xm i i iii yuu gt purrFc Cu BRPE OPS OF PIETERS J seen au byt yh and din teu ee Nt wee Mab ya u aN a Nhe aa ak pea eee andes 53 FORMATTINGFONTS ss sss 53 CHANGING THEFONTSTYLE OCOL 54 CHANGING GLOBAL COLORS OF WINDOWS ORTEXT eee 54 CHANGING INDIVIDUAL COLORS OF GRIDSOR TEXT eee 55 FORMATTINGGRIDS 2 J L 57 SETTING THE DEFAULT VISIBLE COLUMNS s s s
87. emvbanat Senn laya ates td cereal ts dpewmeny Cotto sy dus 330 ORDER BOOK CONTEXTMENU ss ss i i i i i i i i i i 331 PERFORMING ORDER STATUS INQUIRIES s s s s i i ss LLL 332 REMOVING STALEORDERS ss ss s i ai i i i i i i i i it 332 ALTERING ORDERS INTHEORDERBOOK C Oh a aaaaaaaaaa LL 333 CHANGE ANORDER _ 2 334 CANCELING REPLACING ANORDER h C R LLL LLL 335 MODIFYING AN ORDER WITH THE ORDERBAR sss 336 CHANGING TRIGGER PRICE ORDERS a u D Su Ts S sa A A uU 337 USING THE HOLD FEATURE 337 UW SING UIE O BIIONS az www Sh tet rosea eth ce hens ss own Niner eee as sas yaaa 339 DELEGING AN ORDER Cees tebe sents tte A het Bf fhe AS Lyle Ruta ed ots Stat ignated ted eas 340 AFTER THE DELETE REQUEST ISSENT uu aaa 2 an S asa ss u augu 341 FLOATING ORDER BOOK OVERVIEW I 342 USING THE FLOATING ORDER BOOK 343 KEYBOARD TRADING IN THE FLOATING ORDER BOOK 345 ED Default Mapa u l cet choi ooo gu abu se oh obs holed secnadendes poles dospiuccn E 345 DESC PUN a ete ewes eek ets baci So ak ie Soe Sh oe ee OL 345 FILL WINDOW OVERVIEW 347 IMCANUAE IEE See b na A tet SSE E Foes et Ne Oe apa Oy Qa bai MyM ee ede L 3 ASS cel
88. field type the price of the contract You successfully submitted a FLEX options trade 396 Trading Technologies International Inc X_TRADER User Manual Entering Prof Trades Wholesale Trading Overview Prof Trades are pre negotiated trades between two parties that take place outside the central order book The Prof Trade is only a valid ex pit trade on the Amsterdam Market As of August 2008 no other exchange TT supports permits Prof Trades A single Prof Trade consists of two intentions e Initiator intention e Reactor intention Each party in the Prof Trade enters their intention separately The Prof Trade occurs when both counterparties enter matching intentions using the same password e Prof Trade Fields e Tradable Instruments Prof Trade Fields Package ID 12345678910 Initiator Reactor GB OSe Password pas Package ID Initiator or Reactor Buy or Sell Password Block Market Maker Cross Guatanteed Crossing O Asset Allocation Prot Trade The unique number that identifies your Prof Trade Identifies you as an initiator or a reactor in this trade Prof trade intentions submitted by Initiators can match with intentions submitted by Reactors or Initiators Prof trade intentions submitted by Reactors can only match with intentions submitted by Initiators Identifies this half trade as a Buy or Sell Identifies a match with the other half trade that is submitted sepa
89. format You can use this option in conjunction with other options like the Price for matting section to differentiate the price Decimal Displays the native prices formatted as their decimal equiv alent Ticks Displays each price as the equivalent number of ticks from the inside market 1 Price Displays the price as a decimal value divided by the dec imal equivalent of the price The Price formatting section further cus tomizes the price Note This property will create a user defined price column that is in ascending order rather than descending order You can use the Invert Price column setting to flip MD Trader so this column appears in descending order Net Change Net Change Displays the price of the contract minus the settlement price Display Type Defines how the price is formatted e Native e Ticks e Decimals Tick Offset Adds value to the Net Change price 999 to 999 ticks Display Price As Description Yield Display Price As Displays price as a percentage representing annual rate of return Mild Yield Type e No Conv The instrument price is in yield Conversion not necessary e 100 Price The yield is calculated by subtracting the instrument price from 100 Calculation for the Euribor 10000 Price 100 The yield is calculated by subtracting the instru ment price from 10000 and dividing the result by 100 Calculation for the Eurodollar 10000 Price Strip Base 100 Eurodollar S
90. gt tt sounds e Whenever this contract trades below the day s low price the sound plays Double click the sound file The file and its directory path appear in the cell Double click the appropriate cell under the Soundfile for New HIGH column The Sound Explorer dialog box appears Locate the sound file you want to use as your high price threshold Whenever this contract trades below the day s high price this sound is played Double click the sound file The file and its directory path appear in the cell X_TRADER User Manual Trading Technologies International Inc Control Panel Overview 10 To activate this setting so the sound is played when the threshold is crossed click to select the acti vation box Note This box is located directly to the left of the cell 11 Click the X on the title bar to close the Alerts Manager dialog box You successfully assigned sounds to a contract s high and low price thresholds gt To delete sound alerts l From the Control Panel click the 9 Icon The Alerts Manager dialog box appears t Alerts Manager Soundfile For Hew LOW Soundfile For Hew HIGH eCBOT A ZB DECOS C tttisounds down wav C itusoundsup way 2 In the Series column locate the contract for which you want to delete a sound association 3 In that contract s row click DEL The contract and its sound associations are removed from the Alerts Manager dialog box You successfully deleted sound alert
91. individual window s appearance Refer to Workspace Setup on page 68 Follow these procedures to format grids e Setting the Default Visible Columns e Hiding Rows or Columns e Restoring Hidden Rows or Columns e Moving Rows or Columns e Changing the Heights or Rows or the Widths of Columns Setting the Default Visible Columns Use the Properties menu to customize the default columns that display in a new Market Grid Fill pane Position pane Order Book Trade Book or Audit Trail Note You do not have to save your workspace to save these settings gt To set the default column selection 1 2 From the Control Panel click the Settings menu and choose Properties Select the tab related to the window whose columns you want to set Trading Fill Orders or Audit Trail Click the Columns button The Columns dialog box appears All checked columns are visible in a new window Click the boxes to select or de select the column 5 Click OK to exit and save You successfully set the default column selections X_TRADER User Manual 57 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Moving Rows or Columns Some windows let you customize the order in which rows and columns are displayed You do this by dragging and dropping the appropriate rows or columns where you want them to go gt To move rows or columns 1 Click the row or column heading to select the en
92. into an exchange e Logging in using the universal login e Changing your universal login password gt To login using the universal login 1 If X_TRADER is started go to step 2 or If X_TRADER is not started double click the icon Then at the TT Exchange Login dialog box click Close 2 Double click the z icon in the system tray The Guardian application appears 3 On the Guardian File menu click Universal Login The TT Login dialog box appears TT Login Your use of this software and related services and documentation is by a software licensing agreement For a copy of the agreement contact your administrator or email leqal tradinatechnologies com 4 Type your User Name and Password 5 To choose the exchanges to which you want to log in click the Options button 34 X_TRADER User Manual Trading Technologies International Inc Getting Started The TT Login Options dialog box appears A TT Login Options Select Exchanges Change Password 172 7 177 58 E cme 172 7 177 45 ecpot 172 7 177 44 E Eurex 172 7 177 42 I UFFE 6 Click the green boxes to select an exchange Note To unselect an exchange click in a green box that already contains a checkmark 7 Click OK 8 On the TT Login dialog box click OK You successfully logged in using the universal login gt To change your universal login password 1 Double click the a icon in the system tray The
93. is agreed to by buyer and seller Hedge Ratio One character that identifies the methodology used to determine the price for the underlying component Hedge Ratio Codes include e P Price factor or duration method e M Modified Duration method e S Sensitivity spread ratio e D Delta neutral ratio Identifies the underlying product order number selling buying code etc from the other exchange Clearing code Valid entries include 1 2 3 4 U for unassigned and A for allo cation Account posting code Optional field used for account numbers up to eight digits Name of the strategy leg optional with Strategies Quantity of the strategy leg to be traded optional with Strategies Price of the strategy leg to be traded optional with Strategies 390 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Submitting an Against Actuals Trade Against Actuals are strategies for commodities markets that incorporate a futures leg and an underlying commodity leg For Against Actual trades only the future leg is traded at the exchange The cash leg is traded on a separate exchange which may be executed through X_TRADER or another method Against Actual trading is not subject to normal X_TRADER credit risk limitations The trader submitting the order will be notified by the exchange if it is approved Note Wholesale orders appear in the Audit Trail window and the Total Tra
94. is for the Euronext exchange In both Account fields type the account numbers If you are sending this as a cross order click to select Market Maker Cross or Guaranteed Cross ing If not click to select Block In the Qty and Price columns enter the appropriate value for each strategy leg Click Send to submit the order You successfully traded using the Strategy window 400 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Euronext and Guaranteed Crossing Note Refer to Wholesale Trading Types on page 382 for more information on the exchanges that support wholesale trades Euronext products execute on the Paris and Brussels exchanges If you trade products on the Euronext Paris exchange the Guaranteed Crossing feature is available When you use this feature the order is sent as a cross order When the exchange accepts the order the two sides are guaranteed to match with one another and not a different order in the market Guaranteed Cross orders validate automatically gt To submitted a Guaranteed Crossing trade 1 a Os ee at Log into the Euronext exchange Open the Market Explorer and select a product Open a Market window for the selected product In the Market window click the row containing the product Right click in the row to access the context menu Highlight Wholesale Orders and click the appropriate wholesale trading type Note The following
95. keyboard trading If you press a key specified below MD Trader performs the related function If you press Then MD Trader A numeral key Enters the order quantity in the Order Quantity field Note This does not refer to the number keypad Loads your current position in the Order Quantity field The Spacebar Centers the grid The up arrow Scrolls the grid up The down arrow Scrolls the grid down The Page Up key Pages up You may no longer see available prices because it paged up too far The Page Down key Pages down You may no longer see available prices because it paged down too far X_TRADER User Manual 281 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Enabling Keyboard Trading in MD Trader Keyboard trading is disabled by default Notes e You do not need to enable the keyboard to perform some functions in MD Trader Refer to Unrestricted Keyboard Functions on page 281 e Fora map of MD Trader keyboard functions refer to Keyboard Trading in MD Trader on page 279 e You can change the hotkey associated with mapped keys Refer to Changing Hotkeys in MD Trader on page 283 Follow these procedures to enable keyboard trading e Enabling keyboard trading using the local context menu e Enabling keyboard trading from the global Properties menu gt To enable keyboard trading using the local context menu 1 Open MD Trader 2 Right click anywhere in MD Trade
96. keys 1 EUR USD 2 USDAPY 4 USD CAD 5 EUR CHF 6 USD CHF Restore Defaults EBS Keypad Panel keys on the Quote Board tab X_TRADER User Manual 421 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Hotkeys tab The Hotkeys tab lets you customize the keyboard shortcuts used for trading on the EBS Quote Board window Under the Order Bar component set the keys used to launch Buy and Sell windows Component Command Order Ba Launch To Join Bid JMD Trader Launch To Join Ask eae Launch To Hit Bid O Orders Launch To Take Offer Floating Order Book Launch To Modify Order C Order Pane Submit Order JEES Quote Board Close Order Ticket Set Focus On Quantity Set Focus On Price EBS Launch to Buy Regular EBS Launch to Sell Regular EBS Set Focus on Figure EBS commands in the Order Bar component Under the EBS Quote Board component set the key used to change the contract Component Command Order Bar JMD Trader C Orders C Floating Order Book C Order Pane Set Focus on Contract EBS Quote Board component on the Hotkeys tab MD Trading tab The MD Trading tab lets you set your mouse to seed the regularly traded quantity as designated by the EBS exchange when you right click a price Right click action in buy sell column Sweep w max Oty
97. mnemonic uniquely identifying the trader Account Account code for this trade Can be one of the following H House L Local S Segregated or N Non segregated Open Close Indicates whether this trade opens or closes a position International Security Identification Number Uniquely identifies a product Cash Pre Price for the underlying that is agreed to by buyer and seller Hedge Ratio One character that identifies the methodology used to determine the price for the underlying component Hedge Ratio Codes include e P Price factor or duration method e M Modified Duration method e S Sensitivity spread ratio e D Delta neutral ratio Reference Identifies the underlying product order number selling buying code etc from the other exchange Clearing code Valid entries include 1 2 3 4 U for unassigned and A for allo cation Posting Code Account posting code Account Optional field used for account numbers up to eight digits Name of the strategy leg optional with Strategies Quantity of the strategy leg to be traded optional with Strategies Price of the strategy leg to be traded optional with Strategies X_TRADER User Manual 387 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Submitting a Basis Trade Basis trades are strategies that incorporate a futures leg and an underlying cash leg Basis trading is not subject to normal X_TRADER c
98. most recent orders at the bottom of the price range Displays a selected order s data above the Cust field Customer Selection field Displays the current customer profiles in use The list contains all customer accounts for which the SEL box is selected in the Customer Defaults window Protects against inadvertent changes to working orders When you click the Change or Cancel Replace buttons a prompt appears to verify your change Deletes selected orders Confirmation messages appear in the Audit Trail Deletes all visible orders bids or asks Orders hidden due to filters do not delete X_TRADER User Manual 329 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Field or Button Removes an order from the market but stores it on the TT Gateway Held orders are stored in short term memory If the Gateway Order Server process goes down the held order information is lost Go To Market Grid Summary You can change cancel replace delete or resubmit held orders Until you click the Submit button the order remains held and out of the market The Hold button disables if you select a single row for a held order Submits held orders to the exchange When you submit a held order it receives a new order number The Audit Trail indicates if a submit fails Sends selected orders to the market for an immediate fill Market orders work differently on different exchanges
99. new order types and restrictions as well as the First In First Out FIFO order tag All of these settings can be set for specific customers on the Customer Defaults window See the order types below for explanations on their proper use on TOCOM e Best Limit on page 293 e If Touched on page 296 e Market on page 297 e Market to Limit on page 299 X_TRADER User Manual 435 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Trading Specialty Exchanges 436 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information Appendix Grid Column Descriptions This appendix contains the grid column descriptions for many windows in X_TRADER including the Order Book window the Trade Book window and the Fill window You can set the default columns that appear for each window using the Properties menu Window O O Property tab that sets default columns Order Book Orders tab Fills Pane Fill Window Position Pane Fill Window Trade Book Column Desorption C Wmow Account The back office account number or name as indicated in the Customer Default Order Book Trade Book Fills Pane The account type Order Book Trade Book Fills Pane Action Possible actions include Add A Change C Delete D Delete all your Order Book orders E Hold H Inquire D Update U Replace Cancel button R Resubmit to remove fr
100. normal exchange trading methods When you select Block from the Order Type field the Counterparty Information field automatically displays Fill or Kill FOK Fill or Kill FOK immediately fills the entire order or immediately cancels the entire order Iceberg Iceberg An order where only a portion of the order quantity is sent to the market at a time Each order quantity is equal Immediate or Cancel IOC Immediate or Cancel IOC immediately fills the order to the extent possible and cancels the balance Market On Close MOC Market on Close Sends Market orders dur ing the closing auction of the current business day Market On Open Order MOO Market On Open MOO sends Mar ket orders during the pre opening period intended for execution at the opening market price Minimum Volume MV Minimum Volume MV sets the minimum order quantity that must be available in the market If the quantity is not met the entire order cancels You cannot send MV orders with a minimum volume quantity greater than the order quantity to market Stop Stop order The Stop Pre fields appear letting you set the price that triggers the order Stop orders can be Limit or Market orders X_ TRADER supports Stop orders on all exchanges A stop order displays in the Order Book with a Pending Trigger status indicating it is not actually in the market When the stop triggers the order becomes the native order type and remains in the Order Book until it fills
101. number in the Min column next to the product for which you want to set a quantity 4 Click OK You successfully filtered on quantity for specific contracts Saving Time and Sales Information The Time and Sales window automatically saves trading data for all products populated in its window while it is open e g if the application is open for only four hours only four hours of data will be automatically saved Chip All information stores in a file called TAS Data_YYYYMMDD_000001 csv in the directory lt root drive gt tt datfiles tsdata Where 000001 stands for the Time and Sales session opened on YYYYMMDD the Year Month and Day Use the Time and Sales tab in the Properties menu to customize the maximum file size and number of days to save Time and Sales files e The maximum size of the saved data file is 250 MB e The maximum number of days to save files is 5 days 378 X_TRADER User Manual Trading Technologies International Inc Time and Sales Overview Time and Sales Properties Tab The Time and Sales tab in the Properties menu is used to set the following file saving characteristics e Maximum File Size If the amount of data exceeds the configured limit during any time period the Time and Sales window continues to update but the data will not be saved to the file The maximum size for the data file is 250 MB e Number of days to save file Historical data files are saved once per day The maximum num
102. number of Lots for the given position Used for Energy products Position Pane traded on the ICE exchange The low price for the day Position Pane NetPos Indicates the position at the start of the day plus the difference between what Position Pane you bought and sold Open or Close in reference to your position Order Book In the Fill window Trade Book Fills Pane e S A Start of Day fill Refer to Start of Day Fills on page 353 e M Manual Fill from your workstation e A Manual Fill from X_RISK The opening price Position Pane Your open profit and loss Refer to Calculating Profit and Loss on page Position Pane 357 Ord Date The date the order was placed at your workstation Trade Book Fills Pane Ord Time The time the order was processed according to your workstation Trade Book Fills Pane Order No The order number assigned by the exchange Order Book Trade Book Fills Pane Designates whether the order was filled passively or aggressively This Trade Book notation allows for a correct P L calculation Fills Pane Your Profit and Loss Refer to Calculating Profit and Loss on page 357 Position Pane The order partially filled Trade Book Example 5 contracts from a 10 lot order filled Fills Pane Not all exchanges provide partial fill indicators Example Xetra does not provide partial fill indicators X_TRADER User Manual 439 Trading Technologies International Inc Proprietary and Confidential I
103. o als deaeha a a ccs dosoanit cbc Wa pbbkazs senna Ski oe a amk Easy Zh 101 ORDER ENTRY TAB a ve L nasacort a a as asson natant doce asss a ala as sc gee yes 102 PULA as caer ana Ses OV NY hy Lome a a ana EE ou 106 ORDERS LAB SS S sy pice whieh dh cena tlh ctl ERINE D nce Pact kook E s tts casu tasca ta Mae teh as td pet AS 109 POEL TAMAR U a oo tapes Soe U 1 eons db BL aoe IIIa sS SS bes 111 SOUNDS PA Bist aae scence qyacenon 2 oceans na scner aac cmonenhensceeda ath connate asses tne 113 SUG RESIOMG ee Nt hr a te OOP a ah IE C ERAN Moth lt BEES L OR SD ORC SUA EGA e e Qua ao 114 Contract High and Low Sounds 114 AddinganEventSouind 2 l 22222 ha tilde desea seoesces nek Le dsageensisescsseaoniees secabters vos 115 Changing or Removing an Event Sound 115 G OPOR TA gt renda Ia val Wwe NW Sau a Pat Se tas eget ELEN ie hte ARPA UAE tes scant PORE RAS RAY wu s 116 CHANGING GLOBAL COLORS OF WINDOWS OR TEXT 119 SPREBAD M ATRISCTAB 2 I Fn U Pui ws ene A A S SS Saka ts Wid ASS utes cei 121 Example Spread Matrix Outright Price Display 123 TPIME AND SSATESTPAB SR Oe A t CC On OT oR Cee RN sua su aa TA 124 MD IRADINGTABS ox uya aa va tie Sng Meta dU stn tel bier ee BE delle an spa pica et pte ty 125 Manama TradeSounds o G s Za 20d nine seso
104. of the trade initiated by the buyer Note This information must be obtained from the Buyer 5 In the Exchange field click the Eurex exchange on which the order was submitted 6 In the Product Type field click whether the order type 7 Click Inquire You successfully made a block or volatility order inquiry X_TRADER User Manual 221 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Entering Orders Using the Keyboard If you prefer you can trade with the keyboard using either the Keyboard Entry or the Buy and Sell hotkeys CME 6E Jun09 13538 0 lt Defaut gt v lt None gt v Open v GID w Limit v 1 5 10 A A 2x135380 6EJun09 Insert E 100 500 2 135380 lt None gt s Open Cross wi CHok Cross 1 C Contin lt Defaul gt 6565 F2 Buy andF11 Sell hotkeysc Keyboard Entry Keyboard entry adds onto the top of the Market window when called gt To open the Keyboard Entry and send an order to market 1 Click any Market Grid cell of the product you wish to trade 2 Press the insert Buy order or PageUp Sell order key The Keyboard Entry window appears at the top of the Order Entry pane 3 In the first field type the quantity to buy or sell Note tab moves the cursor left to right snift Tab moves the cursor right to left In the second field type the price to buy or sell at Click the down arrow and select
105. once save the workspace under a new name and will not have to change the workspace you use for trading Notes e You must have installed a printer usually a shared network printer on your work station for you to print e The Print Setup dialog box does not save your printing preferences e Not all windows contain Print or Print Preview buttons Follow these procedures to print e Previewing a window grid e Printing a window grid gt To preview a window grid 1 Click a grid to make it active 2 Click the Print Preview button The print preview appears 3 Review the screen as needed 4 Click Print to print the screen or Click Close to cancel the print You successfully print previewed a window grid gt To print a window grid 1 Click a grid to make it active 2 Click the Print button The Print dialog box displays if you have printer services installed through Windows You can click a printer print range and number of copies or you can print to a file Additional print settings are available by choosing the Properties button located to the right of the Printer Name list The additional print settings include such items as paper size orientation and reduction 3 Select your print options and click OK to print You successfully printed a window grid 62 X_TRADER User Manual Trading Technologies International Inc CHAPTER 3 Control Panel Overview The Control Panel appears after you star
106. open With the cursor over one of the selected products in the Instruments box click and hold the mouse button Continue holding the mouse button and drag the cursor to the open Time and Sales window When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a window it changes to include a plus sign Release the mouse button The name of the product appears displaying its associated information Exchange Price Quantity and Time In addition the lower left corner of the Time and Sales window describes the status of the drag and drop Added contract information You successfully populated the Time and Sales window using drag and drop from the Market Explorer gt To populate the Time and Sales window using drag and drop from the Market Grid 1 2 3 4 If the Time and Sales window is not open use the Control Panel to open it From an open Market Grid click the selected product and hold the mouse button Continue holding the mouse button and drag the cursor to the open Time and Sales window When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a window it changes to include a plus sign Release the mouse button The name of the product appears displaying its associated information Exchange Price Quantity and Time In addition the lower left corner of the Time and Sales window describe
107. or Kill FOK Immediately fills the entire order or immediately cancels the entire order Iceberg Sends only a portion of the order quantity to the market at a time Each order quan tity is equal When one portion fills the next portion is sent until the entire order quantity fills If Touched IT If Touched IT orders enter the market a set number of ticks away from the inside market and are activated only after the market touches its price level Immediate or Cancel IOC Immediately fills the order to the extent possible and cancels the balance Limit on Close LOC Sends Limit orders during the closing auction of the current business day Any portion not filled at the close cancels Currently available on TSE and OSE Limit on Open LOO Sets limit orders that only execute at the open Any portion not filled at the open cancels Currently available on TSE and OSE Limit to Market LTM Sends Limit orders where any unfilled portion converts to a market order at the close Currently available on TSE and OSE Market Limit Market MLM MLM sets a buy order placed above the best offer to fill by the best offer and a sell order placed below the best bid to fill by the best bid Market On Close MOC Sends Market orders during the closing auction of the current business day Orders can be entered at any time during the trading day Market on Open MOO Sends Market orders during the pre opening period intended for execution at the ope
108. page 94 Note Customer Defaults can be set by an administrator using TT User Setup If you cannot _ change your Customer Defaults an administrator may need to make changes for you Refer to TTUS Integration with Customer Defaults on page 86 gt To change a customer profile 1 From the Control Panel click the Settings menu and choose Customer Defaults The Customer Defaults dialog box appears 2 Change the customer profile information in the Customer Defaults dialog box Note The first profile has a customer name of lt Default gt and cannot be changed lt 3 When changing data on the Customer Defaults dialog box make sure you press TAB or ENTER to advance to the next field This saves your changes 4 Close the Customer Defaults dialog box You successfully changed the information in a Customer Defaults profile Deleting a Customer Defaults Profile gt To delete a customer profile 1 From the Control Panel click the Settings menu and choose Customer Defaults The Customer Defaults dialog box appears 2 Right click a row to delete and click Delete Row s You successfully deleted a Customer Defaults profile 90 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Setting Customer Defaults to Read Only To avoid making changes to your Customer Defaults profile make the Customer Defaults file read only While in read only mode the Customer Defaults file is i
109. quote is generated Therefore to generate quotes each product must be associated with one and only one product group Refer to Associating a Product to a Product Group on page 80 for more information You successfully set up the quoting features X_TRADER User Manual 231 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 gt Procedure 2 To enable quoting as a feature Quoting preferences must first be created See Procedure 1 above 1 From the Control Panel click the Settings menu and choose Properties The Properties dialog box opens with the Trading tab displayed by default 2 Click to select the Quoting box to enable quoting A checkmark indicates that quoting is enabled for all Market windows You successfully enabled quoting as a feature Continue to the next procedure to turn quoting on gt Procedure 3 To turn on quoting for a single window Quoting must first be enabled See Procedure 2 above 1 Right click anywhere in the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 2 Highlight Quoting and click Show The quoting bar is added between the Order Entry pane and the Market Grid and new columns appear in the Market Grid E aos Pano res Qan QAct BOO BOP Quote AOP AQQ OCTOS maros Alternatively click Show Hide columns and click RFQ An d button _ after the Del Srs column for every
110. same Receipt of the confirmed fill causes an out of synch occurrence If you think that the fast fill position reflects errant or erroneous fast fills use the Remove Fast Fills From Position option on the Position pane context menu to resynchronize the fast fill position with the confirm fill position Fast Fills Pane Context Menu Right click the Fast Fill pane to access the context menu The available menu options include e Find Control Panel Displays the Control Panel Find Control Panel e Scrolling Causes the window to jump to a new entry Ena bled by default e Close Closes the Fast Fill pane Scrolling Close 364 X_TRADER User Manual Trading Technologies International Inc CHAPTER 13 Trade Book Overview The Trade Book window presents summary and detailed aggregate fill information for your orders r s TT_TradeBook 1 Eenes Fmedoty AvaPre Product Contra Accounts Exch Time Order No ExchDate Ord Time lt E et E ES G S eee B001EY 1 9571 5 GE MAROS ps001003 18 22 06 000 104005 1322 05 18 9571 5 GE summary pan 18 23 48 000 104005 1323 48 73 9571 0 GE Seal 18 23 55 000 104005 1323 55 81 48 24 08 000 104005 1324 08 32 18 47 29 000 104005 1347 29 95 18 47 29 000 104005 1347 19 07 18 57 14 000 101005 1317 1318 18 59 00 000 104005 Partial Fill Pa 19 06 30 000 104005 rtiz Ee p waar s s ce a rum RRR RR R R RIDA A uoo ua u ojojo Qn D
111. successfully set the default quantity X_TRADER User Manual 183 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Closing the Order Entry Pane gt To close the Order Entry pane 1 Right click the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 2 Highlight Order Entry and click to de select Attached You successfully closed the Order Entry pane Confirming the Status of Market Orders Confirm the status of your orders using the following windows e Audit Trail The Audit Trail window confirms the status of your submitted order Comprehensive trade information is provided to confirm receipt of order requests by the exchange and all details about the order itself ERR indicates that an error has occurred e Order Book A working order displays in the Order Book When the guaranteed fill information is received from the exchange the order is removed from the Order Book and moved to the Fill window Partially filled orders remain in the Order Book until they are completely filled Fill window Filled and partially filled orders display in the Fill window The Position pane updates your P L 184 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Establishing Available Credit If your trading environment uses the Guardian Risk Management tool the Available Credit
112. text Position Flat Black text Position Long Blue text Position Short Red text Price Data Negative Red text Price Data Positive Green text Price Data Unchanged Black text Quote Board Default Colors Background Non Selected Pane Background Selected Pane Border Selected Pane Maroon Dealable Best Ask Dealable Best Bid EBS Best Ask EBS Best Bid Position Long Blue background Position Short Red background Regular Outside Ask Regular Outside Bid Threshold Exceeded Qty Black text Working Buys Blue text on white background Working Sells Red text on white background Time and Sales Default Colors Blue text Tan background Indeterminate Black text Tan background Black text Yellow background X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Time and Sales Default Colors Red text Tan background Trade Book Default Colors Partial Buy Background Yellow Partial Sell Background Yellow Changing Global Colors of Windows or Text You can change many of the colors used in X_TRADER The two property tabs that house the color options are the Color tab and the MD Color tab Follow these procedures to change the color of a window or text e Use a standard color for a window or text e Create and use a custom color for a window or text gt To use a standard color for a window or text 1 From the Control Panel click the Settings menu and choose Properties
113. the Dealable Best 1 does not appear s EBS Ben 22 23 EBS Best Bid and Best Offer in PIPs 9 Dealable Best 2 2 2 3 Dealable Best in PIPs 10 Working Orders The total quantity of your working bids and offers Customizing the EBS Quote Board Properties for customizing the EBS Quote Board can be found in the following tabs on the Properties menu e Quote Board tab e Hotkeys tab e MD Trading tab e Color tab 420 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Quote Board tab The Quote Board tab lets you customize the number of rows and columns in the EBS Quote Board window You can also disable the net position field which when enabled appears in the upper left corner on the EBS trading pane Alternatively you can right click the net postion field in the EBS Quote Board window to hide and show it EBS Quote Board Display Net Position Number of rows 1 9 Number of columns 1 9 EBS Quote Board section on the Quote Board tab The Initial Contracts button displays the Defaults Contracts window where you decide the spatial position of each contract Default Contracts EURUSD USDAIPY ALIDAISD EUR JPY USD CAD GBP JPY EUR CHF USD CHF GBP USD EUR GBP Default Contracts set to 4 rows and 3 columns The EBS Keypad Panel keys section sets a number on the EBS Keypad to bringsfocus to a contract in the EBS Quote Board window EBS Keypad Panel
114. the Give Up column you must specify the account by completing the following two steps e Type sx as the first two letters e Type the clearing firm number This is a number between and 3 digits Example You set the Give Up column to SX 23 where 123 is the mutual offset for Eurodollars Close the Customer Defaults dialog box Open a Market window with the instrument you want to trade In the lt Default gt field select the MOS customer from the list Add or change any necessary information e g quantity price order type time in force e E ON i To execute click Buy or Sell You successfully submitted a Mutual Offset order X_TRADER User Manual 181 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Using the Mouse to Control Order Quantity and Price Most users will use the keyboard or the spin buttons to enter order quantity and price However you may also use the mouse to increase or decrease order quantity gt To change the order quantity or price using the mouse 1 Click to select a Market Grid cell to populate the Order Entry pane 2 Click in either the Order Quantity or Price fields shown above 3 Right click to increase the numeric value or Left click to decrease the numeric value You successfully changed the order quantity or price using the mouse Customizing the Quantity Buttons You can customize the quantity buttons on the Order Entr
115. the disclosed quantity as a number or as a percentage of the order The exception is MD Trader You may only set the disclosed quantity as a number not as a percentage Using the disclosed quantity order type on an exchange that does not support them can result in a time lag that may cause your disclosed quantity trade to be traded through This is because each order is sent to the exchange for just the disclosed quantity As soon as it fills another order submits The time between these actions could cause a delay and a missed opportunity Note Synthetic orders are not supported by all exchanges For a list of supported order types refer to the SAM specific to the TT Gateway on which you trade X_TRADER User Manual 185 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Market Grid Pane Overview Note Some functionality in the Market Grid is protected by U S Patent Number 6 938 011 The Market Grid is the bottom half of the Market window This is where you monitor and select real time contract information for trading You complete trades using the Order Entry pane on the top half of the Market window Use the Market Grid to perform these procedures e Customizing the Market Grid columns e Displaying contract and real time price information for the products you select Refer to Mar ket Explorer Overview on page 163 e Using Tabbed Windows e Highlighting in the Market Gri
116. these announcements refer to Customizing Exchange Announcements on page 160 Gateway Alerts Gateway alerts display information concerning the status of server host processes Error Messages Error messages display when the TT Gateway rejects a buy sell change cancel replace or delete order X_TRADER User Manual 159 Trading Technologies International Inc Proprietary and Confidential Information Chapter 4 e The first line details the order information including a status of ERR to indicate that the order was rejected and not sent to the exchange host e The second line immediately follows the first and reflects a status of ERRS A message Msg column explains the error Customizing Exchange Announcements gt To 1 Oy Oe 5 o The Audit Trail window displays all announcements released by the exchanges including host activity busted trades and pre post opening closing product activity Each announcement details the e Time issued exchange time e Time received local time e Exchange name e Severity e Announcement text Grip If you are using Audit Trail filters open two Audit Trail windows to ensure receipt of all exchange and gateway announcements Use one Audit Trail window to display order related data with the desired filters Set the Status column filter for the second Audit Trail window to capture alerts ALERT and general information INFO Follow these procedures to customize how you r
117. to 4 digits pre cision Must be specified if yield is being calculated for a future Settlement date The date the contract settles Must be less than the maturity date and greater than today Day count type The convention used for counting the days between two dates Where the values mean Actual The real number of days between two dates Leap year counts for 366 days 360 The year has 360 days 365 The year has 365 days 30 If the second date falls on the 31st of the month it is changed to the 30th only if the first date falls on the 30th or 31st 30E If the second date falls on the 31st of the month it is always changed to the 30th Coupon frequency Number of coupons per year Annual Semi Annual Quarterly Monthly End of month convention Determines whether coupon payments always occur on the last day of the month if the settlement date falls on the last day of the month Optional settings First coupon date The first real coupon date Must be less than the maturity date and be a valid coupon date Must be specified if the bond has an odd first coupon period and the settlement date falls within this odd first coupon period 140 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Dated date The date upon which interest accrual begins Must be less than the first coupon date Must be specified if the bond has an odd first coupon period and the settlemen
118. to Limit MTL orders send a Market order with the condition that on a partial fill the remaining quantity rests as a Limit order at the price that was just hit or taken Available on TOCOM and SGX Example Given the following market e Ifa 15 lot MTL is entered on the Buy side it fills 13 613 45 The remaining 2 lot rests as a Limit order 613 45 e Ifa 15 lot MTL is entered on the Sell side it fills 11 613 44 The remaining 4 lot rests as a Limit order 613 44 You can submit MTL orders through the Market Grid or MD Trader In addition MTL orders can be sent in combination with the following order types and with a specific Time in Force Order Type combination WD Trader maretia MTL GTD MTL GTC MTL GTDate MTL FOK MTL IOC MTL IT GTC MTL IT GTD MTL IT GTDate Stop MTL GTD Stop MTL GTC Stop MTL GTDate Note SGX also includes MTL MOO and MTL MOC PMTL GTD S e b y O Mor S a o PMTL GTDate o e b MTLFOK o a o O Mro S b b O Mor x MT o d b MTLAT GTDate x So TGT o d SopMTLGTC x Stop MTL GTDate _ P X_TRADER User Manual 299 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 Minimum Volume A Minimum Volume MV order sets the minimum acceptable order quantity to be met or the entire order cancels Example Y ou want to trade 100 lots with a minimum volume of 25 lots If at least 25 lots cannot be executed
119. type and product supported by the exchange The currency used in the trade Example USD United States Dollar Buy or Sell in reference to an order The quantity filled in the order The price at which the quantity fills The back office account number or name as indicated in the Customer Default profile Sends the manual trade to the Fills pane Note This button enables after you complete all mandatory fields Lets you ensure the fill is correct before adding it to the Fills pane Closes the Add Manual Fill dialog box Shows the state of the dialog box including when the manual fill is added to the Fills pane gt To add a manual fill to the Fills pane Note In order to save a manual fill you must enable the Save Manual Fills option on the Fill tab in the Properties menu 1 From the Control Panel click the Window menu and choose Fill Window Or From the Control Panel click the icon 2 In the Fills pane right click an open area and choose Add Manual Fill 360 X_TRADER User Manual Trading Technologies International Inc Fill Window Overview The Add Manual Fill dialog box appears Add Manual Fill Exchange Product Product Type CME 4 z 64 FUTURE T Expiration Currency 64 MAROS X USD Action Quantity Price Account Buy gt 10 120225 Lock T OK Notes e Place your cursor on a specific fill in the Fills pane to pre populate the Add Manual Fill dialog bo
120. type of product or strategy you trade If the product is a strategy the associated legs for that strategy are listed in a set of fields in the lower half of the Exchange For Swap window The Quantity and Price fields must be filled for each leg of the strategy in order for the trade to be accepted General Descriptions Fields Name and identification of the contract series This fills with the product infor mation in the Market window Maturity month of the contract This fills with the product information in the Mar ket window Auto Market Reference unique exchange specific product identifier This fills with the product information in the Market window Price of the product Quantity Quantity of the product to be traded Transaction A code uniquely identifying the trade Code Buyer Descriptions Seller Fields Trader An exchange mnemonic uniquely identifying the trader Account Account code for this trade Can be one of the following H House L Local S Segregated or N Non segregated Open Close Indicates whether this trade opens or closes a position International Security Identification Number Uniquely identifies a given product Cash Pre Price for the underlying that is agreed to by buyer and seller Hedge Ratio One character that identifies the methodology used to determine the price for the underlying component Hedge Ratio Codes include e P Price factor or duration method e M Modified Duration method
121. using the Confirm Fill s option on the context menu The confirmed trader ID The month and year of expiration for the contract or spread In the Fill Window Position pane the spread positions are for display purposes and do NOT affect risk calculations Risk calculates using the spread s legs The currency used in the trade Example USD United States Dollar Deletes a single line order The exchange on which the order was placed or filled The date the trading host received sent the message Risk manager direct user s trader ID Example Broker s Group ID PROD Exchange member ID The time at which a fill is received by the exchange host or exchange gateway depending on the practice of the exchange The time may be shown in the time zone where the exchange is located Risk manager direct user s trader ID Example Broker s Trade ID 001 The executed quantity of the order The expiration month and year formatted as DDMMMYY Example 31 Dec09 Associated fee The fast fills net quantity FF Buys FF Sells Refer to the Fast Fills Pane Overview on page 363 for details Free Form Text Field 2 and 3 Values for annotation purposes by you or back office sub account Trade Book Fills Pane Trade Book Fills Pane Trade Book Fills Pane Trade Book Fills Pane Trade Book Fills Pane Order Book Trade Book Fills Pane Trade Book Fills Pane Order Book Order Book Trade Book Fill Wi
122. value into the indicator columns in MD Trader This can help you make buy and sell decisions Links are retained if you hide the indicator columns They also save with your workspaces Grip Shade your cell in Excel so you can better see the results in MD Trader This is very useful when using the laser line feature Follow these procedures to manage links in MD Trader e Displaying the indicator columns e Pasting a link from Excel into MD Trader e Deleting a link from MD Trader gt To display the indicator columns 1 2 3 4 5 Right click MD Trader to open the context menu and click Properties Click the MD Display tab In the Bid Ask display section click to select Bid indicator column and Ask indicator column To set for all subsequently opened MD Trader windows click to select Set as Global Default Click OK You successfully displayed the Indicator columns gt To paste a link from Excel into MD Trader 1 2 3 In Excel right click the cell you wish to copy Click Copy Right click in MD Trader to access the context menu The context menu appears Click Paste Link An indicator appears opposite the price level of the pasted value You successfully pasted a link from Excel into MD Trader gt To delete a link from MD Trader 1 2 Right click in MD Trader to access the context menu Click Delete Link The indicator Is removed You successfully deleted a link from MD Trader 276
123. values ticking down X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Trading EBS EBS is an electronic marketplace specializing in the trading of precious metals and spot foreign exchange currency pairs including Non Deliverable Forwards NDFs X_TRADER supports the trading of all these products EBS groups foreign exchange currency into two product types e Forex e NDFs Forex Forex contracts include precious metals and commonly traded currency pairs like Euro to U S Dollar EUR USD and U S Dollar to Japanese Yen USD JPY EBS offers depth of book on the most popular currency pairs Currency Pairs Contract Currency Pairs Contract Australian Dollar U S Dollar Pound Sterling U S Dollar Euro Swiss Franc U S Dollar Canadian Dollar Euro Pound Sterling U S Dollar Swiss Franc Euro Japanese Yen U S Dollar Japanese Yen Euro U S Dollar EBS Depth of Book Currency Pairs For a list of currency pairs available with no viewable depth see the EBS Gatway SAM NDFs NDFs contracts allow trading of currencies with restricted convertiblity Normally established as short term contracts typically up to two years NDFs represent the difference between an agreed upon exchange rate and the prevailing market exchange rate at the settlement date NDFs normally quote and settle in United States Dollars USD EBS offers the following currencies as Non Deliverable Forwards NDFs Cu
124. you add account numbers for a finite amount of time after your order is filled X_TRADER User Manual 433 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Adding an Account Number SFE lets you add account numbers for a finite amount of time after your order is filled This information goes back to the SFE exchange provided you add the account number in the amount of time allotted by SFE You can add account numbers to filled orders on the Fill window Fill Window oa eee DENR Time 11 30 03 67 79 060 SFER pra qi 16 33 47 000 3123546 0206 08 41 30 0367 tiuo06220 nzeadaad 163847 000 3123646 020600 1413300367 gt To add an account number 1 From the Control Panel click the Window menu and choose Fill Window Or From the Control Panel click the LI icon 2 Click in the Account column next to the fill whose account number you want to change 3 Type the account number 4 Press Enter You successfully added an account number 434 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Trading TOCOM The Tokyo Commodity Exchange was established in 1984 by a merger of the Tokyo Textile Rubber and Gold Exchanges It is Japan s largest commodity futures exchange specializing in precious metals oil rubber and aluminum To support trading on TOCOM X_TRADER introduces several
125. you execute trades outside of X_TRADER you can manage those trade using the Add Manual Fill dialog box Adding trades in this manner lets X_TRADER calculate your true position and P L profit loss Note Manual fills affect only the position and P L data X_TRADER does not provide manual fill information to the middle or back office z Add Manual Fill Exchange Product Product Type CME 4 s 64 ha FUTURE ba Expiration Currency 64 MAROS x USD Action Quantity Price Account Buy w 10 120225 Lock OK Follow these procedures to manage manual fills e Adding a Manual Fill e Deleting a Manual Fill e Saving a Manual Fill gt To access the Add Manual Fill dialog box Right click the Fills window and click Add Manual Fill You successfully accessed the Add Manual Fill dialog box X_TRADER User Manual 359 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 Add Manual Fills Dialog Box Field Descriptions The fields in the Market Explorer window include Field Description Product Type Expiration Status Bar Adding a Manual Fill The exchange on which the order was filled Note You must be logged onto the exchange before you can select an exchange here The traded product s exchange symbol Example FGBL ODA X The type of product in the order Example Future Future Spread Option The instruments of the selected product
126. your Keyboard Layout to EBS Default Read Only Move to the next EBS contract pane Normal keyboard behavior in the Order Bar Set Focus on Price in the Order Bar Page Up Page Down Page Up Move to top of current column Page Down Move to bottom of current column Close Order Bar Launch to Hit Bid seed with Best Dealable Bid Launch to Join Bid seed with Best Dealable Bid Launch to Join Ask seed with Best Dealable Offer Launch to Take Offer seed with Best Dealable Offer Submit order same as click Buy Sell on the Order Bar Numeric Jump to set EBS contract pane Refer to Quote Board Tab on page 142 Otherwise normal numeric key behavior Minus Delete Backspace Normal keyboard behavior Ctrl F5 Launch to Sell Regular Ctrl F8 Launch to Buy Regular Set focus on Contract Set focus on Big Figure in Order Bar 418 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Reading the EBS Quote Board N FBS Quote Board TAR EBS Quote Board breakdown The EBS Quote Board window field descriptions include 1 Net Position Your net position for that contract Blue background is a long position Red background is short position You can hide the net position in the Quote Board tab on the Properties menu or by right clicking the net position field 2 Currency Pair EUR USD The abbreviation for the traded currency pairs Checked means you are viewing
127. your startup workspace gt To clear your startup workspace 1 From the Control Panel click File and choose Save As Note Alternatively this can be done from the Open Workspace dialog box 2 In the Save Workspace As dialog box click the workspace designated as your startup Eee i Workspace Name Last Saved Date MDT 1 15 2009 12 34 08 PM MG 1 15 2009 12 3356 PM MDT Save Clear Startup J Cancel 3 Click Clear Startup You successfully cleared your startup workspace 72 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Fixing a Workspace A workspace might appear broken if contracts do not appear correctly in a functional window This can occur ea EE e After you upgrade from X_TRADER 6 X to X_ ans oc TRADER 7 X e At the beginning of the month after a saved con tract expires gt To fix a workspace 1 Open Market Explorer 2 Find the products you want to drag into the functional window 3 Drag and drop contracts from Market Explorer to the appropriate functional window 4 From the Control Panel click File and click Save You successfully fixed a workspace Deleting a Workspace gt To delete an existing workspace 1 From the Control Panel click the Open Workspace button 2 In the Open Workspace dialog box select the workspace you want to delete 3 Click Delete The workspace is deleted from the list You successfully deleted an exis
128. 08 e If your Maximum Order Quantity is 15 and Trade Out is set to no this order is rejected e If your Maximum Order Quantity is 15 and Trade Out is set to yes this order is accepted 242 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Renaming an Existing Strategy In addition to the procedure below you can rename a strategy in the Create Strategy window or create a new strategy based upon the existing one Refer to Amending a Strategy on page 244 gt To rename an existing strategy 1 In the Market Grid Product column double click the spread name or Right click a cell in the spread row to access the context menu and click Name Product 2 Enter the new spread name and click OK To revert to the original name spread type ratio legs expirations click Restore You successfully renamed an existing strategy Recreating a Spread Strategy You can use the Create Strategy window to recreate strategies saved in a workspace gt To recreate a strategy 1 Open a workspace with a previously created strategy 2 From the Control Panel click the icon The Create Strategy dialog box opens 3 In the Strategy Name list at the bottom of the screen click the strategy you want to recreate Note To select multiple spread strategies press and hold the crru key and continue clicking spread strategies Then release the crRr key 4 Click the Re Create button You s
129. 10000 TS Enables Trailing Stop Trailing Stop sets the price for a stop order a fixed distance from the current market price and moves dynamically Trailing Stops Trailing Stop ae can be limit or market orders Orders ticks from last traded price Sets the number of ticks from the LTP your order trails ICE Enables Iceberg Sends only a portion of the order quantity to the market at a time Each order quantity is equal When one portion fills the next portion is Iceberg i sent until the entire order quantity fills Default Disclosed Qty Pre sets disclosed quantity IOC Enables Immediate or Cancel IOC Immediately fills the order to the extent Immediate or possible and cancels the balance Cancel FOK Enables Fill or Kill FOK immediately fills the entire order or immediately Fill or Kill cancels the entire order MLM Enables Market Limit Market MLM sets a buy order placed above the best Market Limit offer to fill by the best offer and a sell order placed below the best bid to fill by the best bid MV Enables Minimum Volume MV sets the minimum order quantity that must Minimum be available in the market or the entire order cancels Volume GTC Keeps order in the market until you cancel it or the contract expires Good til Cancel LOO Enables Limit On Open LOO sets limit orders that only execute at the open Limit On Open Any portion not filled at the open cancels LOC Enables Limit On Close LOC send
130. 151250 15 CME S MAROG 151200 1500 CME S MAROS 151250 1500 P M Vh VDIo P Set the trade quantity you want to highlight on the Time and Sales tab on the Properties menu X_TRADER User Manual 375 Trading Technologies International Inc Proprietary and Confidential Information Chapter 14 Hiding Time and Sales Columns Using the context menu you can choose which columns you show in the Time and Sales window gt To choose which columns you show 1 Right click the Time and Sales window 2 From the context menu click Show Hide Columns The Show Hide Columns dialog box appears Show Hide Columns Exchange Product Contract Price Qty 3 In the Show Hide Columns dialog click to select the columns you want to see 4 Click OK You successfully chose which columns you show 376 X_TRADER User Manual Trading Technologies International Inc Time and Sales Overview Time and Sales Context Menu Right click the Time and Sales window to access the context menu The available menu options include e Find Control Panel Displays the Control Panel Find Control Panel e Clear Filter Removes the filter from the selected cell Clear Filter e Clear All Filters Displays all available data Clear All Filters e Show Hide Columns Lets you select which columns to show Show Hide Columns e Properties Opens the local Properties menu Properties Time and Sales F
131. 23 Excel change default colors in market grid 200 creating a link from 200 timing of updates 200 using for theoretical and implied pricing 200 Excel Links laser line in md trader 277 using in md trader 276 Exchange for swap 392 field descriptions 393 submitting 394 Exchanges BrokerTec 406 EBS 415 ICE 427 order types 292 recognizing active 37 SFE 433 TOCOM 435 Executing an order 180 Exiting 42 Expiration de activating 234 de activating multiple 235 Export Data 158 331 352 367 X_TRADER User Manual Fast Fills Pane context menu eurex information notes Field descriptions fill window order book trade book Field Descriptions against actuals trade window audit trail audit trail tab autospreader tab basis trade window block trade window color tab fill tab flex options trade window manual fills market explorer market explorer advanced market grid md advanced tab md color tab md display tab md trader md trading tab order book top order entry pane order entry tab orders tab quote board tab sounds tab spread matrix tab time and sales time and sales tab trading tab File menu Fill or Kill Fill tab Fill window column descriptions Fill Window adding accont number fast fills pane fills alert dialog box fills pane overview manual fills position pane Fills Alert dialog box 447 Trading Technologies International Inc Proprietary and Confidential Information 363 364 364 363 437 437
132. 25 0 GE DEC08 15 3 CME 64600 RS1 DECOS 19 5 CME 4 0 GE Calendar 1xGE MAROS 1xJ ps001003 20 5 CME 13 6B Calendar 1x685 MAROS 1xD Hello 22 0 CME 13 6B Calendar 1x6B MAROS 1xD Hello 22 0 y gt z o m mo m m m Q o m m Exchange Product IMMMY BuyOty SellOty HetPos P L Last AvgBuy AvgSell Open P L 19711 13285 d gt To open the Fill window From the Control Panel click the Window menu and choose Fill Window or From the Control Panel click the icon You successfully opened the Fill window X_TRADER User Manual 347 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 The following panes compose the Fill window Fills pane Displays the exchange confirmed data about a trade Position pane Provides net position information by product and contract Profit Loss P L cal culates using confirmed fills Unless set up to do so on the gateway Eurex fast fills do not figure into net position calculations Ask your TT representative for information on converting fast fills into confirmed fills Also refer to Eurex Fast Fills Information on page 364 Fast Fills pane Displays limited trade information until the exchange confirms the fill Some exchanges provide guaranteed fill information via the back office feed This can result in delayed fills if the trade information is not received from the exchange The Fast Fills pane mitigates the delays that ca
133. 4 EEEX OPTIONS G VER VIEW TL Z a Ut DS P tee DLL Mie oe ARR aati eat ed Teh ek dca yen 395 FLEX OPTIONS V ADOM 220080 Selo oN ete l al a Be ei ole A btu Pye OB 8 395 SUBMITTING A FLEX OPTIONS TRADE ooo 396 ENTERING PROF TRADES ssi 397 PROF TRADE FIELDS ob bobo 397 TRADABLE INSTRUMENTS og US ko ee k SSD cuties sewn tecl wc ea cath uu al yp en ns LL L LQ 398 STRATEGY WHOLESALETRADES ss J 399 EURONEXT AND GUARANTEED CROSSING ss ssi i i i i i 401 ASSET ALLOCATIONMETHODS ssss s s s s s s s sw si UC w 402 ENTERING ASSET ALLOCATION ORDERS ss sssisisisistisisis 403 Halt Prades Example mn a sat teeta is oe ee en bed tae Sse TEE 403 One Trader Example m uso SZT dere ponda Zonas N a bba ead arse btcotse seek 404 TRADING SPECIALTY EXCHANGES C I LL 405 TRADINGBROKERTEC 2 406 TRADABLE PRODUCTS O s L S bo ate Poh lS el gl gh ee nta u u R altel Au 406 ORDERLY RES T T Sty cia e aa a tah Nahm vases e ne 9h hed Ses Load 58 ah tah ae Sage Held gee tA him NIA 5 a bale ey 406 PRICING NOTATIONS lt e C 83 td Ue ha nt Su ae U enh nn tee ne ee SR rs a Ea 407 PRIGINGZFORMAT P T EE E ANERE E Gb iti daan DIII i Ilia iid hice ieeed 212 407 MARKETA G RUD 8 es seei ma ine nata pa taspa ASIAN
134. 4 2 6 98595555 53 COPE SEAS ae poe a eR eG cL aia aes nka sapayay ra ane een Se Se erty Nak et 415 NDES Use erties nuan a tas te bul of tot tks 02 p OREN eh hs aia a elie Aa ii ii ates egw a AAD a 2 a a 68 A 1 415 TRADING CONTRACTS IN THE EBS QUOTE BOARD se ss 416 Keyboard Confistirationy 00 S techs s secgag doco cae eae 32 Lek dabeaiea deleoe ate BE Hei Fate S uk Teo 418 Reading the EBS Quote Board 00 2 00 22 occ ccc cece cee eee eee ee ce n eeeeeeeeee 419 CUSTOMIZING THE EBS QUOTE BOARD ss 420 Quote Board tab 421 Hotkeys tapeo o Adios oes eee os ceed assess I gad ised E nissa yas 422 MDT rading tabi kent ca ale ec th Athol tt aeta edo iene let a aa k gn t ua ks 422 xii Trading Technologies International Inc X_TRADER User Manual Table of Contents GGOlOTAAD m C Naess ae see Cae ee eee nh Ac GEE Se e C tt dS akan aro eee S eo gees 423 TRADING EBS CONTRACTS IN MD TRADER 424 EBS CONTRACT NOTES ss 426 PRADINGIC E e zas as den sot ns Mane cure set SON bini een CONN sinusa e Wd ROR AD ELAS SOOO St Rene 427 CT BARING tinct a ena n Puas apta BAe a ky cach k LS tet S S Cuna OP he qat s a wate ieee h Saag tk eh eh E 427 MARKET EXPLORER C sondxcecs typo yh asa 2 nu OFS iets ks OR SiN Idan pies Chet ss p 9 R a wee ete y sewa z 428 TEASER ss Mees re tates eho rida yea MV 22 5 a cava sivel tobe MED ocak en onde gut k ts MeN k
135. 51 37 000 MSA ARoS 10 Tesz TGTD Limit 14 51 37 000 SA ARoS 40 7632 GTD Limit 14 51 21 000 MM SA ARoS 10 7632 GTD Limit 14 51 20 000 MM SA ARoS 40 7632 GTD Limit 14 51 13 000 MM SA ARoS 40 7632 GTD Limit 14 51 13 000 E SA ARoS 10 7632 GTD Limit 14 51 10 000 SA RoS 10 7632 GTD Limit 14 51 09 000 CI 64 MAROG 10 7631 GTD Limit 16 32 21 000 64 MAROS 10 7631 GTD cust3 Limit 16 31 54 000 2 Double click the column heading again to sort in descending order You successfully sorted using the Floating Order Book 344 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Keyboard Trading in the Floating Order Book You can use the keyboard to interact easily with the Floating Order Book Use the default hotkeys or customize them to create your own e TT Default map e Description e Assigning hotkeys to the Floating Order Book TT Default Map Focus on quantity field Decrease ome value Increase value Focus on price field C Input quantity and price Description Description Launch FOB Launch the Floating Order Book Focus on quantity Edit the quantity field Focus on Price Edit the price field Decrease value Decrease the price or quantity fields Increase value Increase the price or quantity fields Submit order Delete order Delete the highlighted order Close the window X_TRA
136. 542 03 18 154550 156050 0 64600 For a complete list of columns available in the Trade Book window Order Book window and Fill window see Appendix Grid Column Descriptions on page 437 X_TRADER User Manual 355 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 Position Pane Context Menu 356 Right click the Position pane to access the context menu The available menu options include e Find Control Panel Displays the Control Panel e Add Manual Fill Lets you manually enter a fill Information displays in the Fill pane and updates your P L e Remove Fast Fills From Position Removes fast fills from the position and recalculates your P L e P L Display Displays position using the native currency or the quantity multiplied by the price default The primary currency is annotated next to the Currency option for example Currency USD e P L Based On Recalculates your Profit and Loss based on your selection e Open P L Based On Recalculates your open Profit and Loss based on your selection e Ignore Manual Position Removes manual fills and recalculates your P L e Show Fast Fills Displays partial information about the order Fast Fills are enabled by default but only offered by some exchanges e Auto Expand Automatically opens the position tree e Expand Expands the current branch e Collapse Contracts only the selected product e Expand Al
137. 6 119 199 119 135 324 375 437 437 437 61 45 60 60 50 53 57 58 58 46 62 61 59 57 61 184 262 43 158 364 352 190 252 331 356 Index Click Trading Creating quote board spread matrix time and sales trade book Contracts Disappeared Contracts vs Flow Control Panel adding a product group adding a spread table alerts manager associating a product to a product group changing the size of the toolbar copying a spread table creating a workspace customer defaults setup deleting a product group deleting a workspace disassociating a product from a product group finding icon and menu descriptions opening a functional window plug ins product group setup properties setup removing a spread table saving a spread table saving a workspace spread tabes setup toolbar window menu workspace setup Conventions bold italics keyboard keyboard formats Copying md trader screen spread tables Copyrights Created Outrights and X_TRADER Creating a link from Excel asset allocation butterfly condor matrix custom colors custom colors md trader customer default profiles customer profile prof trades quotes rtd formula spacer rows in market grid Trading Technologies International Inc Proprietary and Confidential Information 325 315 377 367 73 432 63 77 83 150 80 67 84 69 85 79 73 81 63 146 64 151 74 95 84 84 70 82 66 64 68 72 25
138. A 428 EMPLIBD PRICING lt lt 92 Z asin E vas wha iS fet Dts cn Se ZE dhl was Sr 1 XN ots ees os eng IK Panicle Senet C Shee Dole as 429 TRADING 222 05 bo Sola aya l tS ASD aca Am Yu tupu s hdc te See k Y Mints 8 eta A k a LS Uh bug Shes 429 SWITCHING BETWEEN CONTRACTS AND FLOW 429 CONTRACTS VSOFLOW EXAMPLES 3 68s ease dust etal cect oe gs u u uu T u ie suu SL oa es 430 ORDER TYPE AND RESTRICTIONS ss 430 TRADING SLATES seo 00 s sens occ ey coca ool oe SN EE ON aes WP AOE Sg HOE Hote E Ga 2 2 35 SS 431 FILL WINDOW AND Peler s asr b s e tN PAS oN a Y SAAMI PRESEN AEE CTCL NA SABER OSE AD Lilie 431 UNDERSTANDING DELIVERY AND FLOW ___ 432 PunherExarmplesu c uay phap ac as aspa amas cont eeethSnoaens mews deus quoriedaae na E 432 TRADING SPE g Quan ta Bel Meh z ab es EL kS 3 Sua WtO uuu a L ku e cd hot Sletten uA 433 IMBLIED ASTERISK a TATT 25 BE ee eS TSA Ea MNES BR a s ERASE Shed C Ona a Le 433 CUSTOM MARKET STRATEGY wassat feos 824 usscahenes ts focendem Pry cee ESEA AREO tn scestee ese dors 433 POST FILL ACCOUNT NUMBERS 2 433 ADDING AN ACCOUNT NUMBER ooo 434 TRADING FOC O ND 252 hier T St a o esse wich i he uum Reis E ae Naa Ota Gh hte IS re Soe ahs ass 435 A PPENDIX GRID COLUMN D ESCRIPTIONS n LLL 437 ENDEX Miei othe Aah Gol ett Sed oy Nba lah eT po tA A be Ee he SS CL L ah Det
139. AQ Hidden by default Most recent ask quantity AQ 150 BP Hidden by default Most recent bid price 12188 0 BQ Hidden by default Most recent bid quantity Your P L for that contract based on the last traded price P Your net position for the contract Quote Board uses the following indicators 1 Top of the bar Indicates the highest price of the day 2 Triangle Indicates the opening price for the day relative to low and high prices Middle of the bar Indicates the last traded price Bottom of the bar Indicates the lowest price of the day B Indicates the current best bid is above the last traded price D pe e Checkmark Indicates a new settlement price is received which belongs to this session The settlement value is shown The checkmark is replaced by another icon with the next trade 7 Arrow Indicates change between last two traded prices 8 A Indicates the current best ask is below the last traded price X_TRADER User Manual 323 Trading Technologies International Inc Proprietary and Confidential Information Chapter 10 Managing the Quote Board Properties Manage properties for the Quote Board on the Quote Board tab on the Properties menu You can e Hide or show fields for all default Quote Board windows e Enable or disable the display of the exchange name with the contract Disabled by default gt To access the Quote Board tab 1 From the Control Panel click the Settings men
140. BOT A ZN MAROS Rime oie lt Default gt 11872 Grip Although certain columns and options boxes do not appear in the MD Trader window by default for illustration purposes this diagram displays all available options and columns E Note MD Trader is protected by U S Patents Numbers 6 766 304 and 6 772 132 z rH Trade Out U S Pat 6 766 304 amp 6 772 132 System Clock Displays the current time according to your workstation Net Change Displays the net changes Net change is the difference between the last traded price and 246 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview the settlement price Customer List Let you select any customer to trade for from the customer list Total Contract Displays the total volume traded for that contract Volume Net Position Displays your net position Click the Net Position field to trade out your position This automatically populates the Order Entry field with your net position Order Quantity Indicates the order quantity sent to market After you submit the first trade of the day this field populates with the value you place in the Default Quantity field 1 10 50 5 Preset order quantity buttons To customize a pre set order quantity right click a button 20 100 Enter a value using the keyboard and press Enter Clears the Order Quantity field Default Order Populates the Order Quanti
141. Bid s at Buy Side Cursor Delete the working order s at price of buy side cursor Sweep Offers up to Buy Side Cursor Enter buy order s to sweep the market from inside market up to price of buy side cursor Increase Buy Side Cursor Increase cursor one price level Decrease Buy Side Cursor Decrease cursor one price level Center Buy Side Cursor Move buy side cursor to best bid price if no bids move cursor to center of grid Bring Focus to Order Quantity Field Apply focus to the Order Quantity field Load Net Position in Order Quantity Field Load the current net position into the Order Quantity field Spacebar Center the Market Center the grid on the inside market Shift T Trade Out Delete all working bids and offers and enter orders to off set position 280 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview a Sell at Sell Side Cursor Enter sell order at price of sell side cursor Delete Sell s at Sell Side Cursor Delete the working order s at price of sell side cursor Enter sell order s to sweep the market from inside market down to price of sell side cursor Increase Sell Side Cursor Increase cursor one price level Decrease Sell Side Cursor Decrease cursor one price level Center Sell Side Cursor Move sell side cursor to best offer price if no offers move cursor to center of grid Unrestricted Keyboard Functions Certain keyboard functions can be used with or without enabling
142. Calendar Strangle Straddle etc Lists all available strikes if the product has strike levels Options Warrants etc Filtered Con Lists instruments you can add to the Selected Instruments box based on the criteria you tracts selected Clear button Removes contracts from the Filtered Contracts box Transfer But Transfers selected items to the Selected Instruments box tons gt gt gt Basic button Removes the Advanced fields from view Contracts Strike Filtered Contracts lt All gt Calendar 146E MAROS 1xSEPO8 DECOS Calendar 1x6E M4R09 1xDECO8 MAROS JUNOS SEPDI nerna Types lt All gt Calendar Clear There are 2 Filtered contracts X_TRADER User Manual 165 Trading Technologies International Inc Proprietary and Confidential Information Chapter 5 Searching for a Product Products gt To search for a product 1 From the Control Panel click the Window menu and choose Market Explorer 0r From the Control Panel click the Icon 2 In the Exchange section click the exchange that hosts the product you want to find 3 In the top left corner of the window click to select a filter category from the list Option Filter Characteristics Selects all available products for this exchange The product name or alias entered in the text box is identical with exchange name symbol The product name or alias entered in the text box starts with the first
143. Colors section click a base color to create your custom color from Note This ensures you can see your custom color as you create it 7 On the right side select your custom color from the blended rainbow grid The cross hairs pin point your selection and the color appears in the Color Solid square 8 Click and drag the triangle up or down the skinny luminosity grid to select the hue of your color The Color Solid square changes as you drag the triangle 9 Click the Add to Custom Colors button Your selection in the Color Solid square appears in the Custom colors palette on the left side 10 Click OK On the Color tab the Preview section displays your chosen color 11 Click Apply and then OK to exit You successfully created and used a custom color for X_TRADER windows or text Changing Individual Colors of Grids or Text You can change the color of text and window backgrounds Change the color of rows columns or individual cells Notes e When you have LTP background coloring enabled on the Trading tab in the Properties menu the Last Pre column colors cannot be changed in the Market Grid e Buy and Sell orders are colored blue and red by default Selecting new colors using the Formatting option does not change these colors To change colors this way disable the Color Code Buy Sell property from the appropriate tab on the Prop erties menu e All colors for the Spread Matrix are managed in the Color tab on the Properties men
144. D Trading tab on the Properties menu Refer to Wholesale Trading Types on page 382 for more information on them Refer to Order Entry Pane Field Descriptions on page 172 for more information on time in force and the difference between Market and Limit orders X_TRADER User Manual 291 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 Exchanges and Order Types Each exchange determines how they support order types The definition and use of the type may differ between exchanges and marketplaces If the exchange does not support the order type the Audit Trail window displays an error message from the exchange If the exchange does support the order type the exchange handles the order execution Letting the exchange execute the order type optimizes your order s speed to the market Refer to the TT Gateway System Administration Manuals for each exchange to find a list of supported order types Order Restriction Definitions You can execute the following order type restrictions using the Market Grid or MD Trader 292 Best Limit BL Joins the best bid or offer without the requirement of a price being entered Available on TOCOM Block Trades a high volume with a price agreed to by both parties outside of the normal exchange trading methods Available on Eurex Refer to Eurex Block Order Overview on page 218 and LIFFE Refer to Wholesale Trading Overview on page 381 Fill
145. DER TT CVD Autotrader TT Trainer TTNET All other referenced companies individuals and trademarks retain their rights All trademarks are the property of their respective owners The unauthorized use of any trademark displayed in this document is strictly prohibited Copyright 2004 2010 Trading Technologies International Inc All rights reserved Trading Technologies International Inc Table of Contents WHATS NEWIN T T Saee hati a etch soe tess es ok cet lia on iL ca fat onl i ots cad a 15 JAPANESE GUI RELEASE oo oo occ oy poo She oe hob be s oo hoo So eg ee 16 GCONTROL PANELYMiENUS e that eu tatin ss Lk de Meh SL Raitt gall A all Se air oak eet MDa E aeta ots gus J 16 MARKET WINDOW _ 17 MD TRADER aya 39624 sch er as sisa s een 4 aaa renin L anne baa saoe eeen nest Sead coke Per gt a sisa woe cA 18 PROPERTY TABS s s u Ca a n qa Y ee ital a a le tt tab Stet tt S aC Aa cas wah oxiaty A 18 MARKETER XPEORERS i u u u psd akunata Onde get tlt Je dey be test eens tite lek SAO Sa s sap cal Ay tl pe idle sisa anne 19 AUDIG PRAM E YY aT See Ine el Sus ae ahs vis ton ot dine eae EOE aicen apt se Sein a chain hee apse dela cs 20 ORDER BOOK FILL WINDOW AND TRADE BOOK 20 TIME AND SALES AND CUSTOMER DEFAULTS so 22 QUOTE BOARD AND SPREAD MATRIX ooo boone 22 AUTOSPREADER AND AUTOTRADER jF R
146. DER User Manual 345 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 gt To assign hotkeys to the Floating Order Book 1 From the Control Panel click the Settings menu and choose Properties Click the Hotkeys tab In the Keyboard Layout field click to select Custom In the Component column click Floating Order Book In the Command column click the command for which you want to assign a hotkey Click in the Press new shortcut key field STON Oy ee 2 D Press the key or keys you want to represent that command Note Some keys cannot be used as hotkeys E g Delete Backspace Tab and others 8 Click the Assign button You successfully assigned hotkeys to the Floating Order Book 346 X_TRADER User Manual Trading Technologies International Inc CHAPTER 12 Fill Window Overview The Fill window provides detailed information about the current day s trades X_ TRADER displays fill information immediately upon receipt from the exchange However each exchange implements the dissemination of fill information differently Some exchanges provide the information faster than other exchanges TT Fil1 Bes HAr Exch Oty Price Product Contract Account Exc A aS el eee eee SS SSS SSS A 46 CME 2 9536 0 GE JUNOG 19 2 47 CME 26 9537 5 GE JUNO 20 3 48 CME 9521 0 GE JUNO3 19 5 CME 10 9507 0 GE SEP10 18 4 CME 9560 5 GE DECOS 19 3 CME 99 9535 0 GE DECO6 19 1 CME 95
147. Decrease sell side cursor 286 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Sweeping the Market Using the Keyboard In MD Trader once keyboard trading is enabled you can sweep all the buys or sells up to a point set by the buy or sell side cursor using the keys listed below How deep you can sweep the market depends on the level of price depth set by the exchange Note You can change the hotkeys associated with these commands gt To sweep the market up to a specified price point on the Buy side 1 Use a combination of the p and c keys to set the position of the buy side cursor 2 Use the combination of the ctri and a keys to sweep the offers up to the price level indicated by the buy side cursor You successfully swept the sells in the market up to a specified price point gt To sweep the market up to a specified price point on the Sell side 1 Use a combination of the x and w keys to set the position of the sell side cursor 2 Use the combination of the ctr and keys to sweep the bids up to the price level indicated by the sell side cursor You successfully swept the sells in the market up to a specified price point Hitting the Bid Using the Keyboard In MD Trader once keyboard trading is enabled you can hit the bid using the keyboard Note You can change the hotkeys associated with these commands lt lt gt To hit the Bid 1 Enable keyboard trading 2 Pr
148. ER User Manual 17 Trading Technologies International Inc Proprietary and Confidential Information What s New in 7 7 5 MD Trader CBOT A ZN MAR07 MD Trader English pgp Bo eed CBOT A ZN MAR07 a 07205 07200 07195 07190 07185 07180 07175 07170 07165 173 07160 51 07155 76 07150 51 07145 44 07140 51 07135 51 07130 49 07125 47 07120 Property Tabs MD Trading MD Trader Japanese oen a ie EES 07210 07205 07200 07195 07190 07185 07180 07175 07170 07165 173 07160 51 07155 76 07150 51 074245 51 07135 51 07130 49 07125 47 07120 MD Display MD Color MD Advanced QuoteBoard Hotkeys Autospreader Trading Order Entry Fill Orders Audit Trail Sounds Color Time and Sales Spread Matrix Properties English Autospreader Properties Japanese 18 Trading Technologies International Inc X_TRADER User Manual X_TRADER Market Explorer Market Explorer CONTAINS w Market Guid J Search Descriptions Start Exchanges Products Selected Instruments Blec amp CME 4S CME G SEP S caor E CME AGE CME EE DEC06 OME E CME NQ LIFFE cme 45 SF CMe 56M cue SAL amp cme Se amp cme SGE CME SNQ cme 5s L CME SSM CHE SA CHE SAL amp cme 68 FE F EHH Product Types FUTURE G cu sc cue se Z STRATEGY G Sere amp DECE G S manos
149. ET GRID sss 197 OPENING WHOLESALE ORDERS lt 0 l sih Uo sinis tis a Yapasssts A Aa aE E 197 USING THE MARKET DEPTHFEATURE ss sssisisi i i i ististististit L LLL LLL 198 Adding Price Averages and Accumulations to the Market Grid 199 Market De pth Color Codin ge i250 uuu ed odd oy ete eben Soles Laban Boe Me oh oI s 199 MANAGING LINKS TO EXCEL o taseessa euchs noesepecerd dees aon oho tere ened pes se penser se ge TU 200 Creating Links eisrean 2 Gh ceetec seeess ruasan upina Se O82 aysan ede Osa assasi papas EA 200 GENERATING ANRTD FORMULA ss 202 VIEWING YOUR ESTIMATED POSITION IN QUEUE sss sss 203 Market Grids sss s ae cho aya sayway NIE lek Sth ett Oa VAN 0 au a a Sahl ANU MT alt aa SSAA OY MIE tt 203 VIEWING LIVE ONLY CONTRACTS se U a SS SL a UU aS UU LS 204 FLOATING DEPTH WINDOW i ssi 205 FLOATING DEPTH WINDOW EXAMPLES ss 206 TRADING WITH THEORDERBAR ss s s isi isitistst LLL 207 ORDER BAR REA TLURES lt 40 Say oe ote a seted aa dates tis posse onary win sical Saa aaa ce ae tal tented a 2 ihe 207 ORDER BAR PROCEDURES Su pentis d E a eh ain Se teas We tel Say A lal gh LL gas a aa EE HE Behe Ble 207 MODIFYING AN ORDER WITH THE ORDER BAR _ O 209 Keyboard Trading with the Order Bar
150. G sun G s ser amp amp DEC0S eS CME GF F There are 1056 products Market Explorer English ARR r t v Ll sso tiem MES IFA piia URLA TOCOM amp TOCOM ALUM amp TOCOMASS3 200 02 TTSIM TOCOM CRUD TOCOM Gaso TOCOM GOLD TOCOM KaK TOCOM KERO TOCOM M GD TOCOM M PT TOCOM PALL TOCOM PLAT i7 TOCOM A553 amp FUTURE GEE A SPREAD Rss3 2010 03 OPTION amp Fss3 amo A STRATEGY amp Rss3 ano amp Assi anos amp Rss3 200 07 Ass3 ano amp TOCOM SILY amp E F HRS cccccccccc Market Explorer Japanese X_TRADER User Manual 19 Trading Technologies International Inc Proprietary and Confidential Information What s New in 7 7 5 Audit Trail AuditTrail2 ggg CER Time Exh Status Msg Action BS Oty Product Contract Limit_ Stop Pre Type TIF Exec Ob as filed or deleted B27 RE 9 RAN z fe SIAL AT SAdot Ife B S thee in MA im Abo rie 242 ptt ith e I 31 G c t Q G 0 Audit Trail Japanese Order Book Fill Window and Trade Book 80 Bag ek 3 x 108650 ES 00000DG1 O op001007 a a M r10 108475 Jun10 108275 Jun10 708260 dunt 108176 Juni 108150 Jun10 108150 Jun10 108150 Jun10 108060 Jun10 108025 JuniO 108000 Juni0 107975 Sep10 107825 Ment 106096 kaya a ASS oe B s s s s B B B B B n Order Book Japanese 20 X_TRADER User Manual Tradi
151. Guardian application appears 2 On the Guardian File menu click Universal Login The TT Login dialog box appears TT Login Your use of this software and related services and ation is governed by a software licensing For a copy of the agreement contact your administrator or email leqal tradinatechnologies com View li 3 Type your User Name and Password 4 To choose the exchanges to which you want to log in click the Options button X_TRADER User Manual 35 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 The TT Login Options dialog box appears TT Login Options Select Exchanges Change Password aa a 172 7 177 58 E cme 172 7 177 45 E ec5or 172 7 177 44 E Eurex 172 7 177 42 WA UFFE Click the Change Password tab In the New Password field type any alphanumeric entry for your new password In the Confirm Password field retype your new password Click OK eonny You successfully changed your universal login password 36 X_TRADER User Manual Trading Technologies International Inc Getting Started Recognizing Active Exchanges A list of active exchanges appears in the following locations e The Market Explorer window e The Guardian dialog box Status lights appear next to each exchange indicating its availability e A green M light indicates all services are running e A red M light in
152. Information Chapter 15 Submitting a Flex Options Trade Note Wholesale orders appear in the Audit Trail window and the Total Traded Quantity column in the Market and Fill windows Wholesale orders do not appear in the Order Book window gt To submit a FLEX Options trade 1 Log into the appropriate exchange Open the Market Explorer and select a product Open a Market window for the selected product In the Market window click in the row containing the product Right click in the row to access the context menu Highlight Wholesale and click Flex Options The Flex Options window displays r FLEX Option Trades Oy E 5 tS Strategy Code Delta 0 100 0 Component List Leg Commodity Exercise Pr ContractTyp Expiry Date Buy Sell aty Price m 7 Inthe Strategy Code list select the strategy you want to use 8 Inthe Delta field type the appropriate value Note If the trade contains the underlying component LFZ FLX its value should be 1 100 If not its value should be zero 9 For the first leg in the Commodity list select FLX or Z 10 In the Exercise Pre field type the exercise price 11 In the Contract Type field click the down arrow and select C call P put or F future 12 In the Expiry Date field type the expiration date for the contract 13 In the Buy Sell field click the down arrow and select B or S 14 In the Qty field type the quantity of the trade 15 In the Price
153. Maal Mat Salle net au sa e ee EOD 22 443 X_TRADER User Manual xiii Trading Technologies International Inc Proprietary and Confidential Information Table of Contents xiv X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information What s New in 7 7 5 Trading Technologies continues its effort to provide you with the quickest most efficient and versatile trading software with the release of X_TRADER New Features in X_TRADER include Japanese GUI Release X_TRADER now offers a fully localized interface in Japanese X_TRADER User Manual 15 Trading Technologies International Inc Proprietary and Confidential Information What s New in 7 7 5 Japanese GUI Release X_TRADER now offers a fully localized interface in Japanese The localization includes major windows fields context menus properties and some audit trail messages In addition the online Help and user manuals are also available in Japanese Here is a sample of some of the screens which have been translated Control Panel Menus Market Explorer Market Window FRAT bel RTS Order Book i B O Beret CRF CAD Fill Window Trade Book Audit Trail Time and Sales Customer List Create Strategy Quote Audit Trail Spread Matrix Autotrader Autospreader Available Credit MD Trader Alerts Manager Quote Board EBS Quote Board X_STUDY Plug ins TT Minimizer ETETA mF ARs S
154. Maximum Audk Trai fie size MB 50 Audt Trail Columns All records Shows all recorded data in the Audit Trail Last records Shows a specific number of the most recent messages to display 100 2000 AudttrogDB Operator actions Logs some actions you execute via mouse clicks or keyboard strokes Example pelete in the Order Book is always logged MD Trader actions are never logged Number of days to Sets the number of days Audit Trail log files remain in a database Files are save located in lt root drive gt tt logfiles AuditLog Note If you use automated tools like Autotrader or Autospreader change the days kept to the minimum of three 3 Maximum Audit Sets the amount of data the Audit Trail log file holds before creating a new Trail file size MB one The file size are configurable from 10MB 200MB with a default of 50MB of data Messages Description Color code buy sell Lets you quickly differentiate among orders Default colors are e Text color for Buy orders is blue e Text color for Sell orders is red Enabled by default Shows fill records Enabled by default Show fill down Downloads and displays all fills on startup Disabled by default load records Note You have to enable Process and display INFO messages for this property to work Process and display Shows informational messages from exchanges like MARKET IS OPEN or INFO messages DONE RECEIVING FILLS FOR CBOT Disabled by default The defa
155. ORKING ORDER SPREAD AND BUTTERFLY CONDOR MATRICES ss 312 CANCELING ORDERS Z e aAA tata eth oy ote uapa and tt U phys cia tate 2 a EA cudnt Ubi tte 312 SETTING OUTRIGHT OR SPREADPRICES s ss sss s aiseseseeeee 313 SPREAD AND BUTTERFLY CONDOR MATRIX PROPERTIES ss L 313 SPREAD MATRIX CALCULATIONS osas antet uhu pod og bode itech Qu gt lee We C CO a h 314 SPREAD MATRIX CONTEXTMENU si iwssss s s si ie L 315 BUTTERFLY CONDOR MATRIX OVERVIEW ss i i lt itiststs LLL 316 GENERATING A BUTTERFLY CONDOR MATRIX sss 317 BUTTERFLY MATRIX CALCULATIONS ss LLL 318 QUOTE BOARDOVERVIEW ssi 319 QUOTE BOARDFEATURES ss s i i i i is i i i LLL 320 POPULATING QUOTEBOARD ssi i OS OC swOstCstststS 320 READING THE QUOTEBOARD s i i s t t LL 323 MANAGING THE QUOTE BOARD PROPERTIES ss i lt i lt i s ists LLL 324 QUOTE BOARD COLOR PROPERTIES U 324 USING A FLOATING ORDER ENTRY INQUOTEBOARD i i a t t tw 325 USING THE QUOTE BOARD CONTEXT MENU 22 325 ORDER B OOT fOO V oT C LLL 327 PEPE RS oo een oaa ce ec a A a E 22 SA os a E aa acl so Riddance te a isn ats a a mks 328 TRADER IDENTIFICATION ss esse 328 TOP PANE FIELDDESCRIPTIONS ss l Ua Sis UU A Sus L U ayllu 12 329 GRID SUMMARY ceres sa a hen Q lf u
156. Open or Close Complete the appropriate order data in the remaining fields After entering the order data press ENTER to review the order So SS oy Du PE Press ENTER a second time to send the order to market Note To cancel the order prior to sending the order to market press esc to close the Keyboard Entry window You successfully opened the Keyboard Entry window 222 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Buy and Sell Hotkeys Enable and configure hotkeys on the Properties menu gt To enable and configure Buy and Sell hotkeys 1 From the Control Panel click the Settings menu and choose Properties Click the Hotkeys tab In the Keyboard Layout field click to select Custom In the Component column click Order Pane In the Command column click the command for which you want to assign a hotkey Click in the Press new shortcut key field Soa Se eS Press the key or keys you want to represent that command Note Some keys cannot be used as hotkeys E g Delete Backspace Tab and others 8 Click the Assign button You successfully assigned hotkeys to the Order Bar Controlling Quantity or Price Using the Keyboard The mouse or the spin buttons may be used to adjust the quantity or price However you may also use the keyboard to manually enter a quantity or price gt To enter a quantity or price using the keyboard
157. Pre Type TIF ca lt 3 You successfully sent a held order to market 338 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Using TIF Options In the screenshot below the button labeled GTC displays different Time In Force TIF options The Order Book window allows you to change the order s time in force B Order Bookt aja oo EMEGE Buy 1x4 0 GE Limit BOO1WE Acct ps001003 Cust v pecos 106205 TIF determines how long your order works in the market In all cases your orders work until they trade you cancel them or the time in force is met Click the TIF button to toggle between your choices e GTD Good Til Day Works until the current trading session ends Enabled by default e GTC Good Til Cancel Works until the contract expires e GIS Good In Session Works until the contract expires within the session or the trading session ends Some exchanges like Euronext have products with different trading sessions in one day e Date Works until the expiration date Note You can enter Iceberg orders with TIF options GTC and GIS gt To change the TIF option 1 Click to select the order from the bottom pane in the Order Book 2 Click the TIF button GTC in the picture until you get the option you want to use You successfully changed the TIF option X_TRADER User Manual 339 Trading Technologies International Inc Proprietary and Confid
158. Proprietary and Confidential Information Chapter 6 Field Description Cross Cross Enable Order Crossing from the Order Entry tab on the Properties menu Cross wi e Cross w Trades with a specific counter Cross party Enter the counter party s Trader ID where indicated Support of this feature is exchange specific The Buy and Sell buttons become Crs Buy and Crs Sell buttons Cross Enables the Buyer and Seller lists so you can set up a cross trade The Buy and Sell buttons become Buy First and Sell First buttons ITX Sends an Intention to Cross noti fication as is required by some exchanges A 15 second countdown appears on the face of the ITX button This timer is only informational and does not trigger a cross order when it reaches zero Set the number of seconds in the Order Entry tab on the Properties menu X_ TRADER does not time orders for markets that require a time interval between sides of the cross being submitted You must manage this manually Note Do not confuse Intention to Cross with a cross order or with the LIFFE ITX function Intention to Cross is an announcement of the desired intention to cross The LIFFE ITX is a cross order not an announcement E quities Equities Short Sell Exempt Indicates when checked you are exempt from short sell notifications for some trading types C Short Sell Exempt Using Floating Order Entry The Floating Order Entry is a detach
159. Put Displays each strike on two lines of the Market Grid with the calls placed directly over the puts Price Rounding Description Options This property lets you choose your 1 4 32nd rounding options It applies to all orders you enter except Autospreader and Autotrader orders and Stop orders that always round away from the market Sends order at your selected price If the price is not tradable the exchange rejects the order Aggressively Rounds tick prices towards the market Conservatively Rounds tick prices away from the market Market Depth Color codes the Market Depth by price level For All Levels or From 2nd Level by price level on You can customize your market depth colors on the Color tab Net change Displays color coding of the Net Change column You can customize your net change colors on the Color tab Net position Displays color coding of Net Position column You can customize your position colors on the Color tab LTP Displays the Last Traded Price background coloring scheme background Top of book Displays the top of book price in a different size font and color Used for the Market Grid and Spread Matrix You can customize your top of book colors on the Color tab Highlight Description Own orders Highlights your own orders to easily identify them Used for the Market Grid and Spread Matrix X_TRADER User Manual 99 Trading Technologies International Inc Prop
160. RADER X_RISK e To report gateway or server software issues press 3 Example Use when reporting software issues relating to TT Gateways including TTSIM Trainer WAN Routers Remote Host Servers and TTM e To report FIX Adapter or FIX Gateway software issues press 4 Example Use when reporting software issues specifically related to a TT FIX Adapter or a TT FIX Gateway 28 X_TRADER User Manual Trading Technologies International Inc CHAPTER 1 Getting Started This section lists the minimum steps necessary to begin using X_TRADER In addition your particular trading environment e g back office requirements or quoting may require you to perform additional steps Advanced features and functionality are described in their respective sections For advanced customization refer to Common Administrative Tasks on page 45 Warning This section is not intended to replace training provided by Trading Technologies but rather to supplement it We strongly suggest that you perform these steps in a simulation environment prior to submitting live trades Note Simulation mode points to an exchange s dedicated simulation environment You must have an appropriate multicast address and or access to make it work gt To set X_TRADER to Simulation mode After installing X TRADER you may want to practice trading in a simulated environment 1 From your desktop toolbar in the lower right corner of your screen double cl
161. Right click in the row to access the context menu Highlight Wholesale and click Exchange for Swap The Exchange for Swap window displays The Series Month and AMR fields display data from the Market Grid 7 In the Price and Quantity fields type the appropriate values Complete steps 9 17 in both the Buyer and Seller sections 9 In both Ace Code fields type the account code for this trade 10 11 12 13 14 15 16 17 18 Note Valid entries include H House L Local S Segregated or N Non segregated In both Open Close fields type O or C to indicate whether this trade opens or closes a position In both ISIN fields type the International Security Identification Number In both Cash Prc fields type the price for the underlying agreed to by buyer and seller In both HR fields identify the methodology used to determine the price for the underlying com ponent Note Valid entries include P Price factor or duration method M Modified duration method S Sensitivity spread ratio and D Delta neutral ratio In both Reference fields identify the underlying product In both CTI fields type the appropriate clearing code Note Valid entries include 1 2 3 4 U for unassigned and A for allocation In both Posting Code fields only enter a value if the trade is for the Euronext exchange In both Account fields type the account numbers if applicable Click Send to submit the order You suc
162. Sapien pad ate Se 2 Swa a ka de aB oi nee lt S DISPLAYING THE MID POINT OF INSIDE M ARKET KEEPING MD TRADER ON TOP VIEWING YOUR ESTIMATED POSITION IN QUEUE e eee MID tad Gls tans oh Soman on 6 Sandan elaine ahs Saleen ttc Kasam it fa ne dae aa aa aaea S S sao ex adhe Colom OdeSi uyo z ha tan NNO 5 ee eo re A leh usa 22 CUSTOMIZING MD TRADER Using the Laser Line M OVING GRID COLUMNS RT Default Mapsns ccii2 na seteneczadae acted sanaonate es eoaneet ea haoae ohne cosa sue neem se ac enna nsmeda teammate MAIN HOTKEYS viii X_TRADER User Manual Trading Technologies International Inc Table of Contents Enter the Order Quantity Using the Keyboard 285 Deleting All Orders Working Bids or Working Offers Using the Keyboard 285 Loading the Net Position in the Order Entry Field Using the Keyboard 286 Sending a Market Order Using the Keyboard 286 Setting the Limit Price Using the Keyboard 286 Sweeping the Market Using the Keyboard 287 Hitting the Bid Using the Keyboard 0250 00 nese Lode veie es aie n a en ne essa de ooo ae 2 287
163. Series button in the Market Grid e Ifan order cannot be submitted because it has an error review the Audit Trail to identify order entry errors Chrips e Change a working GTD Good Til Day order to a held order after the market closes e Customize the Held Order Status property using the Color tab on the Properties menu X_TRADER User Manual 337 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Follow these procedures to manage held orders e Holding an order e Sending a held order to market gt To hold an order 1 Click to select the order you want to put on hold Note Hold the crau key and continue clicking orders to select more than one order to put on hold 2 Click the Hold button The order is removed from the market The TTStatus column identifies orders placed on hold B Order Book1 Oe m DER Buy 1x40 GE Limit BOO1P1 Acct ps001003 Cust v Lock i wow mmmn s es zs sao You successfully held an order gt To send a held order to market 1 Click to select the held order you want to send to market Note Hold the crru key and continue clicking orders to select more than one held order to send to market 2 Click the Submit button Si Order Book elok i i 0 ed a a ce Buy 10 x 106205 ZF Limit 360291048825415 1667 Acct s01001 r we on Z Ae Exe Work Exch TTStatus Product Contract Price Stop
164. Starting Pitch Ending Dur stion Pach Duration Repeat Play different than the properties on the Sounds tab in two ways e TradeSounds are simple two toned beeps The prop erties on the Sounds tab point to sound files housed Ending Pitch Duration Pach Duration on your local hard drive or network e TradeSounds are com pletely configurable via the TradeSounds Properties button at the bottom of the MD Trading tab Restore Def ads Column Description oes Plays a beep after a trade is made at the adjacent trade quantity level when TradeSounds are enabled Trade Quan tity Sets the range a traded quantity must fall between to signal the TradeSound You can customize up to five levels of sounds for both Buys and Sells Starting Pitch and Duration Sets the high or low tone and length of the first beep To disable the first beep make the Pitch and Duration zero 0 Ending Pitch and Duration Sets the high or low tone and length of the second beep To disable the second beep make the Pitch and Duration zero 0 How many times the beep repeats Click to hear the two tone beep as cur rently configured Enable TradeSounds via the MD Trader context menu Range 0 9999 trade quantity Note The subsequent Trade Quantity changes based on the setting of the previous one Pitch Range 0 9999Hz Duration Range 1 9999ms 9999 ms is about
165. Stee FAR et Daha S A get ld Ta a NA a S aK s lett a Kissa sta AN 407 MIDSSERADER Z Sy a 4 ayuy Mua dl ihe asa LIP D aaa au A setae ght erat Aa kas iL t La ature caine ae ah ee te 408 E NCED3DTINKS CO piece Ee es ark S Ne EEA ed rd lee AM kn sa ag ry pal aZ 408 AUTOTRADER AND AUTOSPREADER U U 2 O l Oa L LI U l ll IS I I T l UU L ISU QL 409 CHCECGERADINGS Z u una Sanu iin aa u na hao t yma A Ment T Ye a tn os E hace Tate saa 2 tate 409 UNIQUE FUNCTIONALITY IN BROKERTEC h lU l 409 Placing Passive and Aggressive Orders 410 The Auto Aggressive Property 410 Working Up Orders soi 4 en cd tee da he dle ee Sai nt ieee ta eS a hl de hwe Stas oats Oa Da eo 412 Flashing Quantity and Price during WorKkup 412 Send Quote Order Property mu ence ac cies eaccmauarh danas oat acoh ences cogue ance Stsaueeee eee Sma Dabs 413 Ih ave Check box Ze azu s paalaala E T he SL de SM eee 413 Old Tn Tame tect a te ete te ang tla bn de oa a tee ary yaa a atta te asa bh Rela SEARO 413 Autotrader Tick Formula 414 TT RATING EB S fh ON tot tt EtG Aa APP RASS te tua IRN ANSE CRU uuu SOE INE BIAS OEY A uuu ua e wh a td 415 OR EG 52
166. TEXT MENU se 377 TIME AND SALES FILTERS OVERVIEW ss i i i i lt iCtist LLL 377 FILTERING ON QUANTITY FOR SPECIFIC CONTRACTS se 378 SAVING TIME AND SALES INFORMATION ss s s i i i i lt i lt itists LL 378 TIME AND SALES PROPERTIESTAB Z t i i lt ititists L 379 WHOLESALE TRADING OVERVIEW LLL 381 WHOLESALE TRADING AUDIT TRAIL MESSAGES ss s s s s i lt i LLL 381 WHOLESALE TRADING TYPES ss L 382 W HOLESALE TRADING TYPES AND SUPPORTING EXCHANGES ee 382 BLOCK TRADEOVERVIEW ss s s s i itit L 383 BLOCK TRADE WINDO Wee pect 22 ns SS Me cat A tale tec ea ase a oe ee a ee He 384 SUBMITTING A B LOCK TRADE ll l sassa usha Een Oi ttt Ne usaha Liens 2 wa 385 X_TRADER User Manual Xi Trading Technologies International Inc Proprietary and Confidential Information Table of Contents Le n uwa x tt BASIS TRADEOVERVIEW ss aaa 386 BASIS TRADE WA INDO WS 2 a oot Mee NT ee ee a VO EE en ls On aN fla smh Colby Lue 387 SUBMITTING ABASISTRADE se 388 AGAINST ACTUALS TRADE OVERVIEW ss s i it LL 389 AGAINST ACTUALS TRADE WINDOW sss 390 SUBMITTING AN AGAINST ACTUALS TRADE sss 391 EXCHANGE FOR SWAP OVERVIEW ssi si i i i i lt ititit LLL 392 EXCHANGE FOR SWAP WINDOW _ 393 SUBMITTING AN EXCHANGE FOR SWAP TRADE 39
167. This automatically changes the working order from 4 to 2 contracts If you base your change request on the working quantity requesting a change to 2 contracts the request is rejected 3 Click the Change button The order s place in queue is retained and the order number does not change You successfully changed the order quantity 334 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Canceling Replacing an Order The Cancel Replace button deletes the original order and sends a new order to market The original order loses its place in queue and receives a new order number Use the Cancel Replace button to e Delete the original order and send a new order in its place The new order moves to the back of the queue and may depending on the exchange teceive a new order number e Increase the quantity of the order adjust the price and or change the customer account Notes e You can enable the Floating Order Entry on the context menu and use the Floating Order Entry to cancel replace an order e Ifthe second half of a cancel replace order fails it is no longer in the Order Book or the market However if any part of that order fills before the cancel replace happens you are responsible for the position incurred e Ifan Order Deleted or Filled message appears in the Audit Trail after a delete or change request the order was already deleted or filled by the exchange gt
168. To center the market Press the Spacebar This centers the market in MD Trader but does not affect the position or location of the buy or sell side cursors which are adjusted using a different set of mapped key strokes You successfully centered the market X_TRADER User Manual 253 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Changing Order Quantity Using a Mouse In MD Trader most users use the keyboard to enter order quantity amounts in the Order Quantity field However you can also use the mouse wheel to change order quantity Using the mouse wheel to change the order quantity is subject to the following constraints e The restrictions established by Guardian firstly and the maximum trade quantity defined on the MD Trading tab secondarily e Orders increase or decreases by a quantity of ten Follow these procedures to change the order quantity using the mouse e Setting quantity change property e Changing the order quantity using the mouse wheel gt To set the quantity change property 1 Open MD Trader 2 Right click anywhere in MD Trader and click Properties 3 Click to select the Enable qty change on left right click in edit fields option 4 To set this property for all subsequently opened MD Trader windows click to select Set as Global default 5 Click OK You successfully set the quantity change property gt To change order quantity using the mouse
169. Trader window for the contract Market Grid you click Autospreader e Market Grid Displays a Market Grid for the contract you click s ar e Autospreader Displays the Autospreader Configuration dialog box with the contract you click as one leg Rename Contract P L Display e Autotrader Displays Autotrader for the contract you click e Chart Opens an X_STUDY chart for the selected contract e Rename Contract Lets you rename contracts in the Quote Board pane Clear Formatting Show Hide Rows e P L Display Opens a sub menu to determine how the P L field displays Options include Currency Native Currency Qty x Pre and Ticks e Clear Removes the contract from the Quote Board e Formatting Lets you customize fonts and borders e Show Hide Rows Lets you select which columns to show X_TRADER User Manual 325 Trading Technologies International Inc Proprietary and Confidential Information Chapter 10 Quote Board Overview 326 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information CHAPTER 11 Order Book Overview The Order Book window provides information about your current open orders Traders in the same group share the Order Book and are able to view each other s working orders B9 Order Book2 ao fof F BAR a a ae Sell 21 x 114025 ZN Limit 3602908289230572600 Acct tp001001 v a 21 v a me 7 T ia i A s a daaa
170. UDIT TRAILCOLUMNDESCRIPTIONS eee 157 A UDIT TRAIL CONTEXT MENU 5 nooo 0 oo J III Ia a a aa 158 AUDIT TRAILMESSAGETYPES eee 159 ORDER NGESSAGE Sia asthe cect Pe ee cate ah ous AO eo gg RUSE aa Saa espe OE ERE 159 EXCHANGE ANNOUNCEMENTS l U a U Su u U a E aa 159 GATE WASGATERTSr aa as A OO e a sab qua ah oie gal aasan L Seas a Seat aaye antes i 159 ERROR MESSAGES Se Bay Nolan gens a a 159 CUSTOMIZING EXCHANGE ANNOUNCEMENTS ee 160 PROPERTIES FOR THEAUDITTRAIL WINDOW ss lt i lt i lt CSs 161 STORING PILES CCO 162 CONCISE PUMA I A U Au iray cut ente seeecsgs atts ale eyes a Aa gee 162 X_TRADER User Manual V Trading Technologies International Inc Proprietary and Confidential Information Table of Contents MARKET EXPLORER OVE RVE T C C K aaa usua asas rc os1ndnKer asr r 38 163 M ARKET EXPLORER FIELD DESCRIPTIONS ss 164 MARKET EXPLORER ADVANCED FIELDDESCRIPTIONS ss ssi 165 SEARCHING FORAPRODUCT ss see 166 RENAMING CONTRACTS ss sss 167 POPULATING WINDOWS WITHCONTRACTS ss ss s s s s si i i ci lw 168 MARKET WINDOW OVERVIEW U a aaa asnrnansanrr g0 171 ORDER ENTRY PANEOVERVIEW 2 172 ORDER ENTRY PANE FIELD DESCRIPTIONS se 172 USING PLOATING ORDER ENTRY soo coc l otha cet eos ete y et dns as ss 8 ced cane eae ape i
171. UK VATLA HET BABY ALC AF572 ERG H4 HRE Q A by FIER iR Autotrader Autospreader PFA RED Le hv MD Trader P3 Lege Fat AR EU EBS 734 AR F X STUDY FaB4 UP TT Minimizer Window Menu English and Japanese 16 Be 2 52t 2 RAK O FATO FIERA VDC El SS yE RD W T OO File Menu Japanese X_TRADER Prot AHIL ERTE G AP bY FF PIERE S HEREC CIAT FONT 4 Po Settings Menu Japanese SHARE W ASL HESA H THE MILIAR VI MIIP ERED TIODI FCD TRADER Pro 2 ahte R Ad Help Menu Japanese X_TRADER User Manual Trading Technologies International Inc X_TRADER Market Window fil CME 6L 3 BH Bees ag lt a 45 de dm 5x 136410 6ESEP0 GTD Limit lt None gt 100 s 5 4136440 GID Limt lt None gt Open wa gt Cleat v WF lt Detauk gt C Hok TEEN e Eo eomme spar meats T maree T nesrec Tano wass maroo tanpe T tanaty vou crna ea we TER 136460 43641 a 60607 12 0 136740 1 10 138660 73 00 13660 137000 3 s s 137105 1 I g 137150 172A 0 8 SEP03 8 137310 137440 8 gt o oidifadeF t Cd Market Window English tal TOGOM GOLD A AX 0 STD gi ia lt None gt Open via v me am CE lt De fauft gt 5003003 Al JE he Onde DUP eoe EI E eo EESE Aobh yay ECE 5 4 4 h gt Grid 1 Grid2 7 I lt Market Window Japanese X_TRAD
172. You successfully opened the Audit Trail X_TRADER User Manual 155 Trading Technologies International Inc Proprietary and Confidential Information Chapter 4 Held Orders An appropriate Audit Trail message results from all normal order functions performed on held orders change cancel replace delete or submit Messages appear in the Audit Trail when an order is held but the order is actually deleted from the market and held only by the Gateway If a submit fails for a held order it remains in the hold state and the Audit Trail indicates the submittal failed The Audit Trail also gives you an explanation of why the submission of the order failed Filters Filters are used in the Audit Trail to quickly sort and display data Refer to Filtering Overview on page 50 hip If you are using Audit Trail filters open two Audit Trail windows to ensure receipt of all exchange and gateway announcements Use one Audit Trail window to display order related data with the desired filters Set the Status column filter for the second Audit Trail window to capture alerts ALERT and general information INFO Audit Trail History Audit Trail history data is saved on your workstation s hard disk for ten calendar days in a Microsoft Access file gt To view Audit Trail history L 2 3 From your desktop click Start and choose Run From the Run menu type lt root drive gt tt LogFiles A uditLog mdb Click OK Microso
173. You will not always be filled immediately The grid displays all orders entered by members of the group Filter this information and change the orders using the controls in the top pane of the Order Book window To hide columns refer to the Order Book context menu s s s s s S s B B B B e o aor ome nw K s I Se 42 ecBOT 21 ZN DECOS GTD N a GTO GTO GTD GTO GTO GTD GTO GTD GTD GTO N N PEPE rr err REH EEREEEE For a complete list of columns available in the Trade Book window Order Book window and Fill window see Appendix Grid Column Descriptions on page 437 330 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Order Book Context Menu Right click the Order Book window to access the context menu The available menu options include Find Control Panel Displays the Control Panel Floating Order Entry Displays an Order Entry dialog box for any contract you click Link As OCO Applies the order cancels order relationship to the selected orders Unlink AS OCO Removes the order cancels order rela tionship from the selected order and its pair Rename Contract Lets you change the name of the selected product Inquire Block amp Vola Displays the Inquire Order Block dialog box for accepting Eurex block trades Auto Filters Enables Auto Filters which filter the data by selecting
174. a Field Description Mkt BQQ Market Bid Quote Quantity Mkt BQP Market Bid Quote Price Mkt AQP Market Ask Quote Price Mkt AQQ Market Ask Quote Quantity These columns display all active quotes in the market and update according to price and quantity Enabling Quoting Follow all these procedures to enable quoting 1 Creating quoting preferences In order to use the quoting feature you indicate your quoting preferences 2 Enabling quoting as a feature You enable quoting as a feature from the Properties menu By default it is disabled 3 Turning on quoting for a single window Y ou turn quoting on for each individual Market window gt Procedure 1 To create quoting preferences X_TRADER quoting requires all of the following e One or more spread tables Spread tables let you define how wide quote spreads should be based on a product s time to expiration and price Multiple spread tables provide flexibility within the quot ing system Refer to Spread Tables Setup on page 82 for more information e One or more product groups Product groups let you define how the bid ask values are calculated You can specify the quote type spread table delete time account as well as other parameters You can enable or disable Autoquoting via your product groups Refer to Product Group Information Setup on page 74 for more information e Each quoted product must be associated to a product group Product groups determine how a
175. a customer from the Customer List window Clear Filter Removes the filter from the selected cell Clear All Filters Displays all available data Copy Places selected data on a clipboard for pasting into another program e g Excel Export All Rows Collects all the data in a file whose name type and location you configure Export Selected Rows Collects the data in highlighted rows into file whose name type and location you configure Formatting Lets you customize fonts and borders Hide Column s Hides the selected row s or column s Show Hide Columns Lets you select which columns to show X_TRADER User Manual Find Control Panel Floating Order Entry Link 4s OCO Unlink 4s OCO Rename Contract Inquire Block amp vola Order Auto Filters Clear Filter Clear All Filters Copy Export All Rows Export Selected Rows Formatting Hide Columns Show Hide Columns 331 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Performing Order Status Inquiries B Order Book1 alsi EAE a Al cea Buy 5 x 17578 6B Limit B001LC Acct cubs lt 500 Cust v C Lock M PS i BGE w v O ME Te 100 6J DECOS 8851 3 jecBoT A Hod 8 10 ZF Decos 106205 gt To inquire about the status of an order 1 Select the order by clicking a cell in the appropriate row 2 Click the Inq button The Audit Trail window displays two message
176. a specific party to trade with Cross trades are always GTD orders The following controls are added or deleted after you click Cross in the Order Entry pane Use Cross With trades for LIFFE CONNECT cross trades to indicate a specific counter party by entering the Trader ID Support of this feature is exchange specific If the exchange does not support it the message Order Format Invalid appears in the Audit Trail window Note Remember that you must have previously set up customer profiles for each client you wish to conduct cross trades with X_TRADER User Manual 213 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Cross Order Execution and CBOT Because of a rule implemented by CBOT cross orders experience a time delay The X_ TRADER system complies with the time delay rule and manages your cross orders so exchanges accepted them When you execute your cross trade you send both orders at the same time However the X TRADER gateway system holds the second leg of your cross order and adheres to the following rules so your order is not rejected e 5 seconds between the legs for futures contracts and their associated spread contracts e 15 seconds between the legs for options contracts and their associated spread con tracts Notes e Ifthe first leg only partially fills the second leg submits with the original quan tity No adjustments are made to the second leg e Ift
177. ace SiH ahaha tne aha E ade sa aang tsa 294 OIO S i DD EPEAN NEA AET l teeter Curs AS Inn cath tae tate Sa AI Ya S SAYU dea 296 Mark tGrig 2 a gs ce See ea ete eee Ms eee ad te eine eee een 296 MDD Tita det esos s s Se aaa c uuu Syn alo icine EET ly eaten ala oN tte itl cate OEE ee M a a AOE ALO ea 296 MARKE Pa os So oe Aves qankuna nik cite N eee aay amp hu I TN NN tay Pa kk bean ua Le Ne you yl Sly ct tials s 297 Market Gide roc ice nacnannt sh EIA T A ana te hla cen nak cole Inna eT kao qas deck naga 288 297 MD B21 6 xs ee meee eke ace a ne Nery AA eat ST eee aOR PEN ere Aletta BC er 297 M ARKET ON OPEN MOO 297 MARKET ON GLOSE MOC 4 siete voted sips a nde oo dad Cowes suu Meade be aasma sateen ee eee ees 298 MARKET TO LIMITS 2 0 2 Se he St hein es oh ed ee La Sa AIT Il A STA Shea 299 MINIMUM WOLUME Y SOT so p acecerr ssa saa Me cccres anes ss ee ce rch es noes oC ERE Naa eee nena sa 300 ORDER G ANCELS ORDERS oe ec sy cept ty gt Ah las asuy ie ited AAC enr as Ski di sa SA O 300 Cursor Chang E taa sS chee A pests ne plehh a bt ae ed dtr ee Sunn tphse tS as Jada te 301 Strates y TY PCS va sos ayasa ina tase easneccnedecemtah diag ehancou ecto ch teed dodasneconindenc 2 ty Samay 301 Order Book Additions 301 Invalides OCO Price Levels su it hte tee in Z u
178. ace the tab 3 Release the mouse button You successfully rearranged a tab gt To rename a tab 1 Right click the tab you want to rename 2 Click Rename The current name of the tab is highlighted 3 Type the new name you want to give the tab and press zntzr You successfully renamed a tab gt To color code a tab 1 Right click the tab you want to color code 2 Click Tab Color 3 Click to select the color you want to code the tab Or Click Define Custom Color to choose a different color 4 Once you choose the tab color you want to use click OK You successfully color coded a tab gt To navigate between tabs Press Ctrl PageUp or Ctrl PageDown to navigate between tabs You successfully navigated between tabs 194 Trading Technologies International Inc X_TRADER User Manual Market Window Overview Adding Spacer Rows You can add spacer rows to the Market Grid for the purpose of separating contracts In addition you can add text and color to the spacer rows to label groups of contracts Contract BidOty BidPre AskOty WrkSells NetPos LastPre LastOty Chong ne CME 6E Junog SPacer F Sea ALL ZB acts 117165 5 1171601 25072 1300 gt To add a spacer row 1 Right click the Market Grid 2 Click Insert You successfully added a spacer row gt To add text to a spacer row 1 Right click the spacer row 2 Click Rename 3 Type the text you want to add t
179. ader Profile Setup Page Audit Trail Available Credit Butterfly Condor Matrix Control Panel Create New Strategy Customer Defaults Customer List Fill window Floating Order Entry windows Keyboard Entry on the Order Entry pane Market Explorer Market Window MD Trader Note When Keyboard Trading is enabled in MD Trader the Fi key Lifts the Offer and snift F1 enters a market Buy order Context sensitive help is disabled Open Workspace Order Block Order Book Floating Order Book Order Change Plug Ins Product Group Information Property tabs all Quote Audit Trail Quote Board RTD Save Workspace Spread Matrix Spread Tables Time and Sales Trade Book Note The Help menu on the Control Panel still brings up the What s New and Introduction topics in the online help X_TRADER User Manual 43 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 Getting Started 44 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information CHAPTER 2 Common Administrative Tasks Some functionality in X_TRADER is common among many different screens in the application Follow these procedures to perform common tasks Populating Windows with Contracts Put contracts into various X_TRADER windows Using the TT Minimizer Minimize or display an open X_TRADER window Filtering Overview Control the amount of data disp
180. ader you must set a value in the Order Quantity field to trade Once you send an initial order this field resets itself with the value in the Default Quantity field X_TRADER User Manual 257 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Setting Time In Force By default all orders sent in MD Trader are GTD good until the end of the day However you can override this setting in multiple ways e First you can set each customer s default TIF using the Customer Defaults window This setting overrides the default MD Trader setting Set your Time in Force on the Customer Defaults window e Second you can set GTC as an Order Button in the MD Trading tab on the Prop erties menu Then you can select the button prior to placing your order in MD Trader 99 12612 U a Tm 49 12811 0 Order Buttons Order Types Sticky rox roc Ta 17 12810 0 42 anonn A Click GTC before anorder Set GTC asan Order Button 258 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Text and Grid Colors Many of the grids text boxes and indicators in MD Trader are color coded to give you a visual indication of market position and other information The grid below summarizes the default colors Column or Text Box Associated Colors Working Quantity Column Net Position Box Bid Column Last Traded Quantity Column Foregro
181. al Inc Control Panel Overview Disassociating a Product from a Product Group gt To disassociate a product from a product group 1 From the Control Panel click the Settings menu and choose Product Group Setup The Product Group Information dialog box appears 2 Click the Product Group in any cell on the bottom half of the screen All the product group settings display in the top half of the window Note If no product group display you have no products to disassociate 3 Click the Associate Products button Note If this button is grayed out you have not selected a product group The following screen appears Associate Products to a Product Group Product Group Prod Exchange Product om gt Caen Exchange Product 4 Click the product to be removed 5 Click the Remove button The exchange and product no longer appears on the product list 6 Repeat steps 4 5 to disassociate more products 7 Click OK to exit You successfully disassociated a product from a product group X_TRADER User Manual 81 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Spread Tables Setup Spread tables allow you to define how wide quote spreads should be based on a product s time to expiration and price You may create any number of strategies which are then maintained in a file and are available from a drop down list After creation you can then use the new stra
182. also set further restrictions such as Limit Market or Market to Limit and Time in Force such as GTD 2 x2300 GOLD Apros 2300 Note If you are sending a Limit IT order you must enter a price MD Trader In MD Trader you set LIT or MIT orders from the MD Trading tab on the Properties menu and designate a set number of ticks away from the inside market that your order will rest until touched LIT Limit If Touched ticks from entry price 3 MIT Market If Touched In MD Trader you must enter Buy IT orders below the current inside market and Sell IT orders above the current inside market If you try to enter an IT order incorrectly a red a circle with a slash through it appears X_TRADER User Manual Trading Technologies International Inc Order Types Market A Market order is an order placed without a price with the intention of hitting the best Bid or taking the best Offer currently available in the market Note Support of Market orders varies by exchange Market Grid In the Market Grid you set Market orders on the Order Pane Once selected the price field grays out MD Trader In MD Trader you set Market from the MD Trading tab on the Properties menu Like all order types in MD Trader you can set MKT as an order button Clicking anywhere in the Buy or Sell column sends an order to immediately fill Market On Open MOO An MOO order sends Market orders during the pre opening period i
183. an alter the hotkey in the Hotkey tab on the Properties menu 5 Change the quantity or price 6 Click Buy or Sell to send the order You successfully modified an order with the Order Bar X_TRADER User Manual 209 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Keyboard Trading with the Order Bar You can use the keyboard to interact easily with the Order Bar Use the default hotkeys or customize them to create your own TT Default Map Launch to take Offer Launch to hit Bid Focus on ree quantity field P Decrease Close a value Order Bar Increase Advance Focuson value fields price field Launchto Launchto gt Join Bid Join Ask Input quantity and price Description Hotkey Description Launch to join bid Launch Order Bar as a Buy seeded with and focused on the Bid price Launch to take offer Launch Order Bar as a Buy seeded with and focused on the Ask price Focus on quantity Lets you edit the quantity field Focus on price Lets you edit the price field Advance fields Advance the cursor to the next field for editing Submit order Submit the order as defined and close the Order Bar Close Order Bar Close the Order Bar window Lets you use the keypad to type numbers Decrease value Decreases the numeric value of the field you are editing Increase value Increases the numeric value of the field you are editing Launch to join ask Launch the Order
184. and choose Properties 2 Click the Color tab 3 4 5 Scroll to the General section and click Excel Link In the Color section click a color from the palette Click OK to apply the color and exit the Properties dialog box You successfully changed the default colors for Excel Links in the Market Grid Since this is the default setting all new links are identified by this background color X_TRADER User Manual 201 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Generating an RTD Formula The RTD dialog box lets you copy formulas from the Market Grid or Autotrader and paste them for use in Microsoft Excel where they update dynamically There are several hundred available formulas ranging from the Best Ask Price ASK of a contract to accumulated traded contracts at the current last traded price ACCLTQ The formulas also exist in Native Decimal and Tick amp formats Notes e You must have Microsoft Excel 2002 or later to use formulas generated from the RTD inter face e The RTD Generator includes the correct contract names for contracts with expiry days Example BAX Mar09 now appears as BAX 16Mar09 gt To establish an RTD link 1 2 202 In the Market Grid or Autotrader right click a cell in the row of a contract for which you want to generate a formula Note If Click Trading is enabled do not click in the Bid Ask price columns
185. aotozscanonei nd a sme 3 arecs nooo eps pa Sd Spk sena Za ku 129 Hearing TradeSounds 130 MIDI ISPICAY TABS nti ATEI usus lense Saa akhu heb is T 131 NID OP ORST SBY Ck ssp aoaaa ua sa Zn usta foment ath a Sy th tet heme Ate Neat a tnt ea 2 L Ste Sa ok A 135 MDADVANCEDTAB R ea LLL 138 QUOTE BOARD DAB SS ee a a aa Po a ahah Spt oat Se At noe aah 142 HOTREXSTAB ts tn Cea y Susa A oes lies wie ty boats SA asses ahi uti nts Da S sasana Soca hs nines sa ds alee 143 Hotkey Restricttons c24 ci ssp a hres ote se52 1 ea otter det ile ee es A u du 144 PROPERTIES AUTOSPREADER TAB 145 CONTROL PANEL ICON AND MENU DESCRIPTIONS ss ee 146 BIPESMENUG Sete betes tsa seem be toute tie kde 8 au a tusunku E nati tel nase wide Bile guises stably eels 0 BS 147 SETTINGSSM ENUN op tS ars tatcnne east AA a AA mens AAA aC Zuna sanh antika sa Xun Auth eam ashea ta saa 148 HELP MENU l u victor cats tonne ns als sarna A yo ado din pth U Tas cue ox aslo dfs Pa YY SIT aa 149 ADDING HIGH ANDLOW ALERTS I U L 150 STARTING PLUGINS A O sy EA e a SS a uu A RE AR E TREN E ee a 151 AUDIT TRAIL OVERVIEW I III III I a 155 A D O RDN T T a e tlacin SERS Ao leet Y a Pell Toa diode 38 Sela a e ERS als 156 PIU TORS C I aa een eed eaten Ore nce serena nen ees eth ome eddsemicareac sassa AA aaa 156 AUDIT IRATE EST ORM os tote Seat ot ape I oan tle I a a st ne a a aa 156 A
186. arket Within _ rows from the top bottom If you want MD Trader to flash prior to recentering click to select the Enable Grid Recenter Warning To set this property for all subsequently opened MD Trader windows click to select Set as Global Default Click OK You successfully set Auto Grid Centering Average Price Highlighting When enabled the average price highlighting feature automatically displays the average open price short and long Enabled by default The average open price short highlights bold blue while average open price long highlights bold red Note MD Trader average price rounds longs up and shorts down gt To set average price highlighting 1 6 Open MD Trader 2 Right click anywhere in MD Trader and click Properties 3 4 5 Click the MD Display tab Click to select the Display Average Price of Position option To set this property for all subsequently opened MD Trader windows click to select Set as Global Default Click OK You successfully set Average Price Highlighting X_TRADER User Manual 261 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Consolidating Prices Price consolidation condenses the display of price information in the static price column This lets you view a greater range of prices without clouding the total quantity available You can configure price consolidation to select an offset and an order distr
187. arrow and choose your search filter Type your search criteria in the available space The Instruments field updates as you type From the Instrument Type box click to toggle between the displayed types From the Instruments box press and hold the crru key and click the products you want to open With the cursor over one of the selected products in the Instruments box click and hold the mouse button Continue holding the mouse button and drag the cursor to the open MD Trader When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a window it changes to include a plus sign Release the mouse button You successfully populated MD Trader using drag and drop from the Market Explorer gt To populate MD Trader using drag and drop from the Market Grid 1 2 3 4 If MD Trader is not open use the Control Panel to open it From an open Market Grid click the product and hold the mouse button Continue holding the mouse button and drag the cursor to the open MD Trader When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a window it changes to include a plus sign When the cursor enters MD Trader release the mouse button You successfully populated MD Trader using drag and drop from the Market Grid gt To populate MD Trader using the Market Grid context menu 1 2 In the Mark
188. as your Floating Order Entry Note The first time you launch an MD Trader Floating Order Entry you must put a value in the Maximum Order Quantity field 1 2 3 4 5 From the Control Panel click the Settings menu and choose Properties From the Trading tab in the Floating Order Entry field click to select the MD Trader option Click the MD Trading tab At the top of the screen type a maximum order quantity Click OK You successfully enabled MD Trader as your Floating Order Entry gt To disable Floating Order Entry 1 2 Right click anywhere in the Market Grid Order Book Autotrader Spread Matrix or Quote Board to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns Click Floating Order Entry to disable the feature You successfully disabled Floating Order Entry 178 Floating Order Entry Notes You can use the Market window Order Entry pane the Floating Order Entry or a combination of both The Floating Order Entry populates with data from any and all active windows For example if you have both the Market window Order Entry pane and a Floating Order Entry open when you click a contract bid price both Order Entry panes reflect the contract information However entering a quantity in one pane does not populate the Quantity field of the other To populate multiple Order Entry panes with the same customer default trade information
189. ashes red during a sell Shades and flashes green during a buy Flashes red when a sell initiates the workup Flashes green when a buy initiates the workup X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Send Quote Order Property In the Order Entry tab on the Properties menu a property called Send Quote Order exists C Broker mode When enabled a new order sent to the market replaces the Auto aggressive previous order for that contract on the same side of the Ml Send quote order market se default qty o If you do not enable this property the default order type is Perc is to s wns Leave and previous orders will not be canceled Leave Checkbox The Leave checkbox appears near the Hit and Take buttons on the Order Entry pane When selected new orders for that contract on the same side do not cancel previous orders Use this checkbox to override the global Send Quote Order property Leave _ Dern Notes e Ifthe global Send Quote Order property is not enabled you do not need to check the Leave box as all orders are sent as Leave by default e You can also add a Leave button to MD Trader using the MD Trading tab on the Properties menu e All orders sent by Autotrader and Autospreader are Leave orders regardless of the Send Quote Order property setting Hold In Timer Warning When your bid or offer is the best in the market it is locked into th
190. ately agreed to by both parties and approved by Eurex Order crossing Lets you trade outside the market with a specified party using the Cross tab on the Order Entry pane ITX Countdown Enables an intention to cross countdown in seconds Some exchanges require a countdown to cross trade Cross order type Sets how cross orders are submitted e Sequential fast Default Both orders buy and sell immediately sub mit one after the other On occasion heavy market conditions can lead to routing the orders through different routers As a result the wrong leg might arrive at the exchange host first e Sequential guaranteed Waits for an acknowledgement of the first X_TRADER User Manual 103 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 104 order from the exchange before sending the second order Due to the delay it is possible for a third party to take the offer or bid before both sides are matched Note In both cases if the first side fills partially or completely the second side of the cross order still submits Refer to Cross Trades Overview on page 212 for more information General Description O Set Hold for new Sets Order Entry panes to open with the Hold option checked Enable confirmation Auto mouse move Post trade qty clean up Broker mode Auto aggressive Send quote order Use default qty Persist edits to accoun
191. ator for assistance Creating Links Follow these procedures to establish links to Excel You must have X_TRADER and Excel open to perform these actions e Creating a link from X_TRADER to an Excel worksheet e Creating a link from an Excel worksheet to X_TRADER e Changing the default colors for Excel links in the Market Grid Note When you open a workspace that includes links into X TRADER from a saved Excel file X_TRADER automatically opens the Excel file If your workspace contains links from X_TRADER to Excel the Excel file will not automatically open with the workspace Once you manually open the Excel file the links re establish themselves to the open X_TRADER workspace gt To create a link from X_TRADER to an Excel worksheet 1 ON ON Psl D oo x To copy and paste link one block of data make sure your Market Grid and Excel pricing model col umns ate in the same order or repeat the steps below to copy and paste links for each column of data In the Market Grid click the top left cell of the desired data and hold the mouse button down while dragging the mouse to the bottom right cell of the desired data Right click within the selected area to access the context menu and click Copy Open your Excel model Right click in the cell you want to paste the data and click Paste Special From the Paste Special dialog box select the Paste Link option button By default the data pastes as Unicode Text Click OK to close t
192. aving a workspace Managing a startup workspace Fixing a workspace Deleting a workspace Multiple Workspaces 68 You can create as many workspaces as you want Each workspace is saved on your workstation s hard drive and are retained after an upgrade Workspace files save to lt root drive gt tt datfiles TTCONFIG The workspace folder is named the same as your workspace Use multiple workspaces to e Create separate workspaces for different markets e Reflect your changing trading environment e Create a workspace that has a preformatted Fill window set to print specific infor mation Note If you open a workspace change it and save it under a different name the saved and closed workspace retains its settings X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Creating a Workspace A workspace is just a snapshot of your X TRADER desktop The procedure below walks you through steps used to customize your workspace However what is in your workspace is completely up to you s Warning Close the Market Depth feature in the Market Grid before saving the workspace Leaving Market Depth open may render the feature temporarily inoperable when you reopen the workspace gt To create a personalized workspace 1 Set your default visible column preferences using Properties dialog box tabs Crip If you plan to set up multiple workspaces with the same default columns save time
193. ays a cell at the bottom of each contract e Both Displays both the P row and bottom cell Butterfly Condor Description Matrix Displays a vertical Net Pos column before the contract Enabled by default X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Example Spread Matrix Outright Price Display The following screen displays the outright prices of a calendar spread along the top and the diagonal of the matrix To enable this option go to the Spread Matrix tab on the Properties menu In the Display Outright Prices section click Both OO 888 R O Lie Cancel ALL Cancel Spreads Cancel Outrights 13276 0 13280 0 133150 132778 13276 0 13272 0 1s789 13280 0 amt 138182 E Tasa 10 a see i E e 48 E F 23 29 15 132720 132760 10 X_TRADER User Manual 123 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Time and Sales Tab The Time and Sales tab sets properties for the Time and Sales window Display Forit b Ana L Grid lines V Highlight quantities gt History 7 Retain history Masmum hle sae IMB Number of days to save files 1 5 Restore Defaults Sets the font properties attributed to the Time and Sales window Grid Lines Displays the grid lines in the Time and Sales window when enabled Highlight Sets the quantity at which time and sales row data is highl
194. ber of days to save files is 5 days Note Time and Sales files older than the configured default limit are deleted at startup If you want to archive these files save them to another directory before they are deleted Use the Time and Sales tab on the Properties menu to perform these procedures e Setting how Time and Sales data files are saved e Archiving the csv file before it is deleted gt To set how Time and Sales data files are saved 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Time and Sales tab 3 4 5 Enter a value in the Maximum File Size box maximum is 250 MB Enter the number of days to automatically save the files maximum is 5 days Click on OK to close the Properties menu and activate the settings You successfully configured saved Time and Sales data files gt To archive the csv file before it is deleted 1 6 7 From your desktop right click the Start Menu and choose Explore 2 Under your C drive double click the tt folder 3 4 5 Double click the datfiles folder Double click the tsdata folder Right click the TAS Data_YYYYMMDD_000001 csv file and click Copy Note Where 000001 stands for the session opened on YYYYMMDD the Year Month and Day Navigate to the folder you want to save the file in Right click an open space in the new folder and click Paste You successfully archived the csv file X_TRADER User Manua
195. board trading is enabled you can load the net position in the Order Entry field using the keyboard Note You can change the hotkeys associated with these commands gt To load the Net Position in the Order Entry field 1 Enable keyboard trading 2 Press the r key The Order Entry field is populated with the net position in order to go flat in the market You successfully loaded the net position in the Order Entry field Sending a Market Order Using the Keyboard In MD Trader once keyboard trading is enabled you can enter a market order using the keyboard Note You can change the hotkeys associated with these commands gt To send a market order 1 Enable keyboard trading 2 Press the snhift F1 key The only time in force supported is a Good Till Day GTD order and the only order restriction you can use is Immediate or Cancel IOC available from the button in MD Trader The quantity sold would be based on the amount in the order quantity field or on the preset default order quantity You successfully sent a market order Setting the Limit Price Using the Keyboard In MD Trader once keyboard trading is enabled you can set the limit price position of the cursor for either the buy or sell side with the following keys Note You can change the hotkeys associated with these commands Center buy side cursor Increase buy side cursor Decrease buy side cursor Center sell side cursor Increase sell side cursor
196. by setting your default columns and saving them in a workspace Skip to step 5 Then continue with step 2 and create your second workspace with your default columns set 2 Open the products and windows you want open on your desktop 3 Adjust the window sizes filters fonts grids sounds and colors to your liking 4 Adjust the placement of the windows on your screen Note Your saved workspace remembers the windows you minimize 5 From the Control Panel click the File menu and choose Save As Or From the Control Panel click the icon 6 Type a name for the workspace and click OK Note Your workspace name must adhere to your Operating System s naming conventions You successfully created a personalized workspace You can reopen this workspace at any time X_TRADER User Manual 69 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Saving a Workspace If you have a workspace open the workspace name appears in the Control Panel titlebar Any changes you make save under this name by default However if you opened an existing workspace to create a new workspace make sure you save the new workspace under a new name to retain the settings in your original workspace Follow these procedures to save a workspace e Saving a workspace e Saving a workspace under a new name gt To save a workspace 1 From the Control Panel click the File menu and choose Save Workspace Or
197. cases your orders work until they trade you cancel them or the time in force is met Click the TIF button to toggle between your choices GTD Good Til Day Works until the current trading session ends Enabled by default GTC Good Til Cancel Works until the contract expires GIS Good In Session Works until the contract expires within the ses sion or the trading session ends Some exchanges like Euronext have products with different trading sessions in one day e Date Works until the expiration date Click the second button Limit to toggle between Limit and Market order types e Limit Works at a specific price e Market Works the inside market Field Description O Z oo O Customer Selection List This field lists the customer profile for which ETE the SEL box is selected in the Customer Defaults window rea noe Note You can immediately trade with the lt Default gt profile as long as you set up an account in its row X_TRADER User Manual 173 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Field Description Order Type list Sets available restriction types including e None No additional restrictions on the order e Block Eurex Block Trades For Block trades on LIFFE refer to Wholesale Trading Overview on page 381 Block trades are high vol ume trades whose price has been separately agreed to by both parties outside of the
198. ce you close the window these messages are not saved You can resize the window and save it with your workspace When you reopen the workspace the Admin Alert Messages window appears but past messages do not reappear X_TRADER User Manual 101 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Order Entry Tab The Order Entry tab sets properties for the Order Entry pane on the Market window Order Entry Enable order types C Set Hold for new windows BL z MLM Enable confirmation 1 Block 7 Moc C Auto mouse move FOK z Moo Post trade aty clean up ceberg MJ MTL Broker mode My F Stop Z Trailing Stop Votatifly s Auto aggressive Send quote order lt lt lt lt lt lt Use default aty 2 v Persist edits to account number Dogo i lt K Order Ber to seed zero maket gly exceeds max qy Cross orders Order crossing JIT Countdown Cross order type Sequential guaranteed Sequentia fast Customer Defaults c t datfiles TT CONFIG Customer Defaults Enable Order Description Types Enables Best Limit BL lets you join the best bid or offer without entering a price Available on TOCOM Enables Eurex Block Trades For Block trades on LIFFE refer to Wholesale Trading Overview on page 381 Block trades are high volume trades whose price has been separately agreed to by both pa
199. cessfully submitted an Exchange for Swap trade 394 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Flex Options Overview FLEX orders are essentially FTSE 100 options except that any expiration day and exercise price can be specified The trade submission and authorization process is only semi automated Therefore completing a flex options trade requires manual intervention by an exchange official Use the Flex Options window to submit a flex options trade r FLEX Option Trades Strategy Code Delta 0 100 g Component List Commodity Exercise Pr ContractTyp Expiry Date Buy Sell aty Price Flex Options Window General Descriptions Fields Strategy Any LIFFE recognized strategy code Code Delta of the option If the trade contains the underlying component LFZ FLX its value should be 1 100 If not its value should be zero Up to 5 components can be defined in a FLEX trade For each the following parameters exist Commodity The commodity code Z for FTSE 100 FLX for the under lying Exercise Price The price the contract can be exercised Contract Type Call Put or Future Expiration Date Date of expiration for the particular leg Buy Sell Whether it is being bought or sold Qty Quantity traded Price Price of the component X_TRADER User Manual 395 Trading Technologies International Inc Proprietary and Confidential
200. ck a single fill or select mul tiple fills and choose this option The C column displays a hyphen for trades confirmed by you and an equal sign for fills confirmed by another trader Show Fast Fills Displays partial information about the order Fast Fills are enabled by default but only offered by some exchanges Scrolling Causes the window to jump to a new entry Ena bled by default Auto Filters Enables Auto Filters which filter the data by selecting a customer from the Customer List window Clear Filter Removes the filter from the selected cell Clear All Filters Displays all available data Copy Places selected data on a clipboard for pasting into another program e g Excel Paste Inserts copied data into a selected cell Export All Rows Collects all the data in a file whose name type and location you configure Export Selected Rows Collects the data in highlighted rows into file whose name type and location you configure Formatting Lets you customize fonts and borders Hide Hides the selected row s or column s Show Hide Columns Lets you select which columns to show Trading Technologies International Inc Find Control Panel Add Manual Fill Delete Manual Fill s Confirm Fills Show Fast Fills Scrolling Auto Filters Clear Filter Clear All Filters Copy Paste Export All Rows Export Selected Rows Formatting Hide Show Hide Columns X_TRADER User Ma
201. cked your screen X_TRADER User Manual 49 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Filtering Overview Use filters to control the amount of data displayed in X_ TRADER windows Example Filtering on product FGBL and action Sell eliminates extraneous orders from the grid Any combination of filters can be set to make your workspace unique Any combination of filters can be set to make your workspace unique Once you set filters the way you want them save your workspace Refer to Workspace Setup on page 68 Filters e Can be set in one or more columns in most windows e Generally only affect the window in which you set them e Can be set globally using the Auto Filter option in a window s context menu This filters the Order Book Fill Trade Book and Audit Trail windows by a particular customer Refer to Effects of Filters on page 53 for more information Follow these procedures to manage filters e Setting a Column Filter e Clearing a Column Filter e Clearing All Filters e Setting Auto Filters Setting a Column Filter A o0 oog ox v te a te al tr A i te lt gt gt To set a column filter 1 Click the box immediately below any column heading A list of all currently referenced variables for the selected column displays 2 Select one or more of the variables to set the filter 3 Click OK to activate the filter When you set a filter the bo
202. click in the row containing the product Right click in the row to access the context menu Highlight Wholesale and click Block The Block Trade window displays The Series Month and AMR fields display data from the Market Grid 7 Inthe Price and Quantity fields type the appropriate values 8 Complete steps 9 13 in both the Buyer and Seller sections 9 In both Ace Code fields type the account code for this trade 10 11 12 13 14 15 Note Valid entries include H House L Local S Segregated or N Non segregated In both Open Close fields type O or C to indicate whether this trade opens or closes a position In both CTI fields type the appropriate clearing code Note Valid entries include 1 2 3 4 U for unassigned and A for allocation In both Posting Code fields only enter a value if the trade is for the Euronext exchange In both Account fields type the account numbers if applicable If you are sending this as a cross order click to select Market Maker Cross or Guaranteed Cross ing If not click to select Block Click Send to submit the order You successfully submitted a block trade X_TRADER User Manual 385 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Basis Trade Overview 386 Basis trades are strategies that incorporate a futures leg and underlying or cash leg Use the Basis Trade window to submit a basis trad
203. closed Quantity Black Highlight EPIQ Default Colors Colors Dark gray with black text EPIQ Offer Dark gray with black text Last Traded Price Default Colors Last Traded Price Red with black text Down Last Traded Price White with black text Unchanged Last Traded Price Up Green with black text Mouse Hover High Default Colors light Net Change Default Colors OO O Colors Net Change Down a with black text Background Net Change White with black text Unchanged Back ground Net Change Up Back Green with black text Position Flat White with black text Position Long Blue with white text Position Short Red with black text Sell Side Blank Sell Side Depth Red with black text Working Orders Default Colors Working Buy Order Dark Gray with blue text Working Sell Order Dark Gray with red text X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Restore Defaults Description Button Restore Defaults Changes the color selections to what they were on first install X_TRADER User Manual 137 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 MD Advanced Tab Use the MD Advanced tab to enable and define the User Defined Price UDP column This column appears to the left of the standard price column and can be set to show the Net Change Price As Yield or Yield To Maturity for a given contract N
204. cludes a number of useful methods for customizing its look and feel You can customize your windows and save them in a workspace so that each time you launch X_TRADER you open the workspace and avoid having to customize each individual window s appearance Refer to Workspace Setup on page 68 Formatting Font Color Font a o Outline T Agency FB Normal N Italic T Arial Bold T Arial Black Bold Italic Preview AaBbCcxXxYyZz Follow these procedures to format fonts e Changing the Font Style Change the font outline and size of the typeface displayed in your windows e Changing Individual Colors of Grids or Text Change the color of text and window back grounds Change the color of rows columns or individual cells X_TRADER User Manual 53 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Changing the Font Style Change the font outline and size of the typeface displayed in your windows gt To change the font style 1 Select the area you want to change or click the top left column heading to select the entire grid 2 Right click in the window to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 3 Click Formatting The Grid Styles dialog box appears 4 Click the Font tab and make your changes The results display in the Preview box 5 Click OK The new font options are app
205. contract SEP06 _ DEC 06 Sa aT Click the RFQ button to send a request for quote on any contract By default clicking on the button sends a generic two sided indicative RFQ with no size You successfully turned quoting on for a single window 232 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Editing Generating and Sending Quotes Follow these procedures to edit generate and send quotes e Generating quotes e Editing a quote change pricing or other information e Sending a single quote e Sending mass quotes gt To generate quotes Make sure quoting is enabled and click Test Quotes or Click the RFQ button to send a request for quote on any contract By default clicking on the button sends a generic two sided indicative RFQ with no size You successfully generated quotes gt To edit a quote change pricing or other information 1 Directly from the Market Grid double click the BQP Bid Quote Price or AQP Ask Quote Price 2 Edit the price in the Send Quote dialog box You successfully edited a quote gt To send a single quote 1 Click QAct to send an individual quote to market The Send Quote dialog box opens so that you can edit and confirm the quote 2 Click Add to send the quote to market The test quote columns continue to display but the cell for the sent quote is displayed in blue to indicate that the quote hit the market You succ
206. cts e Populating Quote Board from Market Explorer e Populate Quote Board using drag and drop from Market Explorer e Populating Quote Board using drag and drop from the Market Grid e Populating Quote Board using the Market Grid context menu gt To populate Quote Board from Market Explorer 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon 2 If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 3 In the Productssection click the down arrow and choose your search filter 4 Type your search criteria in the available space The Instruments field updates as you type 5 From the Instrument Type box click to toggle between the displayed types 6 Press and hold the crRr key and click the products you want to open or To open all products in the Instruments field click the gt gt button and skip to step 8 7 Click the gt button to transfer the products from the Instruments box to the Selected Instruments box 8 Click the Function box in the upper right corner of the Market Explorer and choose Quote Board 9 Click Start You successfully populated Quote Board from Market Explorer 320 X_TRADER User Manual Trading Technologies International Inc Quote Board Overview gt To populate Quote Board using drag and drop from Market Explorer 1 2 10 If Quote Board is n
207. d quantity or price using the mouse quotes row heights spread matrix strategies text colors text style toolbar size 214 253 253 209 336 143 283 X_TRADER User Manual Trading Technologies International Inc trigger price orders in the order book viewable market grid columns window color working order spread matrix working orders in md trader Click Trading butterfly condor matrix disable enable set default properties spread matrix trading Cloning md trader Closing the Order Entry Pane Color tab changing colors of windows or text Colors coding market depth creating custom creating custom md trader quote board recognizing in time and sales Column descriptions fill window order book trade book Command Bar Common Administrative Tasks changing the height or rows changing the width of columns filtering formatting fonts formatting grids hiding rows or columns moving rows or columns populating windows with contracts printing in X_TRADER resizing a window grid restoring hidden rows or columns setting the default visible columns using the frame command bar Confirming the status of market orders Consolidating Prices Context Sensitive Help Context Menus audit trail fast fills pane fills pane market grid md trader order book position pane X_TRADER User Manual 54 54 54 337 186 119 312 255 215 311 215 215 216 311 216 252 184 11
208. d e Viewing Price Trend Indicators e Opening Wholesale Orders e Using the Market Depth feature e Using Excel for Theoretical and Implied Pricing e Generating an RTD Formula e Viewing your Estimated Position In Queue Customizing the Viewable Market Grid Columns 186 You can customize the viewable Market Grid columns in the following ways e Define default visible columns via the Trading tab on the Properties menu This ensures every new Market Grid displays only the default columns of information e Use a pre defined Layout option on the context menu e Use the Show Hide option on the context menu to include the columns you want Note The Eurex exchange displays only four 4 digits in inside market Therefore the maximum Bid Ask Quantity is 9999 This is a limitation of the Eurex API for UserDevices and MISSes If the inside market is greater than 9999 and you wish to view that data open Market Depth feature in the Market Grid X_TRADER User Manual Trading Technologies International Inc Market Window Overview Market Grid Pane Field Descriptions The Market Grid columns are defined as follows 66 MARO sun Ball Grid Grid2 Grid 3 l Contract The traded product s exchange symbol and the month and year of expiration Del Srs A button used to delete all delete all orders for the row Note This feature behaves differently for an exchange trader versus a proxy TTORD trader e Ifan exchang
209. d Ask quote types 12 In the Auto Quote field select On or Off to set up automatic quoting in response to an RFQ 13 In the Auto Quote Delay Secs field enter the number of seconds the quote is delayed before being sent after an RFQ is received 14 In the Clearing Member field enter your clearing member ID 15 In the Account field enter the account type 16 In the Quote Viability Checks field you can select from the following checks e Cross Check The quote is not sent if the bid is greater than the current market ask price or the ask is less than the current market bid e Inside Check The quote is not sent if the bid is greater than the current bid or the ask is less than the current ask This check does not apply when you select the Dime quote type e At Mkt Check The quote is not sent when the bid and or ask are equal to the current market price e Price Check The quote is not sent if there is no current bid or ask price 17 Click Add Group before closing the window The new Product Group displays in the bottom portion of the window 18 After adding deleting or changing product group information click the appropriate button Add Change Delete 19 Associate the products as needed 20 Click OK to close the product window and save your changes You successfully added a product group 78 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Changing a Product Group Settin
210. d Confidential Information Chapter 3 Control Panel Overview 154 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information CHAPTER 4 Audit Trail Overview Use the Audit Trail window to track messages from X_TRADER the TT Gateways and exchanges to which you are logged on Audit Trail messages save to the directory lt root drive gt tt logfiles AuditLog The naming convention for the files is YYYY MM DD_n mdb Where n represents the file number for the day AuditTrail Bag CER ee T enen ste eaten 9 o Pree cease una Seem tre T Te Ea s Order wes filed or deleted The Audit Trail window displays the following information for the current day e Order messages Messages regarding fills partial fills add change delete orders inquiries and mes sages related to your Group ID e Exchange Announcements Announcements from an exchange regarding busted trades and pre post opening closing product activity e Gateway Alerts Information concerning the status of server host processes e Error messages Notifications of an invalid action For details regarding these messages refer to Audit Trail Message Types on page 159 For details regarding storage limits refer to Storing Files on page 162 gt To open the Audit Trail 1 From the Control Panel click the Window menu and choose Audit Trail Or 2 From the Control Panel click the button
211. d Up To price and criteria you enter in the top row e Entering 90 in the cell below the 30 creates a 31 to 90 day time to expiration period for the Bid Up To price and criteria you enter in the second row e Entering 99999 in the cell below the 90 creates the 91 99999 day time period for the Bid Up To price and criteria you enter in the third row In the Bid Up To column click in the first cell and type the maximum amount to bid for the number of days you set in column A e g 30 days In the Maximum Spread column click the first cell and type the largest spread to be used in ticks by default Note Setting the Bid Up To price to 1000 and the Maximum Spread to 4 means for all prices up to 1000 the Maximum Spread for any quote is 4 ticks wide In the Ticks Percent column click the down arrow and select Ticks or Percent to measure the spread by To set further bidding parameters for this spread table click the next available row in the Days of Expiration column and repeat steps 5 8 Notes e You must increase the size of the Days to Expiration and Bid Up to columns when you add a new row e Use 99999 to indicate or longer A Days to Expiration last entry of 30 goes out to 30 days If you set the next cell to 99999 you create a time period of 31 days or longer 10 To verify your settings click any cell in the Days to Expiration column The text above the Bid Up To cell confirms the exact time period for the bidding pa
212. d disclosed quantity results in an odd lot it rounds up to the closest round lot Also when using a percentage of the total order an Iceberg order may result in fractional lots If this occurs X_TRADER executes your order according to the following rules e Ifthe order is n lt 1 it rounds up to 1 e Ifthe order is lt n 5 it rounds down e Ifthe order is gt n 5 it rounds up Procedure Follow this procedure to place Iceberg orders X_TRADER User Manual Trading Technologies International Inc Order Types gt To place an Iceberg order 1 If you have a specific customer account you want to trade for select it now Note You can setup customer profiles or use the lt Default gt profile to trade with From the Market Grid click in the appropriate expiration strike row on the bid or ask side of the screen If you click the BidQty or AskQty cells the Quantity and Price fields display the current quantity and price information The contract information appears in the Order Summary field or If you click the BidPre or AskPre or LastPre cells the Price field displays the current price but the Quantity field remains zero 0 The contract information appears in the Order Summary field 3 Modify order information if necessary Click the Order Restriction menu and select Iceberg The Disclose field appears Click Disclose Click Qty or Percentage 7 Set the quantity as a number or as a percentage of to
213. d on infor mation obtained from the Customer Defaults Settings window Create Strategy Creates multiple legged spreads strips packs and bun dles Quote Audit Trail Monitors addition deletion and related error mes sages for both manual and autoquoting for Market Makers You can also monitor both inbound and outbound RFQs Spread Matrix Opens the Spread Matrix window X_TRADER User Manual Trading Technologies International Inc P BB e 8 a a x ki A R el me g lt X_TRADER User Manual Market Explorer Market Window Order Book Fill Window Trade Book Audit Trail Time and Sales Customer List Create Strategy Quote Audit Trail Spread Matrix Autotrader Autospreader Available Credit MD Trader Alerts Manager Quote Board EBS Quote Board X_STUDY Plug ins TT Minimizer Control Panel Overview Autospreader Sets up two sided spreads that trade automatically in a three pane window Note You need an X_TRADER Pro license to use Autospreader Autotrader Creates and maintains a two sided market for selected sets of contracts and allows automatic bids and offers Note You need an X_TRADER Pro license to use Autotrader Available Credit Displays the amount of credit left in your trading account A green total indicates a positive balance a red total indicates a deficit MD Trader Displays the market depth for a given product and allows you to buy or sell pro
214. d sales in MD Trader e Adding time and sales to MD Trader e Showing the time column e Removing time and sales from MD Trader e Moving the time and sales columns Bo a l TTSIM ES TT Mar03 T wan ua un ua an m 2 i 1 To show time and sales select Time 15 15 36 amp Sales from the context menu 2 The time and sales pane shows price quantity and time in that order 3 The time column is initially hidden Right click to Show Hide columns 4 Time is to the millisecond hh mm ss mmm 5 Blue text means the ask was lifted 6 Red text means the bid was hit 378 15 71 268 15 110 15 378 15 00 21 663 12 15 00 21 289 366 15 00 21 273 12 14 59 59 464 14 59 59 449 134 14 59 59 261 otoit 244 14 59 59 261 Smal Mode 256 14 59 58 949 122 14 59 58 949 Properties 378 14 59 58 793 134 14 59 58 262 244 14 59 58 262 US Pa 6 708 004 46772 1n gt To add time and sales to MD Trader 1 Right click an open MD Trader window 2 Click Time amp Sales You successfully added time and sales to MD Trader 274 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview gt To show the Time column 1 Right click the time and sales pane and click Select Columns 2 Click to select the Time column 3 Click OK You successfully shown the Time column gt To remove time and sales from MD Trader Right click an open MD Trader window and deselect Time amp Sales o
215. de Book Fills Pane Trader s or risk manager s proxy group ID Order Book Beamnle Bakar adan ay Trade Book Fills Pane Trader s or risk manager s proxy trader ID Order Book Trade Book Fills Pane Trader s or risk manager s proxy member ID Order Book Example Broker s client TTORD Trade Book ee ee ells Pane Order Book Trade Book Fills Pane Example Broker s client SIM Example Broker s client 123 The status of the order e g Working Change Deleting Inquiry Note If the order is in an unknown state it is appended with a question mark and the colors are inverted Order Book Trade Book Fills Pane Order Book Trade Book Fills Pane Work Qty The working quantity of the order Order Book X_TRADER User Manual 441 Trading Technologies International Inc Proprietary and Confidential Information Appendix Grid Column Descriptions 442 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information Index A About this manual 25 Accepting a Eurex Block or Volatility Order 220 Accessing a functional window 64 a functional window from market explorer 168 context sensitve help 43 fast fills pane 363 fill window 347 keyboard entry window 222 md trader 245 order book 327 order change dialog box 224 quote audit trail 234 screen minimizer 48 time and sales 371 trade book 365 wholesale orders 197 wh
216. de quantity 1 Open MD Trader Right click anywhere in MD Trader and click Properties 2 3 Inthe Order Parameter section type a maximum order quantity 4 To set this property for all subsequently opened MD Trader windows click to select Set as Global Default 5 Click OK You successfully set the maximum trade quantity Trading Out of a Position 270 The Trade Out feature lets you flatten your position Before MD Trader submits an offsetting order it sends delete requests for all working orders for that contract You need to send a second tradeout request if an existing working order fills You can trade out of a position using a Limit order or a Market order If you choose to trade out using a Limit order MD Trader determines your position long or short and calculates the ticks to skew off the inside market price at which your position is flattened If long it evaluates the bid price If short it evaluates the ask price Assigning a specific number of ticks to skew ensures your order once entered not necessarily executed is only a pre determined distance from the inside market When you click the TradeOut button you enter a Limit order based on the current price If the market moves and the offsetting price is not available your limit order remains working at the price you entered it Follow these procedures to trade out of a position e Setting the Tradeout method locally e Trading out of a position usin
217. ded Quantity column in the Market and Fill windows Wholesale orders do not appear in the Order Book window gt To submit an Against Actual trade L Ot a ae es Log into the appropriate exchange Open the Market Explorer and select a product Open a Market window for the selected product In the Market window click in the row containing the product Right click in the row to access the context menu Highlight Wholesale and click Against Actual The Against Actual window displays The Series Month and AMR fields display data from the Market Grid 7 In the Price and Quantity fields type the appropriate values 8 Complete steps 9 17 in both the Buyer and Seller sections 9 In both Ace Code fields type the account code for this trade 10 11 12 13 14 15 16 17 18 Note Valid entries include H House L Local S Segregated or N Non segregated In both Open Close fields type O or C to indicate whether this trade opens or closes a position In both ISIN fields type the International Security Identification Number In both Cash Prc fields type the price for the underlying agreed to by buyer and seller In both HR fields identify the methodology used to determine the price for the underlying com ponent Note Valid entries include P Price factor or duration method M Modified duration method S Sensitivity spread ratio and D Delta neutral ratio In both Reference fields identif
218. delays that may occur while waiting for a guaranteed fill For example fast fills for Eurex are composed of two items e Immediate executed quantities resulting from an order entered via X_TRADER e Eurex trade confirmations sent to X_TRADER for resting orders which are typically sent immediately after a match occurs gt To access the Fast Fills Pane 1 Right click either the Fills pane or the Position pane to access the context menu 2 Click Show Fast Fills The Fast Fills pane opens on the bottom of the Fill window You successfully accessed the Fast Fills pane gt To remove Fast Fills from a position 1 Right click a cell in the Position pane to access the context menu 2 Click Remove Fast Fills from Position You successfully removed Fast Fills from a position Fast Fill Notes Inherent issues exist with the use of Fast Fills e Exchanges do not typically guarantee Fast Fills e Fast Fills transmit to all traders with the same Group ID Example With a Trader ID MemberIDGroupIDTraderID gt e Fast Fills move from the Fast Fills pane to the Fills pane upon receipt of the guar anteed fill from the exchange e Fast Fills do NOT reflect in the position calculations e Fast Fills do NOT update the Order Book because a given order cannot be tied to the limited information they contain When all filters clear the Fast Fills pane and FFNet column enable All fast fills that arrived while the filters were in use now disp
219. delete cancel replace or change a working order without accessing the Order Book P To use the Order Change dialog box 1 Hold down the ctr key and click in a cell where a working order exists The Order Change dialog box appears showing the order closest to the market I6AMAROS 224 13 ET order Change Al wv 6A MAROS GTD LIMIT Acct cust BO2E37 ie 7633 I LIMIT v GTD v Delete _ Cancel Replace Cancel Replace Change Cancel 2 Use the Page up or Page Down arrows to scroll through the orders and select the working order you want to change BUY v 6A MAROS GTD LIMIT Acct cust3 B02E32 10 gt 7631 LIMIT v GTD_ v Delete CancelReplace Change Cancel_ 3 Make any changes to the order and click the appropriate button Delete Cancel Replace Change or Cancel Note You cannot change the Limit Market or order type i e GTD fields You successfully used the Order Change dialog box 224 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Setting Implieds Implied prices and quantities derive from direct orders in a combination of outright contracts and spreads strategies Implied pricing evolved at exchanges that trade contracts spreads and strategies involving different combinations of the contract months Example A bid in one contract month and an offer in a second contract month combine to imply a bid in
220. deleted a single order P To delete all Bids or all Offers If you have the Delete Bid Ask property enabled e Click the blue Delete n to delete all workig bids e Click the red Delete n to delete all working offers You successfully deleted all Bids or all Offers X_TRADER User Manual 255 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 gt To delete the working quantity of all orders at a given price level Left or right click on any cell in the Working Quantity column If the working quantity is for 50 orders for example in five separate 10 lot orders all five orders delete If there is only a single 50 lot order this single order deletes You successfully deleted the working quantity of all orders at a given price level Reading the Net Change Indicator in MD Trader In MD Trader the Net Change indicator is a small box immediately below the system clock It displays a net change in price for a traded product in the current day measured against the previous day s settlement price If there is no settlement price the closing price is used The net change is color coded e red for a negative change e green for a positive change The unit of measure is in tick increments for the product Selecting a Customer Profile in MD Trader Certain markets require a customer name be selected before any trades enter the market Example CME requires it The customer profile is
221. der Deleted or Filled message appears in the Audit Trail after a delete or change request the order was already deleted or filled by the exchange X_TRADER User Manual 341 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Floating Order Book Overview 342 The Floating Order Book is visible in MD Trader Market Grid and the Order Book It displays an interactive list of your working orders when you hover over or click on a product for which you have orders Set the Floating Order Book property in the Trading tab on the Properties menu The Floating Order Book appears under the conditions you specify e Middle click When you click the middle Floating Windows mouse button Order Book Mouse hover lt Disabled gt e Keyboard The Hotkey tab establishes Midde cick Keyboard Mouse hover launch button See procedure under Key board Trading in the Floating Order Book on page 345 e Mouse hover When you hover the cursor over the product When the Floating Order Book appears it looks like this Dell Contract Qty Chg Price TIF Acct Type Time Mg 64 JUNOG 10 GTD asd Limit Te 6A JUNOG 5 GTD tp001001 Limit Notes e You cannot choose which columns appear in the Floating Order Book However col umns with no data hide automatically By default orders sort in descending order by the Time Stamp column e Ifmore than ten orders exist a scroll
222. des trading types Window menu Working up orders Workspace creating deleting fixing introduction multiple opening saving setup startup X_TRADER automatic shutdown exiting introduction login printing trading system universal login X_TRADER Pro Trading Technologies International Inc Proprietary and Confidential Information 203 293 293 198 357 377 272 305 220 221 305 40 68 42 42 25 30 62 27 34 27 38 455 Index Yield Yield Yield 138 456 X_TRADER User Manual Trading Technologies International Inc
223. dicates all services are down A yellow Cy light indicates one or more services may be running but not active This may be normal for your trading network Market Explorer r Access Market Explorer through the Window menu or the toolbar jE Market Explorer a 1con Products The left side of the screen lists the exchanges and color codes STARTS WITH v their availability C Search Descriptions Exchanges CME eCBOT Eurex EurexUS LIFFE TTSIM Guardian Access Guardian by double clicking the z icon in your BGMMetr P PPIP system tray at the bottom of your screen File Tools Mode Config Applications and Exchange Servers Il WAN Routing The left side of the screen lists the exchanges and color ES Applications on 177 77 77 codes their availability 3 46 4M X_TRADER User Manual 37 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 X_TRADER Pro License Autospreader and Autotrader are only available with anX_TRADER Pro license Although both modules install during the regular X_ TRA DER installation process they require a separate X TRADER Pro license to function These tools are not available for use unless you purchase this separate license Contact a Trading Technologies representative or your System Administrator for further details Once you obtain an X_TRADER Pro license you must activate the license using the Control Panel Once ac
224. duct B gt No month or year The Trade Seq is 2 The Counter Party is Trader 3 s ITM The Password is the same as above Trader 2 enters a half trade to Sell Product A Trader 2 fills in the Seller section The Buyer section is left blank The Matching Contract is lt Product A gt No month or year The Trade Seq is 3 The Counter Party is Trader 1 s ITM The Password is the same as above Trader 3 enters a half trade to Sell Product B Trader 3 fills in the Seller section The Buyer section is left blank The Matching Contract is lt Product B gt No month or year The Trade Seq is 4 The Counter Party is Trader 1 s ITM The Password is the same as above X_TRADER User Manual 403 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 One Trader Example Trader enters a half trade to Buy Product A e The Seller section is completed along with the Buyer section e The Matching Contract is lt Product A gt No month or year e The Trade Seq is 1 e The Counter Party is Trader 2 s ITM e The Password is numeric Trader 1 enters a half trade to Buy Product B e The Seller section is completed along with the Buyer section e The Matching Contract is lt Product A gt No month or year e The Trade Seq is 2 e The Counter Party is Trader 3 s ITM e The Password is the same as above 404 X_TRADER User Manual Trading Technologies Interna
225. ducts you can choose to display quantities in Contracts or Flow using the Trading tab on the Properties menu When this property changes all filters clear in the Order Book Trade Book Time and Sales and Fill windows Notes e The Show Quantity as property has no impact on displayed quantities for prod ucts with one delivery period e Maximum Order Qty and Use Default Qty options always refer to contracts For example if you want your default quantity for Henry Hub Natural Gas to be 7500 MMBtus you set your Use Default Qty to 3 e Ifyou enter an invalid energy quantity in most windows the order is not sent and you receive an invalid order quantity message in the Audit Trail If you enter an invalid energy quantity in MD Trader the order quantity is truncated to a valid order quantity and the order is sent to the exchange Switching Between Contracts and Flow You can use Autotrader to trade energy products on the ICE exchange If you use Autotrader or Excel links switching between Flow and Contracts may cause equations to be incorrect If you try to switch between Flow and Contracts while Autotrader is active a dialog box displays that states Warning Changing this property may impact Excel amp Autotrader formulas Are you sure you want to continue If you click Yes X_TRADER deactivates Autotrader and pulls its orders from the market However Excel links remain active X_TRADER User Manual 429 Trading Techn
226. ducts with one click Alerts Manager Assigns alert sounds to contracts so X_TRADER plays a sound whenever the contract trades above its high price or below its low price for the day Quote Board Displays the open high low last net change trader posi tion and P L for several markets at once X_STUDY Lets you start stop X_ STUDY and access its components Refer to the X_ STUDY User Manual for an overview Plug ins Starts X_ TRADER Plug in applications Note To use each individual Plug in you must obtain proper licensing 65 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 The Toolbar You can access most X_TRADER functions using the Toolbar Q 112 B El 2 8 aa HAERE Open Workspace Displays a list of workspace names to open Save Workspace Saves your current workspace under the workspace name that appears in the Control Panel title bar If no name appears in the Control Panel title bar you are prompted to enter a name Refer to Workspace Setup on page 68 Market Explorer Lists products by exchange marketplace Open one or more functional windows with one or more products Market Window Opens a blank Market Grid with the Order Entry pane on top Used for watching the market and placing orders Order Book Manages your open orders Monitor change or delete orders or perform a status inquiry about any open order Fill Window Lists the current day s trad
227. e For basis trades only the future leg is traded at the exchange The cash leg is traded on a separate exchange which may trade through X_TRADER or another method Therefore the exchange sends trade fill information for both the buy and sell side of the futures leg A fill is not sent for the cash leg Basis Trade Trader Account Open Close ISIN Quantity Cash Pre Transaction Code HR CTI Posting Code Account X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Basis Trade Window The fields in a Basis Trade window vary depending on the type of product or strategy you trade If the product is a strategy the associated legs for that strategy are listed in a set of fields in the lower half of the Basis Trade window The Quantity and Price fields must be filled for each leg of the strategy in order for the trade to be accepted General Descriptions Fields Name and identification of the contract series This fills with the product infor mation in the Market window Maturity month of the contract This fills with the product information in the Mar ket window Auto Market Reference unique exchange specific product identifier This fills with the product information in the Market window Price of the product Quantity Quantity of the product to be traded Transaction A code uniquely identifying the trade Code Buyer Descriptions Seller Fields Trader An exchange
228. e e Using the Keyboard to Enter Orders Order Entry Pane Field Descriptions EE r p ag gam a COR Deil xisto p GEL p08 GT Jimt fo he rr wt 2 Se E a Pia riy r qq w w ous uspatasi Buy B Sell Description These pre set quantity buttons increase the Quantity field by their numeric value The quantity defaults are 1 5 10 100 and 500 Refer to Customizing the Quantity Buttons on page 182 The Clear button deletes numbers from the Quantity field To clear the entire Order Entry pane click Clear below the account type field Description The Order Quantity field is on the left the Price field is on the right To change these fields e Right click to increase the value Left click to decrease the value e Click the up and down arrows e Manually type a value using the keyboard Button Description O Buy and Sell Click these buttons to send an order to market 172 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Field Description i O Order Summary This field displays your order information when you click a row in the Market Grid quantity price product month year time in force order type and order restriction When you click a row with an option this field displays a C for call or a P for put along with the strike price Time in Force TIF is the first button It determines how long your order works in the market In all
229. e P Price factor or duration method M Modified duration method S Sensitivity spread ratio and D Delta neutral ratio In both Reference fields identify the underlying product In both CTI fields type the appropriate clearing code Note Valid entries include 1 2 3 4 U for unassigned and A for allocation In both Posting Code fields only enter a value if the trade is for the Euronext exchange In both Account fields type the account numbers if applicable Click Send to submit the order You successfully submitted a basis trade 388 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Against Actuals Trade Overview Against Actual strategies are for commodities markets that incorporate a futures leg and an underlying commodity leg Use the Against Actuals window to submit an against actuals trade For Against Actual trades only the future leg is traded at the exchange The cash leg is traded on a separate exchange which may be executed through X_ TRADER or another method Therefore the exchange sends trade fill information for both the buy and sell side of the futures leg A fill is not sent for the cash leg The details of the actual buyer and seller are resolved between the exchange and the executing member via a phone call Against Actual Trade Trader Account Open Close Price ISIN Quantity Cash Pre Transaction Code HR Reference CTI Posting Code Account
230. e exchange which can be executed through X_TRADER or another method e Against Actuals Trades Strategies for commodities markets that incorporate a futures leg and an underlying commodity leg Only the future leg is traded at the LIFFE exchange The cash leg is traded on a separate exchange which can be executed through X_TRADER or another method Against Actual trades are only valid for commodities contracts e Exchange for Swap Trades A strategy whereby a position in the underlying is traded for a futures position in two separate transactions e Flex Options Trades FTSE 100 options except that any expiration day and exercise price can be specified Flex Option trades are only valid for the ESX contract at LIFFE Wholesale Trading Types and Supporting Exchanges The following table shows the order types each exchange supports as well as other requirements Wholesale Trades Supported Account CTI Posting Against Flex Guaranteed Market Codes Codes Actuals Options Cross Maker Required Required Required x x x x Euronext Paris Euronext Brussels 382 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Block Trade Overview Block trades are high volume trades in any outright or strategy product Use the Block Trade window to submit a block trade Block Trade Trader Ace Code Open Close CTI Quantity Posting Code Transaction Code Account Bloc
231. e Al Implied Qty dsplay O Tad Qty Implied Qty indicator Implied Oty columns C Set as Global Default Display Tooltips Displays a popup tip when you hover the cursor over select fields Displays the system clock Customer account name High Low for the Displays the Customer List box Adds yellow and red lines to designate the highest and lowest prices at day which the contract traded for the day All prices between the high and low are displayed in a darker gray color EPIQ Column Average price of position X_TRADER User Manual Displays the Estimated Position in Queue EPIQ columns to the left of the bid order column Highlights the average open price long and short in the Price column Note Rounds longs up and shorts down 131 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 132 Display Hide position on right click Highlight inside market Gray out when order server is unavailable Mouse over high lighting Keep MD Trader on top Small MD Trader Hide titlebar but tons Lets you hide your position with a right click on the position field Right click again to show your position Disabled by default Highlights the best bid and best ask Grays out when the order server is down Disabled by default Turns MD Trader gray when the order server is unavailable Enabled by default Highlights the cell as your cu
232. e Change button changes a working order and keeps its exchange generated order number as well as your place in the queue However in the following instances your order will be treated as a cancel replace and sent to the back of the queue e You increase the quantity of the order e You change the price e You change the customer account number e Your request violates the exchange s rules When a change request violates an exchange s rules it is treated as a cancel replace order or rejected The new order returns to the back of the queue and a new order number is usually but not always assigned Notes e Ifa change cancel replace or delete request results in an Order Deleted or Filled message in the Audit Trail the exchange rejected the order because it was already deleted or filled This happens when the receipt of a confirmed fill is delayed or a request to change or delete happens at the same time a confirmed fill is received e In some cases if a partial fill goes through just before a change order the change order seeds with the original quantity gt To change the order quantity 1 Click any cell in the appropriate row to select the order to be changed 2 Click the up or down arrow at the top of the screen to change the order quantity not the working quantity Note If you have been filled on 6 of 10 and now want a total of 8 contracts the change request should be for a total of 8 contracts
233. e Custom colors palette on the left side Click OK On the Color tab the Preview section displays your chosen color Click Apply and then OK to exit You successfully created and used a custom color for X_TRADER windows or text 120 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Spread Matrix Tab The Spread Matrix tab sets properties for the Spread Matrix window Spread Matnx C Spread Matrix auto creation Display V Tooltips Z Cancel order buttons Z LTP Net Change row 7 Oty when hovering over price MILTPAT Color V Impled prices quarkies C Net Change color scheme with actual prices Lapout Oty next to price Oty below price Spread Matrix Z Show net position Display outright prices Acioss the top Along the dagonal Both Butterthy Condor Matre Z Show net position General Description Spread Matrix auto Automatically creates a spread This feature allows you to work with the creation LIFFE exchange to create spreads that may not exist Display Description Tooltips Displays a popup tip when you hover the cursor over select fields Cancel order Displays buttons letting you cancel working spread orders and working buttons outright orders LTP Net Change Displays a row labeled L at the top of your Spread Matrix A Last Pre row column displays in your Butterfly Condor Matrix Enabled by default No
234. e MD Trader and maintain full view of the depth e Resizing MD Trader to fit the window e Resizing the window to fit MD Trader gt To resize the window to fit MD Trader Right click MD Trader to access the context menu and click Size to Fit MD Trader expands to the proper size and removes the scroll bars You successfully resized the grid in MD Trader Using the Mouse to Control the Zoom Feature gt To control the zoom using the mouse wheel 1 Hold down the ctri key on the keyboard 2 Depress and use the mouse wheel to zoom MD Trader in or out 3 Release the ctri key to freeze the view in its current position You successfully controlled the zoom 278 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Keyboard Trading in MD Trader In addition to click trading in MD Trader using a mouse you can use the keyboard to make trades Enabling keyboard trading provides an alternative for entering orders and does not disable the mouse Follow these procedures to manage keyboard trading e Enabling Keyboard Trading e Changing Hotkeys for MD Trader The keyboard hotkeys in MD Trader break into two categories e Function Hotkeys e Main Hotkeys Function Hotkeys The function hotkeys consist of the Esc and F keys at the top of your keyboard TT Default Map Q Q GX GO00 O O Buyatthe Better Join Delete all Deleteall jointhe Betterthe sar ae Offer the Bid the Bid Bids Combo Better O
235. e Open e Pre close e Close Trading states for ICE products include e Open e Close All changes in trading states are reflected in X_TRADER Fill Window and P amp L To accurately express your position and P amp L for all products that have multiple delivery periods a new column called Lots is available in the Position Pane of the Fill window The column is hidden by default and can be shown using the Position Pane context menu Notes e Contract size and number of lots may affect your P amp L in ticks versus your P amp L in currency Your P amp L in ticks may display positively or negatively when your P amp L in currency may actually be flat e For all ICE Futures products that have only one delivery period P amp L is dis played in the same manner as all other futures e For contracts with different delivery units X_TRADER does not sum positions above the contract level X_TRADER User Manual 431 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Understanding Delivery and Flow Like standard futures some energy contracts specify delivery of a given amount on a given day For example the delivery of crude oil against IPE Brent Crude futures is done in one lump sum on a single day i e one delivery period However some energy contracts specify delivery of a given amount of energy over a specified period of time 1 e multiple delivery periods This is referred to a
236. e Window menu and choose Market Explorer 0r From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find In the Products section click the down arrow and choose your search filter 4 Type your search criteria in the available space The Instruments field updates as you type From the Instrument Type box click to toggle between the displayed types 6 Press and hold the crri key and click the products you want to open or To open all products in the Instruments field click the gt gt button and skip to step 7 Click the gt button to transfer the products from the Instruments box to the Selected Instruments box 8 Click the Function box in the upper right corner of the Market Explorer and choose MD Trader 9 Click Start You successfully populated MD Trader from Market Explorer 250 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview gt To populate MD Trader using drag and drop from Market Explorer 1 2 10 If MD Trader is not open use the Control Panel to open it From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find In the Products section click the down
237. e Window menu and choose Spread Matrix 0r From the Control Panel click the icon From either Market Explorer or the Market Grid window click the product for which you want to generate a Spread Matrix Drag the contract into the blank Spread Matrix window You successfully generated a Spread Matrix from the Control Panel gt To generate a Spread Matrix from Market Explorer 1 u e D a D 9 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon In the Exchange section click the exchange that hosts the product you want to find From the Instrument Type box click Futures In the Products section click the down arrow and choose your search filter Type your search criteria in the available space The Instruments field updates as you type Press and hold the crri key and click the products you want to open Click the gt button to transfer the products from the Instruments box to the Selected Instruments box Click the Function box in the upper right corner of the Market Explorer and choose Spread Matrix Click Start You successfully generated a Spread Matrix from Market Explorer 308 X_TRADER User Manual Trading Technologies International Inc Spread Matrix Overview gt To generate a Spread Matrix using the Market Grid context menu 1 In the Market Grid click the Contract column of the product for which yo
238. e feature and the Click Trading pane opens above the Market Grid You successfully turned click trading on or off X_TRADER User Manual 215 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Setting Default Properties for Click Trading Default properties control the mouse settings and other restrictions while Click Trading Maintain these features in the Trading tab on the Properties menu gt To set the properties for click trading 1 From the Control Panel click the Settings menu and choose Properties 2 Inthe Properties dialog box click the Trading tab 3 Inthe Mouse Type section click the kind of mouse you use Note A three button mouse is the default setting and is ideal for sending all types of Click Trading orders to market in the quickest manner possible 4 In the Dime field click GTD or IOC Note Any GTD orders still working at the end of your trading session are automatically deleted IOC orders allow a partial fill before the balance is canceled 5 In the Click field click GTC or IOC 6 To enable click trading on FFNet NetPos click to select the Enable on FFNet NetPos checkbox 7 Click OK to exit the Properties dialog box and save the selected options You successfully set the properties for click trading Using Click Trading in the Market Grid Oty 0 Click g a Click 9 a Dime p Theo lt Default gt v B v Offset ms x B A gt To u
239. e high volume and whose traded price are separately agreed to by both parties outside of the normal exchange trading methods Block trade limits minimum threshold that defines what constitutes a block trade for any given product are defined by the exchange and vary depending on the product In all cases a private agreement on price and number of products to be traded exists and must be reported to the exchange Buyers and Sellers have distinct roles in Eurex block trading e Buyers Buyers initiate a block trade They can also add modify or delete the trade e Sellers Sellers can only receive and accept a block trade Follow these procedures to manage Eurex Block Orders e Submitting a Eurex block order buy side e Modifying a Eurex block order trade e Accepting a Eurex block order sell side e Making a Block or Volatility Order Inquiry X_TRADER User Manual Trading Technologies International Inc Market Window Overview Submitting a Eurex Block Order Buy Side This procedure assumes both parties involved in a block trade are in communication with each other Only the buyer can enter a block trade using the following procedure Note Although block trading is defined as a trade between two parties outside of the normal exchange market the Eurex exchange is the third party involved Eurex checks the trade s quantity price and other information before determining approval After the exchange reviews the trade the Seller
240. e market for two seconds The Hold In Timer is a BrokerTec restriction that holds your order in the market when it is the best in the market You do not see the Hold In Timer in X_TRADER but during this period e Cancel and price change requests are rejected and logged in the Audit Trail e You can decrease the quantity to 1 e Orders joining your best bid or offer are not subject to the Hold In Timer e For orders automatically sent via Autotrader and Autospreader when the reject mes sage is received the order is deleted or requoted automatically X_TRADER User Manual 413 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 414 Autotrader Tick Formula Because BrokerTec uses the to designate half ticks a new function was developed to allow you to continue using offsets in Autotrader Formula TICK lt row gt lt price gt lt n gt Example TICK 3 mBidPre 2 Where e lt row gt The row from the top of the grid including headers 1 based meaning 3 is the first Autotrader row 4 is the second etc e lt price gt The base price a string number or column name ex 110 01 110 01 mBidPrice If this parameter contains a literal price with a plus in it the parameter must be wrapped in quotes e lt n gt The number and direction of ticks to move the base price contained in the sec ond parameter Positive numbers indicate ticking up negative
241. e prices for several products at once It also displays your position and P L The screen can be launched with pre selected contracts or contracts can be dragged in The number of quotes you can add is only limited by the size of the window on your screen Quote Board S TER ZB M8 110000 109240 109290 110230 110200 110090 109290 109240 109290 110170 110100 f 110090 90 40 90 13852 13955 13845 13950 4 14073 0 14101 0 13990 0 13990 0 125080 0 The first time launched Quote Board displays three rows of eight quote panes Drag and drop contracts from Market Explorer or the Market Grid to populate it gt To access Quote Board From the Control Panel click the Window menu and choose Quote Board or From the Control Panel click the Icon You successfully accessed Quote Board X_TRADER User Manual 319 Trading Technologies International Inc Proprietary and Confidential Information Chapter 10 Quote Board Features Quote Board features include e Place multiple quote panes for the same contract on the Quote Board e Move the panes within the Quote Board and between multiple Quote Board windows e Enable the Floating Order Entry option in the context menu Then click a Quote Board pane to seed a Floating Order Entry window e Drag and drop a Quote Board pane into MD Trader Populating Quote Board Follow these procedures to populate Quote Board with contra
242. e trader uses this feature all working orders for all spon sored proxy TTORD traders delete e Ifa TTORD uses this feature it converts one message into to multiple individual delete requests to prevent them from deleting the exchange trader s working orders A button used to send Request For Quotes An icon used to display Market Depth Note The available market depth shown depends on the gateway but cannot exceed 20 levels Bid Mbr The bid Member ID If supplied by the exchange EPIQ Buys Your estimated position in queue for working buy orders WrkBuys The Group ID s total number of working buy contracts Group ID MemberIDGroupID The total quantity working at the bid Note The Eurex exchange displays only four 4 digits in inside market Therefore the maximum Bid Ask Quantity is 9999 This is a limitation of the Eurex API for UserDevices and MISSes If the inside market is greater than 9999 and you wish to view that data open Market Depth feature in the Market Grid ThrshBid The Threshold bid price as established by the exchange Exchanges set a trading range for the day based upon the previous session s settlement price The exchange halts trading of the product when one of these limits is reached A frozen market requires manual release by the exchange BidPre The best market bid price BidQty Accum The accumulated bid quantity Use only when you enable Market Depth BidPre Avg The average bid price Use only
243. e with a diagonal line through it When the cursor enters a window it changes to include a plus sign Release the mouse button You successfully populated Quote Board using drag and drop from the Market Grid X_TRADER User Manual 321 Trading Technologies International Inc Proprietary and Confidential Information Chapter 10 gt To populate Quote Board using the Market Grid context menu 1 In the Market Grid click the Contract column of the product for which you want to populate Quote Board Note To select multiple contracts press and hold the ctru key and continue clicking contracts or To select any successive contracts in a row click and drag the cursor over the contracts to highlight them 2 Right click to access the context menu and click Quote Board A Quote Board appears populated with the product you selected You successfully populated Quote Board using the Market Grid context menu 322 X_TRADER User Manual Trading Technologies International Inc Quote Board Overview Reading the Quote Board Each pane in Quote Board displays the following fields O Opening price for the day H High price for the day Oy 11965 0 L Low price for the day 12206 0 12093 0 L Last traded price for the day 12190 Delta A Net change on the day 790 V Hidden by default Current traded volume for the day V 99156 AP Hidden by default Most recent ask price A 12191 0
244. ears successful and the Guardian window Status column changes to reflect the new trader ID However all subsequent trades will still be attributed to the original trader s account For example all Audit Trail messages point to the original trader 2 Restart X_ TRADER The TT Exchange Login dialog box appears IT Exchange Login Trader SIMULATION Exchange List m sss CME A eCBOT eCBOTA E CMEA Member Id D12345 eCBOT eCBOT 4A Group Ic TEST Eurex Eurex A Trader Id Eurex C EurexS Password j Eures4JS C ICE_IPE A CLR Member Delauk Account Pref Server 123412345 Dose 3 Select the appropriate exchange tab or double click the name from the Exchange List 4 Enter the login data provided by your X TRADER Administrator 5 Click the Login button After your password is authenticated a checkmark appears in the box to the left of the exchange name 6 If you want to log in to another exchange select the appropriate exchange tab and enter the login information 7 Click Close You successfully logged into an exchange with a different Trader ID X_TRADER User Manual 33 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 Universal Login Procedures The universal login lets you login to many exchanges at once using one user name and password Your System Administrator supplies the login data Follow these procedures to log
245. eature is limited to values up to 99 Example If you enter 1 and middle click the mouse with the cursor on the current market bid an order 1 tick better than the prevailing prices is entered Conversely if you enter a 1 an order 1 tick worse is entered Click vs Dime options Toggle between Click and Dime to define what occurs when you right click e Execute a trade Click e Enter an order Dime The Click and Dime buttons enable when you select a two button mouse from the Trading tab on the Properties menu Theo amp Lets you evaluate opportunities in the market B A Bid Ask e Enable Theo to use theoreticals pasted in the TheoPre column e Enable B A to use theoreticals pasted in the TheoBid or TheoAsk col umns Account Default Refers to the accounts set up in the Customer Defaults dialog box Displays account code 3 To send a trade to market using Click Trading e Right click the bid price to send a limit sell order e Right click the ask price to send a limit buy order You successfully used the click trading feature in the Market Grid X_TRADER User Manual 217 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Eurex Block Order Overview 218 The Eurex Block Order feature in X_TRADER provides a method to enter a buy and acknowledge a purchase of a large block trade into the Eurex exchange Block orders are defined as those product trades which involv
246. eceive exchange announcements e Displaying INFO messages by exchange e Associating a sound file with exchange announcements display INFO messages by exchange From the Control Panel click the Settings menu and choose Properties Click the Audit Trail tab Click to select the Process and display INFO messages property Click the Exchanges button Click to select the checkbox next to the exchanges for which you want to view INFO messages Click OK You successfully displayed INFO messages by exchange P To 1 2 3 4 160 associate a sound file with exchange announcements From the Control Panel click the Settings menu and choose Properties Click theSounds tab Under the Events column double click the Exchange Announce event Inthe Associated Sounds column double click lt None gt X_TRADER User Manual Trading Technologies International Inc Audit Trail Context Menu The Associated Sounds column is editable 5 Click the Ld icon to locate the sound file you want to use as your alert 6 If necessary navigate to the location where the sound files are located In most X_ TRADER installations this is in the following folder lt root drive gt tt Sounds 7 Highlight the file and click Open The new sound name and path displays next to the selected event 8 To test the sound click Test 9 Click Apply and then OK to exit You successfully associated a sound file with exchange announcements
247. ed window used to place orders that you can place anywhere on your screen You can use one or multiple Floating Order Entry windows to place orders for the Market Grid Order Book Autotrader Spread Matrix and Quote Board 176 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Your Floating Order Entry can be one of the following e The Market window Order Entry pane im CME 6E BS pgg MIBR alsm A dm 2 15648 0 6EJUNO8 GTD Limt lt Mone gt m 2 156480 GID Tia choss lopan w a Ce W YW ort e An MD Trader window CTA 3f a LES nbs e The Order Bar CBOT ZB Mar09 X The Buy Order Bar CBOT ZB Mar09 X The Sell Order Bar Follow these procedures to enable or disable the Floating Order Entry e Enabling Floating Order Entry e Enabling Multiple Floating Order Entry windows e Enabling MD Trader as your Floating Order Entry e Disabling Floating Order Entry X_TRADER User Manual 177 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 gt To enable Floating Order Entry 1 2 Right click anywhere in the Market Grid Order Book Autotrader Spread Matrix or Quote Board to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns Click Floating Order Entry You successfully enabled Floating Order Entry gt To enable MD Trader
248. edge n Order Book and Audit Trail Hedge Manager Display new hedge order delay ms 250 z Display Filled and Deleted rows Z Highlight price change Display price change seconds Autospreader Display Held Determines whether held hedge orders display in the Order Book and Audit Hedge in Order Trail By default they are not displayed Book and Audit Trail Hedge Manager Display new Lets you select a time in milliseconds to display new rows so hedge orders hedge order delay that are filled before this interval has elapsed will not display in the Working ms Orders pane The default is 250 milliseconds range from 0 to 2000 milliseconds 2 seconds A setting of zero means new hedge orders will immediately appear in the Working Orders pane regardless of how quickly they fill In the Order Book the held hedge row background color is orange Display Filled and Leaves hedge order rows in the Working Pane even after the hedge orders fill Deleted rows or are deleted Use the Clear All button at the top of the Working Orders pane to permanently remove all Filled or Deleted rows Highlight price Gives the Price column a dark gray background to alert you of a price change change to a hedge order Display price change seconds Sets a time threshold for the change to the Price column X_TRADER User Manual 145 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3
249. edit limit You successfully traded out of a position using the keyboard X_TRADER User Manual 271 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Viewing your Estimated Position in Queue You can view your Estimated Position in Queue EPIQ in MD Trader and the Market Grid EPIQ estimates how many contracts are in front of your order at any given price e If your EPIQ is 10 there are approximately 10 contracts ahead of your order e If3 contracts trade your EPIQ changes to 7 e If your EPIQ is 0 your order should be the next to fill Note EPIQ is not sent from the exchanges X TRADER calculates an EPIQ based on quantity of trades occurring in front of the order and does not account for cancelled orders nor pro rata allocations MD Trader In MD Trader the EPIQ is a set of columns to the left of the buy quantities To display the EPIQ click to select the property on the MD Display tab Average Price of Position Color Codes In MD Trader the EPIQ number is color coded to give you even more information about your order e By default your EPIQ number is black e If your order is the inside market the color turns white e If your order is the first in the queue the color turns yellow You can configure EPIQ colors on the MD Color tab 272 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Customizing MD Trader To
250. ee Floating Order Book Launch To Modify Order Press new shortcut key C Order Pare Submit Order None JEBS Quote Board Close Order Ticket Set On Quartity Set Focus On Price EBS Launch to Buy Regular EBS Launch to Sell Regular EBS Set Focus on Figure Keyboard Lay Description out Keyboard Layout Sets TT Default hotkeys for all components or lets you customize hotkeys for the components of your choice In addition you can enable the default keys for trading EBS The Reset All button changes customized hotkeys back to their default settings Enable EBS This checkbox appears in the upper right corner of the tab when you select Keypad EBS Default as the keyboard layout It lets you use the ICAP distributed EBS keypads X_TRADER User Manual 143 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Component Lists the functions for which hotkeys can be assigned Click to select the boxes next to the functions for which you want to use hotkeys Order Bar Refer to Trading with the Order Bar on page 207 MD Trader Refer to Keyboard Trading in MD Trader on page 279 Orders Defines the key combination for deleting all orders Floating Order Book Refer to Keyboard Trading in the Floating Order Book on page 345 Order Pane Defines keys for submitting order an order in an attached or floating Order Entry Pane EBS Quote Board Defines the key that lets you change the co
251. enter a sell order using the keyboard Note You can change the hotkeys associated with these commands gt To enter a sell order 1 Enable keyboard trading 2 Press the x and keys to select the desired limit price 3 Press the o key to focus keyboard entry on the Order Quantity field 4 Type in the desired quantity of the sell order on the keypad 5 Press the key to send the sell order You successfully entered a sell order Enter the Order Quantity Using the Keyboard In MD Trader once keyboard trading is enabled you can enter the order quantity using the keyboard gt To enter an order quantity into the Order Quantity field of MD Trader 1 Enable keyboard trading 2 Press a numeric key on the keyboard A cursor appears in the Order Quantity field 3 Type the desired quantity 4 Press enter You successfully entered the order quantity using the keyboard Deleting All Orders Working Bids or Working Offers Using the Keyboard In MD Trader once keyboard trading is enabled you can delete all orders working bids or working offers using the keyboard Note You can change the hotkeys associated with these commands To Delete Press All orders All working bids All working offers X_TRADER User Manual 285 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Loading the Net Position in the Order Entry Field Using the Keyboard In MD Trader once key
252. enter price used for the calculation is 50 and the spread is 4 ticks the quote will be 48 52 N A When you set the quote type to Dime Join or Theo Bid Ask the spread type defaults to N A not applicable Percent The chosen percentage of the price is used to calculate the spread The field is used to define the exact percentage The Percent Spread Type is subject to the spread table s defined Maximum Spread and the product group s defined Minimum Spread If the calculated quote is greater than the Maximum Spread the Maximum Spread is quoted For example if the percent calculated is 6 ticks and the spread table max is 4 ticks 4 ticks is used Minimum Sets the smallest number of ticks allowed to generate a quote If the calculated quote is less than the minimum defined this minimum is used to generate the quote For example if the calculated spread is 1 tick and your minimum is 2 ticks the quote will have a 2 tick spread Not applicable for Dime Join and Theo Bid Ask Quote types Defines the percentage of the price on either side used to calculate the spread when you select Percent Spread Type Not applicable for Dime Join and Theo Bid Ask Quote Types X_TRADER User Manual 75 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Field Description o Auto Quote Auto Quote Sets the number of seconds the quote is delayed before being sent to the market Delay Secs
253. ential Information Chapter 11 Deleting an Order You can delete any unfilled order Because there is a short delay before you receive notice of a filled order you might inadvertently try to delete a filled order If this occurs the Audit Trail sends you an error message 82 Order Bookt O00 ees RIS 3 YS eS e i 21 x 114025 ZN Limit 3602908289230572601 Acct tp001001 Cust v Lock Ea 114025 viv r Al ss ss Note If an order enters an unknown state the TT Status column is appended with a question mark and the colors are inverted Refer to Recognizing Orders in an Unknown State Follow these procedures to delete orders in the Order Book e Enable and disable the Delete All button e Delete a single order e Delete multiple orders e Delete all visible orders e Delete all visible orders and orders hidden by filters gt To enable or disable the Delete All button 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Orders tab 3 In the Button Selection section click to select Delete All Bids Asks A checkmark indicates the feature is enabled You successfully enabled or disabled the Delete All button gt To delete a single order 1 Select the order to be deleted by clicking any cell in the appropriate row to highlight it 2 Select the Delete button in the top pane or Click on the Delete button in the appropriate row The Audit Trail message specifies the action taken Delete
254. er gt To remove the customer Auto Filter use one of these options 1 Click on the red push button directly below the column whose Auto Filter you want to remove The following screen is taken from the Fill window TI_Fil1 aJ el gt WAS 3 Product mamy Account Exch Tim A Account 4 Fiter at 160 24 0C v gt 2 Click lt EMPTY gt to remove the Auto Filter For any window except the Audit Trail or Right click to display the context menu and click Autofilters You successfully removed the customer Auto Filter 52 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks Effects of Filters Filters have the following noteworthy effects on certain windows in X_TRADER All windows A Filters On notice appears in the title bar of the widow when a filter has been applied to one or more columns If you hide a column using the context menu s Hide Column selection this notice changes to Filters On Hidden Audit Trail If you select lt EMPTY gt as a column filter in the AuditTrail the filter applies to window all cells that are empty This is unique behavior to the Audit Trail window Fill window Filters set in the Fills pane filters carry over to the Position pane In addition Fast Fills are disabled when filters are on Order Book The Order Book window does not support filters using multiple variables window Formatting Fonts X_TRADER in
255. er 1 Select a quantity to go into the market 2 Click the SM button in MD Trader The cursor and SL button turns yellow 3 Move the yellow cursor to the price Buy or Sell column opposite the tick value where you want to put the stop 4 Click the mouse button The stop is placed and indicated in the Working Quantity column as a stop You successfully set a stop market order gt To set a stop limit order 1 Select a quantity to go into the market 2 Click the SL button in MD Trader The cursor and SL button turns yellow 3 Move the yellow cursor to the price Buy or Sell column opposite the tick value where you want to put the stop 4 Click the mouse button The stop is placed and indicated in the Working Quantity column as a stop You successfully set a stop limit order X_TRADER User Manual 269 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Setting the Maximum Trade Quantity In MD Trader you must set a value in the Maximum order quantity property on the MD Trading tab before you trade This quantity prevents you from entering an order larger than your limit For example if the maximum trade quantity is 50 you are not permitted to sweep the market with an order quantity of 300 Note The following are exceptions to the maximum trade quantity setting e Enabling TradeOut e Restrictions established by Guardian gt To set the maximum tra
256. er name populates all of your Order Entry panes 3 Make your trades 4 Select another customer or revert back to the lt Default gt You successfully used the Customer List One Customer Name Entry The Customer List displays unique customer names once Even if the same customer name has multiple profiles on the Customer Defaults dialog box When you select the customer name in an Order Entry pane X TRADER maps the proper account based on the following criteria 1 Customer name 2 Market 3 Product 4 Product Type 5 Account X_TRADER User Manual 93 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Order Entry Customer Selection Overview The Order Entry Customer Selection list contains all the customer profiles with the SEL box marked in the Customer Defaults dialog box Use the Order Entry Customer Selection list as an alternative to using the Customer List gne gt y Open JA v lt Default gt JANE DOE JOHN DOE The Order Entry Customer Selection list is available to e Simplify switching from one customer profile to another when the Customer List is not displayed e Switch to a different customer profile for just one Order Entry pane 94 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Properties Menu Overview The Properties menu contains tabs that allow you to activate deactivate and cu
257. er to generate quotes Note Each product can be associated with only one product group at a time If you require quotes for the same product to be constructed using different parameters for example max vs percentage or a different clearing member you must first disassociate the product and then re associate it with another product group gt To associate a product to a product group 1 From the Control Panel click the Settings menu and choose Product Group Setup The Product Group Information dialog box appears 2 Click the Product Group in any cell on the bottom half of the screen All the product group settings display in the top half of the window Note If no product group displays you must create a custom product group before associating products 3 Click the Associate Products button Note If this button is grayed out you have not selected a product group The following screen appears Associate Products to a Product Group Product Group Prod1 Exchange Product CME v v Add to List Exchange Product 4 From the Exchange field click the appropriate exchange 5 From the Product field click the appropriate product 6 Click the Add to List button The exchange and product now display on the product list 7 Repeat steps 4 6 to associate more products 8 Click OK to exit You successfully associated a product to a product group 80 X_TRADER User Manual Trading Technologies Internation
258. er type click SL or SM for Stop Limit and Stop Market order types Set your quantity Click the buy or sell price level you want to place the first order at The cursor stays orange until both the next order is placed Note To cancel click the OCO button again before placing the second order Click the buy or sell price level you want to place the second order at You successfully created OCO orders in MD Trader 302 X_TRADER User Manual Trading Technologies International Inc Order Types Stop Order Stop orders let you set the price that triggers the order Stop orders can be Limit or Market orders X_TRADER supports Stop orders on all exchanges A stop order displays in the Order Book with a Working status and negative order number indicating it is not actually in the market When the stop triggers the order becomes the native order type and remains in the Order Book until it fills Note Since TOCOM does not send a last traded price for spreads you can not enter Stop orders in spreads when trading TOCOM Stop Trigger Rules If the order server goes down or the trader who originates the Stop order is not logged in when the order triggers the order is sent to market with the Trader ID of another trader with the same Group ID If another trader in the same group is not available the order status changes from Working to Hold Held Stop orders do not trigger until the original trader or a trader wit
259. erT ec J Passive SL v o SM v o C Leave Order Types Sticky Order Types Sticky FOK oO v TradeSounds Propesties Order Parameters Maximum order Displays the maximum order quantity permitted during trading quantity Note To use MD Trader this field must be greater than zero 0 Right click Description action in Buy Sell column Right click action Enables your right click in the Bid and Ask columns to either in Buy Sell e Sweep w max Qty Sweep the market using your maximum order column quantity and up to the defined by price depth level at the exchange e g Some exchanges go up to 5 depth levels e Use 2nd default Qty Submit a second default quantity in the Bid and X_TRADER User Manual 125 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 126 Right click action in Buy Sell column Description Ask column at the price where you right click When using this option you must type a quantity in the box to the right of the option Note To use MD Trader this field must be greater than zero 0 e Use EBS Regular Qty Seed the regularly traded quantity as defined for that contract by the EBS exchange General Description S O Delete all when LTQ column clicked Button actions on Mouse DOWN Allow only one order per side Enable Qty change on left right click in edit fields Lets you delete all your working orders by
260. ernational Inc Proprietary and Confidential Information Chapter 3 Field Description Indicates one of the following account types Al First Agent Account e g broker A2 Second Agent Account A3 Third Agent Account G1 Pre Designated Giveup Trade G2 Designated Giveup Trade G3 Second Giveup Trade First Market Maker Account M2 Second Market Maker Account M3 Third Market Maker Account P1 First Principal Account e g proprietary trader P2 Second Principal Account P3 Third Principal Account U1 Unallocated for orders that have not been allocated to a customer Refer to Order Entry Pane Field Descriptions on page 172 for more information Indicates the clearing member code Used for Give up trade accounts only Used for annotation purposes by the trader or back office sub account The back office manager usually dictates the use of these free form text fields Indicates the time the order is in force The order choices are GTD Good til Day Order is valid only for the current trading day GTC Good til Cancel Order is valid until you cancel it or the contract expires GIS Good in Session Order is valid only for the current trading session This TIF is only applicable to the Euronext Liffe exchange Indicates the type of order Limit default selection or Mkt Market Lists order types and restrictions Refer to Order Types on page 291 for more information Note Support and definiti
261. ernational Inc Proprietary and Confidential Information Chapter 6 Disabling Quoting Follow these procedures to disable quoting e Disabling quoting for a single window e Disabling quoting as a feature gt To disable quoting for a single window 1 Right click anywhere in the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns If quoting is on a check mark appears next to Show in the Quoting submenu 2 Click Show The quoting bar and additional columns disappear from the Market Grid You have successfully disabled quoting for a single window gt To disable quoting as a feature 1 From the Control Panel click the Settings menu and choose Properties The Properties dialog box opens with the Trading tab displayed by default 2 Click to uncheck the Quoting box to disable quoting You successfully disabled quoting as a feature in X_TRADER Status of Quotes at X_TRADER Shutdown The status of working orders at shutdown depends on how X_TRADER is shutdown e Normal Shutdown If you exit X_TRADER normally working orders remain work ing The exception is Autospreader and Autotrader Their working orders delete when you shutdown X_TRADER e Abnormal Shutdown When X_TRADER experiences an abnormal shutdown live quotes cannot be pulled from the market Since quoting data is tracked on the local workstation there is no record of active quotes Since the quotes
262. es stale orders Renaming an Existing Strategy Renaming contracts Resizing md trader toolbar window grid Restoring contract names Restoring Hidden Rows or Columns Restrictions RTD Formulas Saving manual fills time and sales information workspaces Screen minimizer Searching for a Product Selecting a Customer Profile in MD Trader Sell Side Keys in MD Trader Send quote order property Setting auto filters default quantity in md trader default visible columns filters maximum trade quantity in md trader md trader properties outright or spread price time in force in md trader trade quantity in md trader Settings menu SFE SFEcustom market strategies 183 X_TRADER User Manual 256 259 323 310 375 37 375 243 26 115 363 84 332 243 167 265 67 61 167 59 291 202 362 378 48 166 256 279 413 Index Reading Startup Workspaces SGX market to limit 292 299 MTL 292 299 Sharing customer defaults 92 Simulation Mode 29 Sorting the Trade Book 369 Sound tab 113 adding an event sound 115 adding to md trader 273 Sounds adding high and low alerts 150 adding to md trader 273 tradesounds 129 Spacer rows 195 Spread Matrix 307 butterfly condor 316 calculations 314 canceling working orders 312 click trading 312 context menu 315 customizing 309 example 310 features 310 floating depth window 205 generating 308 implied quantites 228 outright price example 123 properties 313 readin
263. es including your P L Trade Book Displays an aggregate fill for a single order number Audit Trail Displays data sent to the exchange and the responses received from the exchange Details order add delete change inquiry trader and customer detail as well as error messages and exchange announcements Time and Sales Provides the ability to track record and save time and information for products traded through X_TRADER Customer List Displays all accounts by customer name based on information obtained from the Customer Defaults Settings window Create Strategy Creates multiple legged spreads strips packs and bundles Spread Matrix Opens the Spread Matrix window Autotrader Creates and maintains a two sided market for selected sets of contracts allowing automatic bids and offers Note You need an X_TRADER Pro license to use Autotrader Autospreader Sets up two sided spreads that trade automatically in a three pane window Note You need an X_TRADER Pro license to use Autospreader Available Credit Displays the amount of credit left in your trading account A green total indicates a positive balance a red total indicates a deficit MD Trader Displays the market depth for a given product and allows you to buy or sell products with one click Alerts Manager Assigns alert sounds to play whenever contracts trade above their high price or below their low price for the day Quote Board Displays the open high low la
264. ese settings save your workspace You successfully hidden multiple rows or columns Restoring Hidden Rows or Columns Restore hidden rows or columns using the context menu regardless of how they were hidden gt To restore hidden rows or columns 1 Right click a grid cell to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 2 Click Hide Show Rows or Hide Show Columns 3 Click to select the rows or columns you want to restore You successfully restored a hidden row or column X_TRADER User Manual 59 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Changing the Heights of Rows or the Widths of Columns The heights of rows and widths of columns can be changed one at time or several rows or columns can be changed at once Follow these procedures to change the heights of rows and widths of columns e Changing the height or width of one row or column e Changing the height or width of multiple rows or columns gt To change the height or width of one row or column 1 Move the cursor between two row or column headings until the cursor turns into a double headed arrow 2 Click and hold the mouse button and slide the row or column to the desired size 3 Release the mouse button 4 To retain these settings save your workspace You successfully changed the width or height of a column or row gt To change the heig
265. ess the F12 key MD Trader enters a sell order at the current best bid in the market The quantity sold is based on the amount in the order quantity field or on the preset default order quantity You successfully hit the bid Taking the Offer Using the Keyboard In MD Trader once keyboard trading is enabled you can take the offer using the following actions Note You can change the hotkeys associated with these commands gt To take the offer Press the F1 key MD Trader enters a buy order at the current best offer in the market The quantity sold is based on the amount in the order quantity field or on the preset default order quantity You successfully took the offer X_TRADER User Manual 287 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Dime the Offer Using the Keyboard In MD Trader once keyboard trading is enabled you can dime the offer using the keyboard Note You can change the hotkeys associated with these commands gt To dime the offer 1 Enable keyboard trading 2 Press the F10 key MD Trader enters a sell order one tick below the current best offers in the market You successfully dimed the offer Dime the Bid Using the Keyboard In MD Trader once keyboard trading is enabled you can dime the bid using the keyboard Note You can change the hotkeys associated with these commands sss gt To dime the bid 1 Enable keyboard trading 2 Press the F3
266. essfully sent a single quote gt To send mass quotes 1 Click Send in the Order Entry pane to send the test quotes to market 2 Click Send to regenerate unedited quotes based on current market conditions The new quotes are sent to market When you send mass quotes the market quote columns automatically display You successfully sent mass quotes X_TRADER User Manual 233 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Tracking Quotes All exchange messages relating to quoting display in the Quote Audit Trail Use this window to confirm outbound quoting events and monitor inbound quoting events i e RFQs Quote Audit Window2 OOo Beg Eae 3ND Delete BASS QUOTES FOR B 08 20 24 237 17 PYEsaass B pecos F sor 959 99 960 00 5 14 24 08 200 REQ TIMEOUT MASS QUOTES FOR B 08 24 25 950 Recvd B DECO5 F 0 00 03 24 34 966 REQ TIMEOUT X_TRADER uses the Quote Audit Trail to monitor quoting activity The Quote Audit Trail displays messages related to quoting from the exchanges You can also use this message window to monitor incoming and outgoing RFQs as well as manual and autoquoting responses to RFQs gt To open the Quote Audit Trail From the Control Panel click the Window menu and choose Quote Audit Trail Or From the Control Panel click the Icon You successfully opened the Quote Audit Trail Activating or Deactivating a Strike or an Expirat
267. et Grid right click the row of the product you want to open in MD Trader Click MD Trader You successfully populated MD Trader using the Market Grid context menu X_TRADER User Manual 251 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Using the MD Trader Context Menu Right click MD Trader to access the context menu The available menu options include Find Control Panel Displays the Control Panel Find Control Panel Time amp Sales Adds the time and sales pane showing price Time amp Sales quantity and time columns TradeSounds TradeSounds Enables sounds you associate with your trades Chart tity based on quantity a ae Chart Opens an X_STUDY chart for the selected contract Size to Fit Alt F Clone Creates a duplicate MD Trader window Small Mode Note You cannot clone a Floating Order Entry window displayed as MD Trader has a yellow border Properties Size to Fit Resizes to show all viewable data Small Mode Makes a smaller version of the window When enabled this context menu changes to Standard Mode Properties Opens the MD Properties menu Paste Link Inserts a copied link from Excel into the Bid or Ask indicator columns Only available when data is copied Delete Link Removes pasted link from the Bid or Ask indi cator columns Only available when a formula has been pasted You cannot access the context menu from the following locatio
268. et mid point 91 screen minimizer 94 small md trader 102 91 85 E 92 86 EBS 86 Big figure 419 93 contracts with depth 93 local bids 94 notes 420 quote board 273 customizing 273 reading 278 tules 275 Enabling 278 click trading 278 hotkeys keyboard trading in md trader 182 market depth 275 order bar quoting user defined price column in md trader Entering asset allocations order into the market 50 53 orders using the keyboard 222 53 buy order in md trader 369 sell order in md trader 234 prof trades 235 EPIQ 203 419 424 Equity orders 143 Trading Technologies International Inc X_TRADER User Manual 257 90 362 255 285 340 341 79 235 244 312 73 236 81 368 266 48 265 415 424 424 424 426 416 420 419 426 215 143 282 198 207 231 138 402 40 285 284 285 397 272 293 Index Establishing Fills Alert dialog box Establishing available credit 185 link for theoretical pricing 200 Estimated Position In Queue EPIQ 203 272 Eurex block 218 292 fast fills information 364 quantity display 187 Eurodollar Options 237 Euronext and Guaranteed Crossing 401 Example floating depth window 206 spread matrix 310 Examples consolidating prices 262 implied and outright combination 226 implied in 227 implied on implieds 228 implied out 227 implied quantities 228 laser line 277 mixing implied with direct markets 226 profit and loss 357 spread matrix outright price display 1
269. ew Note MD Trader is protected by U S Patents Numbers 6 766 304 and 6 772 132 MD Traderdynamically displays the market depth for a product It lets you quickly buy or sell products across the depth using one click of the mouse This section breaks into the following categories e Populating MD Trader on page 250 13 26 08 e Using the MD Trader Context 295 Menu on page 252 lt Default gt e Using MD Trader on page 253 e Setting MD Trader Properties on page 260 ER e Customizing MD Trader on page zn no e Keyboard Trading in MD Trader on page 279 gt To open MD Trader from the Control Panel From the Control Panel click the Window menu and choose MD Trader D iF O e r or From the Control Panel click the E icon You successfully opened MD Trader A Hi G U S Pat 6 766 304 amp X_TRADER User Manual eCBOT A ZN MARO7 po ES Em Eg eal Ea E Ben p Fe Gi Ei c amp 173 07160 5107155 7e asg 1 07145 44 44 07140 5107135 51 07130 49 07125 47 07120 245 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 MD Trader Field Descriptions The MD Trader window maintains default settings that can be modified in its Properties menu Enable the Show Tooltips property to see a small text description of certain fields when you hover the cursor over them eC
270. exactly as they are printed Indicates menu items command buttons folder directory names file names window names dialog box names and field names Procedures contain bolded items as well Italic Indicates variables including variable text Variable text is used when dialog boxes or their components are not labeled Variable text is also used for labels that change dynamically based on their current context The wording of variable text does not exactly match what you see on your screen X_TRADER User Manual 25 Trading Technologies International Inc Proprietary and Confidential Information About This Manual Keyboard Formats All key names are shown using small capital letters For example the Control key is shown as crrt The up ARROW DOWN ARROW LEFT ARROW and RIGHT ARROW KEYS are Collectively referred to as the arrow keys Key combinations and key sequences appear in the following formats Keyl Key2 A plus sign between key names means to press and hold down the first key while press ing the second key For example Press ALT TAB means to hold down the ALT key while pressing the TAB key Keyl Key A comma between key names means to press and release the keys one after another For 2 example Press ALT F O means to press and release the ALT key press and release the F key and then press and release the o key Related Documentation This guide is part of comprehensive Trading Techno
271. example applies to the Block Trade dialog box The Block Trade window displays The Series Month and AMR fields display data from the Market Grid 7 In the Price and Quantity fields type the appropriate values 8 Complete steps 9 13 in both the Buyer and Seller sections 9 In both Ace Code fields type the account code for this trade 10 11 12 13 14 15 x Warning Each exchange maintains a different set of Account codes Valid account codes for Euronext include e C Customer e H House e M Market Maker In both Open Close fields type O or C to indicate whether this trade opens or closes a position Leave the CTI fields blank In both Posting Code fields type a value Note Valid values include M Manual Posting A Automatic Posting G Give up Posting In both Account fields type the account numbers if applicable Click to select the Guaranteed Crossing checkbox Click Send to submit the order You successfully submitted a Guaranteed Crossing trade X_TRADER User Manual 401 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Asset Allocation Methods The Asset Allocation option is available in the Block Trade window When enabled it allows you to enter one side buy or sell of a wholesale order Alternatively one trader can enter the entire Asset Allocation Block Trade Trader Acc Code Open Close Price CTI Quantity Po
272. ffers Offer Offer Shift Join Bid the Bid Shif Market Buy and Offer and Offer Market Sell Delete all Hotkey Description Buy at the Offer Enter buy order at best offer Market Buy Enter market buy order Better the Bid Enter buy order one tick above the best bid Join the Bid Enter buy order at best bid Delete All Delete all working orders Delete All Bids Delete all bids Combo Join Bid and Offer Enter both a buy order at best bid and a sell order at best offer Better the Bid and Offer Enter a buy order one tick above the best bid and a sell order one tick below the best offer Delete All Offers Delete all offers Join the Offer Enter sell order at best offer Better the Offer Enter sell order one tick below the best offer Enter sell order at best bid Shift F12 Market Sell Enter market sell order X_TRADER User Manual 279 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Main Hotkeys The main hotkeys are in the body of your keyboard TT Default Map Focus on order Center Shift Center Populate order quantity field buy side Refresh Trade out sell side with net position Enter buy Increas Center the Increase Delete Entersell market sell side offers at Ctrl 5 ti cursor selected Ctrl Sweep I price Sweep the bids the offers Decrease sell side cursor Hotkey Description Buy at Buy Side Cursor Enter buy order at price of buy side cursor Delete
273. file Save the file on a shared network if you want to share it gt To save your Customer Defaults file to a network 1 From the Control Panel click the Settings menu and choose Properties Click the Order Entry tab In the Customer Defaults section click Browse In the Look in field click the down arrow and select the network drive to save the file In the File Name field type the new name of your Customer Defaults profile Click Open Review the Location field on the Customer Defaults tab Click OK to save CR Sy re D D You successfully saved your Customer Defaults file to a network 92 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Using the Customer List The Customer List window contains all the customer profiles with Wawapa the SEL box marked in the Customer Defaults dialog box It lets lt Default gt you populate all open order entry windows with a customer by JANE DOE selecting it once from this list JOHN DOE Alternatively you can select your customers in specific windows before you trade You also use the Customer List to select the account number of a customer for the AutoFilter option gt To use the Customer List 1 From the Control Panel click the Window menu and choose Customer List From the Control Panel click the Icon The Customer List window appears From the Customer List window click the customer you want to use The custom
274. fills from full fills The default is yel low e Middle Pane Adds the middle Partial Fills pane e None Hides partial fills You successfully shown or hidden partial fills Displaying Fill Details In the Trade Book Window gt To display detailed fill information about an order Click on a row in the top or Summary pane of the Trade Book window TT_TradeBook 1 a CE I o i s SSS C 1823548 000 18 23 55 000 18 47 23 000 i 1347 29 85 1847 29 000 101005 13 4719 07 1857 14 030 10 1005 1317 1318 185200 000 101005 13 53 0022 tong 20 nn manne sare nso OECOS 18 24 08 000 GOOFS 101005 43 240832 DECOS 92001005 18 24 08 000 BOOIFS 101005 13 24 08 32 The detailed information will be displayed in the bottom or Detail pane You successfully displayed detailed fill information about an order 368 X_TRADER User Manual Trading Technologies International Inc Trade Book Overview Sorting Trade Book Data By default the Trade Book window sorts by last fill time with the most recent fill at the bottom of the pane Define the sort order by column and up to three levels in ascending or descending order gt To define the sorting parameters of your Trade Book 1 Right click inside the Trade Book window to display the context menu 2 Click Sort The Sort dialog box displays Sort by Ascending Exch xchange Descending Then by Ascending Product Descending Then by E
275. for all positions Can be expanded to view a summation line for all positions per exchange Can be expanded to view a Summation line for each product Can be expanded to view 1 2 3 4 a detailed line for each contract 5 Displays your open Profit and Loss Refer to Calculating Profit and Loss on page 357 6 Displays total transactions on a series product basis 7 Displays number of fill lines on a contract and product basis 8 Displays ratio of transactions to fills on per contract and product basis Note The Position pane may contain the letter o in the Contract column when the position represents an option This distinguishes between futures and options positions for the same products that have identical expiration dates This can occur on the LIFFE exchange For example a futures and options position for product B Jun09 expiration on LIFFE displays Jun09 futures position and oJun09 options position 354 X_TRADER User Manual Trading Technologies International Inc Fill Window Overview Position Pane Grid Summary The Position pane provides net position information by product and contract Profit Loss P L calculates using confirmed fills To hide columns refer to the Position Pane Context Menu on page 356 AvgSell Open P L 49711 19453 2 i 17444 5 5 3400 00 8510 0 15 s 2502 12096 9 11 wie 12026 0 0 0 0 _ 00 4 6 iy 12292 0 0 0 100 00 0 8850 0 120 j 7858 0 25 118850 956030 9
276. ft Access opens and displays ten 10 days worth of Audit Trail history The available dates display by month and day i e MMMDD Dec 31 You successfully viewed Audit Trail History 156 X_TRADER User Manual Trading Technologies International Inc Audit Trail Overview Audit Trail Column Descriptions Columns can be hidden and shown on the screen while you view the Audit Trail You can also set which columns are automatically visible every time you access the Audit Trail on the Audit Trail tab on the Properties menu AuditTrail ogg ER Oty Product Contract Limit Stop Pre Type TIF _ a eCBOT amp ACCEPT eCBOT A OK eCBOT OK The time your workstation receives the message The Exchange sending the message The description of the message sent by the Gateway Examples OK Er error Accept Info Alert Warn Warning The described event The result of the event Examples Add Change Delete Fill Partial Fill Hold Submit Buy or Sell in reference to an order Open or Close in reference to a position Call or Put in reference to an order The quantity in an order Product The traded product s exchange symbol Examples FGBL ODAX Contract The month and year of expiration for the contract The exercise price of option The limit price of a contract The stop trigger price of contract A Limit or Market type in reference to the order The time the order is in force Example Good til
277. g 310 set outright or spread price 313 tabbed 193 trading 311 Spread Matrix tab 121 Spread Strategies 239 adding 242 created outrights and X_TRADER 240 creating 241 deleting 244 recreating 243 renaming an existing 243 SFE custom market 240 trading with 242 Spread Table adding 83 copying 84 removing 84 saving 84 setup 82 Start of Day Fills 353 Starting Plug ins 151 Startup Workspaces 72 453 Trading Technologies International Inc Proprietary and Confidential Information Index Status Trading tab Status confirming market orders inquiries of exchanges of quotes at shutdown Stop Order in md trader Stop trigger Storing audit trail Strategies adding amending creating deleting recreating renaming trading with Strategy Wholesale Orders Strike de activating de activating multiple Submitting a mutual offset order against actuals trade basis trade block trade eurex block order flex options trade Support Synthetic Disclosed Quantity Orders T Tabbed windows Table of contents Theoretical Pricing establishing a link for using excel Tick Formula TIF Time and Sales color codes context menu field descriptions filtering on quantity of rspecific contracts filters hiding columns in md trader overview populating properties reading 454 291 268 173 184 332 37 236 303 268 303 162 239 242 244 241 244 243 243 242 399 234 235 181 391 388 385 219 396 28 185
278. g the Order Change Dialog Box on page 224 e Using the Floating Depth Window e Using the Floating Order Entry e Using Click Trading gt To trade with the Floating Depth Window 1 In the Market Grid or Spread Matrix window put your cursor over a price or quantity field for a con tract you want to trade Launch the Floating Depth Window according to the property you set in the Trading tab on the Properties menu _Cancet ALL 14266 0 RR on No 2 322 0 14268 0 4 14267 0 8 14266 0 1 142650 11 14267 0 14264 0 377 rine I Click the row at the price you want to trade Your Order Entry window seeds with the contract and price you clicked Adjust your quantity 5 6 Adjust your Time in Force options Click Buy or Sell to trade You successfully traded with the Floating Depth Window gt To trade using the Floating Order Entry 1 2 Click any of the price or quantity cells to populate data in the Floating Order Entry window The Floating Order Entry window appears This can be the Order Entry pane MD Trader or the Order Bar Use the Floating Order Entry window to submit your order You successfully traded using the Floating Order Entry X_TRADER User Manual 311 Trading Technologies International Inc Proprietary and Confidential Information Chapter 9 gt To Click Trade in the Spread Matrix 1 Right click in the Spread Matrix window to access the context menu and click Clic
279. g the mouse e Trading out of a position using the keyboard X_TRADER User Manual Trading Technologies International Inc MD Trader Overview gt To set the Tradeout method 1 Open MD Trader 2 Right click anywhere in MD Trader and click Properties 3 In the TradeOut Method section choose your trade out method e Using LIMIT Order lt n gt of ticks to skew e Using MARKET Order 4 Click the MD Display tab 5 Click to select the Show TradeOut button The TradeOut button automatically displays in MD Trader 6 To set this property for all subsequently opened MD Trader windows click to select Set as Global Default 7 Click OK You successfully set the Tradeout method gt To trade out of a position using your mouse 1 Set your Tradeout method locally or globally 2 Click the TradeOut button in MD Trader Before sending the offsetting order MD Trader sends delete requests for all working orders for that contract MD Trader then sends an order that allows you to exit from your position regardless of your credit limit You successfully traded out of a position using the mouse gt To trade out of a position using the keyboard 1 Set your tradeout method locally or globally 2 Press the shift t key Before sending the offsetting order MD Trader sends delete requests for all working orders for that contract MD Trader then sends an order that allows you to exit from your position regardless of your cr
280. ge By Sets the number that the Bar Qty changes when you press CTRL and the ARROW RIGHT or ARROW LEFT keys e The CTRL and ARROW RIGHT combination decreases the Bar Qty by the value you type in this box e The CTRL and ARROW LEFT combination increases the Bar Qty by the value you type in this box X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Volume at Price Using these shortcuts you can adjust the bar size while trading without reentering the MD Display tab Mouse tooltips Displays total volume at price as text when you hover the mouse over the par ticular cell in the Last Traded Quantity column Volume at Price Notes e MD Trader generates and displays approximate values They are not guaranteed to be the exact trading volumes for any given trading period e Incorrect or under reported actual volume may occur due to price consolidations at the exchange or Gateway levels Format Description Digits for work Sets the number of spaces between the letters and numbers in the working ing exec order quantity column Maximum number is 11 Digits for price dis Sets the number of digits displayed in the price column Right side digits are play truncated Maximum number is 11 Set row height Sets the height of each row in pixels Price Con Description solidation Prices per line Sets the number of rows to condense when consolidating prices Refe
281. grid visible in the window Market Explorer Displays the Market Explorer window Follow these procedures to use the Frame Command Bar buttons e Resizing a Window Grid e Printing in X TRADER Note Not all X_TRADER windows contain Print or Print Preview buttons Resizing a Window Grid Resize the window grid by using the Reset Zoom in and lal Zoom out buttons in the graphic above The Reset button sets the window back to its default size Note In certain instances it is possible to also use the mouse wheel to perform a zoom function Refer to Using the Mouse to Control the Zoom Feature on page 278 fora procedure gt To resize a window grid 1 Click a grid to make it active 2 Click the Zoom Out or Zoom In button to shrink or enlarge the text You successfully resized the grid of a window gt To reset a window grid 1 Click a grid to make it active 2 Click the Reset button to return the window grid to the workspace settings You successfully reset the window grid X_TRADER User Manual 61 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Printing Most X TRADER windows offer Print and Print Preview frame buttons located in the top right hand comer of the window Crip If you regularly print data from X_TRADER you may want to create a workspace that is pre formatted to display only the information you require You will format the window only
282. gs gt To change a product group s settings 1 From the Control Panel click the Settings menu and choose Product Group Setup The Product Group Information dialog box appears 2 Click the Product Group in any cell on the bottom half of the screen Note If no product groups display you have no product groups to change 3 Make any desired changes in the entry section of the top half of the window 4 Click the Change Group button Note The changes are not saved until you close the Product Group Information dialog box 5 Click OK to save and exit You successfully changed a product group s settings Deleting a Product Group gt To delete a product group 1 From the Control Panel click the Settings menu and choose Product Group Setup The Product Group Information dialog box appears 2 Click the Product Group in any cell on the bottom half of the screen Note If no product groups display you have no product groups to delete 3 Click the Delete Group button 4 Click OK to save and exit You successfully deleted a product group X_TRADER User Manual 79 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Associating a Product to a Product Group Each quoted product must be associated to a product group that you have created It is the product group that determines how a quote is generated Therefore each product must be associated with one and only one product group in ord
283. gure BL Block Order Type Block Trade field descriptions submitting Block Trading accepting a sell side inquiry modifying submitting a buy side Broken Workspace BrokerTec hold in timer 444 155 157 158 58 161 160 156 156 159 41 111 234 162 381 111 162 261 42 236 145 145 414 202 414 357 261 253 386 387 388 29 292 293 196 419 424 292 293 291 383 384 385 218 220 221 219 219 73 406 409 413 leave checkbox placing passive and aggressive orders tick formula working up orders Butterfly Condor Matrix calculations canceling working orders click trading customizing features generating properties trading Buy Side Keys in MD Trader C Calculating Profit and Loss in Fill Window Canceling Working Orders spread matrix 413 410 414 412 316 318 312 312 309 310 317 313 311 279 357 312 Canceling Replacing an order in the Order Book 335 CBOT cross order execution Centering the Market in MD Trader using the keyboard Changing an order with the order bar block trades butterfly condor matrix button size on control panel column widths customer defaults profile default colors for Excel links event sounds fonts grid text or colors hotkeys order change dialog box order quantity in md trader orders in the order book product group settings quantity buttons in market window quantity buttons in md trader quantity or price using the keyboar
284. h The pricing of the Condor Matrix Month 1 Month 2 Month 3 Month 4 Note Implied data does not display for Condor Matrices because LIFFE does not match implieds from Condor Matrices CME GE mr m G ces Calendar Cancel Spreads J Cancel Outrights Last Pre Het Pos Contract Outright 97685 187 Calendar SEP08 3768 0 1321 25 14482 Butterfly 9766 5 146 9766 1453 DECOS 9758 0 579 97575 1149 9742 0 1745 16 0 7997 9741 0 2319 21 0 17396 9721 0 473 EEH 1682 9720 5 584 24 5 25 24 5 3647 5 9646 5 9623 0 316 X_TRADER User Manual Trading Technologies International Inc Spread Matrix Overview Most of the procedures and features for the Butterfly Condor Matrix are the same as the Spread Matrix Follow these procedures to use the Butterfly Condor Matrix e Generating the Butterfly Condor Matrix e Customizing the Spread Matrix e Trading with the Spread Matrix e Changing a Working Order Spread Matrix e Canceling Orders e Setting Outright or Spread Prices Generating a Butterfly Condor Matrix You generate a Butterfly Condor Matrix using an existing Spread Matrix Note Implied data does not display for Condor Matrices because LIFFE does not match implieds from Condor Matrices Follow these procedures to generate a Butterfly Condor Matrix e Generating a Butterfly Condor Matrix e Viewing a Butterfly Condor Matrix in the same window as a Spread Matrix
285. h sides are matched In both cases if the first side fills partially or completely the second side of the cross order still submits 6 Click OK You successfully enabled Cross Trading 212 X_TRADER User Manual Trading Technologies International Inc Market Window Overview gt To execute a cross or cross with trade Note Remember that you must have previously set up customer profiles for each client you wish to conduct cross trades with 1 In the Order Entry pane click the Cross tab Note If your Order Entry pane does not display the Cross tab see the preceding procedure 2 Click Cross or Cross w 3 If you selected Cross click the buyer or seller from the list boxes Cross Equities Cross w Cross Buyer m Seller MIKE v If you selected Cross w click to select your Opp Side Cross Equities Cross w Opp Side TTGV O Cross OK 4 In the Market Grid select a contract 5 Enter the quantity and price in the appropriate fields 6 If you want to send or are required to send by the exchange an Intention to Cross notification click the ITX button The timer counts down 7 To execute a cross trade click Buy First or Sell First or To execute a cross with trade click Crs Buy or Crs Sell You successfully executed a cross or cross with trade Cross and Cross With Trades Use Cross trades in exchanges other than LIFFE CONNECT to indicate
286. h the same Group ID resubmits it A stop limit order is accepted when the limit price meets these criteria e Trigger price lt Best Ask price for a Sell Stop Limit e Trigger price gt Best Bid price for a Buy Stop Limit e Trigger price lt Limit price for a Buy Stop Limit e Trigger price gt Limit price for a Sell Stop Limit A stop limit or market order is triggered only if the last traded price is within the trigger range The trigger conditions are e Last Traded price lt Trigger price for a Sell Stop order e Last Traded price gt Trigger price for a Buy Stop order Stop orders in place for the same product at the same trigger price for the same trader or multiple traders process in a FIFO first in first out order Invalid Price Levels When you position the cursor over an invalid price level a circle with a slash through it appears Invalid price levels are as follows e Buy Stop Attempt to buy below the inside Bid e Sell Stop Attempt to sell above the inside Offer X_TRADER User Manual 303 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 P gt To 1 Placing Stop Orders Follow this procedures to place Stop orders place a Stop order If you have a specific customer account you want to trade for select it now Note You can setup customer profiles or use the lt Default gt profile to trade with From the Market Grid click in the appropriate e
287. hapter 6 Sequence of Events Trading Eurodollar Options follows this sequence of events e Market Makers supply indicative bids and indicative offers whose prices display in new indicative columns in the Market Grid These prices are not tradable rather they show an approximation of the tradable price Note If you want an indicative price not shown send an RFQ for an indicative price e You send out an RFQ for a tradable price on any commodity Note Commodities do not have to already have an indicative price to request a tradable price e Market Maker supplies a tradable price that appears in the Bid Price and Ask Price col umns like any other contract in X_TRADER e You decide whether to make the trade gt To trade Eurodollar Options 1 Log on to CME 2 Enter Eurodollar Options contracts into the Market Grid 3 Right click the Market Grid and click Select Columns 4 Click to select IndBidQty IndBidPrc IndAskPrc IndAskQty Indicative prices and quantities appear in the Market Grid Right click the contract you want to get a tradable price on Click Send RFQ In the Qty field enter a quantity you want to get a tradable price on In the Side field click the kind of trade you want tradable prices on Buy Sell or Both Sides In the Ind Tradable field click Tradable 10 Click Send A tradable price will be appear in the Bid Price or Ask Price columns on the Market Grid 11 Execute the trade using the Market Grid
288. he dialog box Run your Excel model You successfully created a link from X_TRADER to Excel 200 X_TRADER User Manual Trading Technologies International Inc Market Window Overview gt To create a link from an Excel worksheet to X_TRADER 1 Make sure the Market Grid Imp or Theo columns are in the same order as your Excel model Or you can repeat the steps below to copy and paste links for each column of data To display these columns right click anywhere on the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 3 Click Show Hide columns 4 Click to select the ImpBidPrc ImpBidQty ImpAskPrc ImpAskQty TheoPrc TheoBid and TheoAsk columns Make sure your Market Grid Imp or Theo columns are in the same order as your Excel worksheet columns 6 Select the Excel cells to be copied to X_TRADER 7 Right click within the selected area to access the Excel context menu and click Copy 8 In the Market Grid right click the cell to paste the Excel data and click Paste Link from the Market Grid context menu Your Excel data appears in your Market window You successfully created a link from an Excel worksheet to X_TRADER By default the Market Grid cells fed from the Excel model are light blue with black text gt To change the default colors for Excel Links in the Market Grid 1 From the Control Panel click the Settings menu
289. he first leg completely fills the second leg still goes to the exchange e The X TRADER Gateway rejects sequential fast cross orders 214 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Click Trading Overview Click Trading lets you right click the bid price to send a limit sell order or right click the ask price to send a limit buy order HET CME 6E 5 alak j DEAR l s 0 Orde 100 500 0 0 lt None gt Open vla v Clear Ww WwW lt Default gt v lt Click g a Cicko lt Dime a Theo a v Offset Y v B A lt Defaul gt 136410 13647 0 13641 0 64 61565 12 0 13671 0 136740 P 13671 0 1 336 15 0 123606 0 13700 0 3 13606 0 5 100 16 0 13715 0 13721 0 8 28 137310 13744 0 8 8 Grid 1 Grid2 l Follow these procedures to use Click Trading e Enabline Disabling Click Trading e Setting Default Properties in Click Trading e Using Click Trading Notes e When you enable Click Trading all safety measures are removed e The Lock and Hold features are not available when Click Trading Enabling Disabling Click Trading gt To enable or disable click trading 1 Right click anywhere in the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 2 Click the Click Trade On option to enable or disable click trading A checkmark indicates you enabled th
290. he manual fill trade you want to delete Note Manual fills are identified by the m in the Open Closed O C column 3 In the Fills pane right click an open area and choose Delete Manual Fill The Fills and Position panes update to reflect the fill deletion You successfully deleted manual fill from the Fills pane Saving a Manual Fill In order to save a manual fill you must enable the Save Manual Fills option on the Fill tab in the Properties menu C Fills alert C Display strategy positions Save manual fills If you have manual fills on multiple exchanges and you close X_TRADER when you reopen it you are prompted to log into all exchanges where you have manual fills Notes e You can add manual fills for future spreads and options strategies as well as out right futures and options e If you have an Add Manual Fill dialog box open and try to open a second you are asked whether you want to override the current settings with the new spec ified fill If you click OK the Add Manual Fill dialog box populates with data from the new fill 362 X_TRADER User Manual Trading Technologies International Inc Fill Window Overview Fast Fills Pane Overview Fast fills are orders in which only partial information about the order is supplied Only some exchanges offer fast fills Note The Fast Fills pane is turned off by default X_TRADER provides fast fill information to mitigate the potentially significant
291. hover When you hover the cursor over the product Note Launch methods for the Depth window and Floating Order Book must be different Order Designates how your floating order entry pane appears when called Entry e Order Pane The Order Entry pane on the Market window e MD Trader An MD Trader with a yellow border e Order Bar A thin red or blue interface which can be used in conjunction with hotkeys Multiple order entry windows Launches a separate floating order entry window for each window with floating order entry enabled For example e Two separate Market Grid windows e A Market Grid and a Quote Board Note A Market Grid with two tabs launches the same floating order entry window 98 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Floating Description Windows Refer to Using Multiple Floating Order Entry Windows on page 179 Join on Left Click Joins the bid or ask as opposed to aggressing against a bid or ask Enabled when Order Bar is your Floating Order Entry Product Name Default name Labels the contracts using the product name used by TT Alias name Uses the alias names from the Guardian product tables as the product name Use Exchange Labels the contracts using the exchange name contract names when applicable Options Display Call Put Displays each strike on a single line of the Market Grid with the calls on the left side and the puts on the nght Call
292. ht or width of multiple rows or columns 1 Click the row or column heading to select the entire row or column 2 Press and hold the crru key and continue clicking rows or columns to select multiple rows or col umns Then release the cra key 3 Move the cursor to the end of one selected row or column heading until the cursor turns into a dou ble headed arrow 4 Click and hold the mouse button and slide the row or column to the desired size 5 Release the mouse button All highlighted rows or columns change to the desired size 6 To retain these settings save your workspace You successfully changed the height or width of multiple rows or columns 60 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks Frame Command Bar Overview Some windows have sizing and printing buttons in the titlebar These buttons are located to the immediate left of the standard Windows Close Window Minimize and Maximize buttons Print Preview Displays the standard Print Preview dialog box Here you can preview the information before printing it Displays the Print dialog box Here you can select your printer and other options as well as submitting the document to the print queue Resets the window view back to the original default size Expands the contents of the active window making less of the grid visible in the window Contracts the contents of the active window making more of the
293. hting 1 From the Control Panel click the Settings menu and choose Properties Note If Click Trading is enabled do not click in the Bid Ask price columns 2 On the Trading tab click to select the Highlight best price option You successfully enabled Best Price Highlighting 196 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Viewing Price Trend Indicators in the Market Grid The LastPre Last Price column in the Market Grid indicates if the last trade for a given product occurred on an uptick downtick or with no change in the price The cell border highlights in green to indicate an uptick and red to indicate a downtick If there is no change in the last traded price the cell is white Opening Wholesale Orders The Wholesale Orders option offers different ways to submit Wholesale Orders on the LIFFE exchange Wholesale Orders he Block Basis Against Actual Exchange for Swap Formatting Flex Options Price Format h e Block Block trades are high volume trades in any outright or strategy product e Basis Basis trades are strategies for long term bond markets that incorporate a futures leg and an underlying or cash leg e Against Actual Against Actuals trades are strategies for commodities markets that incorporate a futures leg and an underlying commodity leg e Exchange for Swap Exchange for Swaps trade a position in the underlying for a futures posi
294. i Ti ss yds 176 Floating Order Entry Notes 178 USING MULTIPLE FLOATING ORDER ENTRY WINDOWS 179 SUBMITTING AN ORDER USING THE ORDER ENTRY PANE ee 180 SUBMITTING A MUTUAL OFFSET ORDER one 181 USING THE MOUSE TO CONTROL ORDER QUANTITY AND PRICE 182 CUSTOMIZING THE QUANTITY BUTTONS se 182 SETTING THE DEFAULT QUANTITY ooo 183 CLOSING THE O RDER ENTRY PANE O eat e oat eons eusuys talla a ick eee 184 CONFIRMING THE STATUS OF MARKET ORDERS eee 184 ESTABLISHING A VAIGABLE GREDIT o L ade gsi too ed Lise Sh bo vu bus GA Sa TU da sees 185 SYNTHETIC DISCLOSED QUANTITY ORDERS 185 MARKET GRIDPANEOVERVIEW CjO y COaaaaaaaaa LLL 186 CUSTOMIZING THE VIEWABLE MARKET GRID COLUMNS ss LLL 186 MARKET GRID PANE FIELD DESCRIPTIONS ss 187 USING THE MARKET GRID CONTEXT MENU sss 190 U SEINGSEABBED WINDOWS a e st A wrk aI bk iw ied note on Wee dna ined ua ag 193 ADDING SPACER ROWS C coe oo ited Be hes lee ee a eee Ee aT U tu 195 HIGHLIGHTING INTHE MARKETGRID 2 196 Highlighting Your Orders sssaaa desee sak paca adie a ees Jat 4a advise sade ane ni un enolic 196 Best Price Highlighting 810 0 cede decncoweet han duu bau hace Acme a aul eddy s u eu eo si 196 VIEWING PRICE TREND INDICATORS INTHE M ARK
295. ibution method join the bid or offer that enters orders for the consolidated price rows gt To consolidate your prices 1 2 3 4 5 N Open MD Trader Right click anywhere in MD Trader and click Properties Click the MD Display tab In the Price Consolidation section type in the Prices per line and Offset If you want to see the slider click the Show Slider Control Increment and type in how many ticks each increment stands for To set for all subsequently opened MD Trader windows click to select Set as default 7 Click OK You successfully consolidated your prices 262 Example The right MD Trader window in the following screen shot displays a consolidated price with the increment moved to 3 CME EROcTOSc55500 X cme ER OCTO5 C5550 E E R 14 02 14 Note MD Trader is protected by U S Patents Numbers 6 766 304 and 6 772 132 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Creating a User Defined Price Column You can create a User Defined Price UDP column in MD Trader using the MD Advanced tab This column appears to the left of the standard price column and can be set to show the Net Change Price As Yield Yield To Maturity or a custom pricing model for a given contract In the following example the Net Change is shown in decimals For help creating the User Defined Price column see the MD Adva
296. ically settled e EBS contracts persist from day to day as the same contract However in reality each day is a new contract Example If you go long 1 USD EUR on Monday and on Tuesday go short 1 USD EUR you are not considered flat On Wednesday you settle your long position On Thursday you settle the short position Similarly the USD CNY M1 settles one Month in the future e Markets may cross on the EBS platform In FX terms EBS is a choice market as you may choose to buy or sell at that same price Choice markets occur when par ticipants who do not have bilateral clearing arrangements have bids and offers at the same price e Depth is only supported for the nine most liquid pairs and displays three levels on those contracts e The minimum order size for currencies is the equivalent of 1 000 000 U S dollars of the base currency EUR USD EUR Base Currency USD Counter Currency Example Buy 1 USD CHF 1 4655 buy 1 000 000 USD at a cost of 1 465 500 CHF Sell 1 EUR USD 9878 sell 1 000 000 EUR for 987 800 USD The following notes are specific to trading EBS on X_TRADER e EBS orders are only live while you are connected to the exchange Your orders are deleted from the exchange on logout or disconnect but they are held by the Gateway All unsolicited deletes result in the order being put on hold e EBS only accepts GTC and IOC orders We suggest you e Set the Time In Force TIF for the EBS market to GTC
297. ich always leaves specified contracts showing even if eae do not have an active bid active offer or last price a ee cme semana e rr Tera Without Live Only enable cese ATT comaa wasay aos Fm stosa Barre Askere akay wesens meiros taste Lastan voine emna i a sss k ALL nabled 10 110225 114265 10 gt To view Live Only contracts 1 Right click the Market Grid 2 Highlight Live Only Mode and click Live Only You successfully viewed Live Only contracts 204 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Floating Depth Window The Floating Depth Window is a popup window which appears in the Market Grid or Spread Matrix letting you trade from a contract s depth quickly The Floating Depth Window e Provides three levels of merged aggregate depth for both bids and offers Floating Depth Window e Supports both implied prices and synthetic orders Follow these procedures to use the Floating Depth Window e Setting up the Floating Depth Window e Trading with the Floating Depth Window gt To set up the Floating Depth Window 1 From the Control Panel click the Settings menu and choose Properties 2 On the Trading tab in the Floating Windows section choose how you want to launch the Depth Window Your options are Floating Windows e lt Disabled gt Order Book Middle click v e Middle click Depth Window Mouse hover v e Mouse ho
298. ick the Trl icon 2 From the Guardian window click the Mode menu 3 Click to select Simulation 4 Click the X in the upper right corner to close the Guardian window You successfully set X TRADER to Simulation mode gt To set X_TRADER to Production Mode When you are comfortable using X_TRADER and want to begin live trading you can set it back to Production mode 1 ExitX TRADER 2 From your desktop toolbar in the lower right comer of your screen double click the Trl icon 3 From the Guardian window click the Mode menu 4 Click to select Production 5 Click the X in the upper right comer to close the Guardian window 6 Restart X TRADER You successfully set X TRADER to Production mode X_TRADER User Manual 29 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 gt To begin working with X_TRADER 1 So SV DA Pe et Log into X_TRADER Create a Customer Profile Select a product from the Market Explorer and populate a functional window Enter a Market Order Track messages using the Audit Trail Track Orders using the Order Book Track fills using the Fill window Save your workspace You successfully begun working with X_TRADER Login Procedures 30 To begin trading you must first log into X_TRADER You do this in the TT Exchange Login dialog box Your System Administrator supplies the login data After your first login all data exc
299. ieds second generation implieds occur when one of the prices you are using to imply another price is itself an implied price A first generation implied is composed of only direct prices A second generation implied requires one first generation implied price and at least one direct price Implied functionality varies by exchange dissemination rules may be different than matching rules and exchanges may give priority in matching to different generations These rules continually change based upon market demand Formulas e Implied Bid Price Leg B Bid Price Leg A Ask spread price for Spread AB e Implied Bid spread Price for Spread BC Imp Bid price Leg B Ask Price Leg C In the example below e Implied Bid Price Leg B 5900 10 5910 e Implied Bid spread Price for Spread BC 5910 5925 15 Implied Quantities Implied quantities are typically the minimum quantity shared between two outright leg orders In the example below the implied April May bid price has a quantity of 75 This is limited by the 75 May Ask quantity 228 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Quoting Overview You can generate quotes in X_TRADER through a proprietary theoretical pricing model using spread table s and product group s You can respond to RFQs manually or enable autoquoting to automatically send a response Before you can use the quoting features within
300. ifferent ID production mode simulation mode status colors support universal log in X_TRADER Pro GIS Global Client Support Center Grid changing formatting Grid column descriptions GTC GTD Held Orders audit trail messages Help context sensitivity getting support menu Hiding partial fills in the trade book rows or columns windows Highlighting in the Market Grid Hold in timer Holding Orders in the Order Book Hotkeys ICE understanding flow 202 308 29 41 42 29 43 39 40 42 30 30 34 30 29 29 37 28 34 38 173 339 28 60 57 437 173 339 173 339 337 156 43 28 149 368 58 376 48 196 413 337 143 279 283 427 432 X_TRADER User Manual Trading Technologies International Inc Iceberg characteristics deleting rounding If Touched Immediate or Cancel Implied Prices or Quantities Implied In Implied on Implieds Implied Out in X_TRADER Implied Pricing establishing a link for using excel for Implieds quantities Index Indicator Columns in MD Trade Invert price column IOC IT K Keep MD Trader on top Keyboard centering the market in md trader controlling quantity or price EBS default keys entering orders in the market grid floating order book md trader procedures unrestricted order bar procedures in md trader combo dime combo join deleting orders dime the bid dime the offer enabling keys entering a buy entering a sell entering order quantity hi
301. ighted quantities gt Retain History Saves your time and sales data based on the following properties Maximum File Size Maximum file size allowed before automatic purging Default is 25MB Number of Days to Number of days to save files before automatic purging Default is 3 days Save Files 1 5 Restore Defaults Restore Defaults Sets all properties on the Time and Sales tab back to their default settings 124 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview MD Trading Tab Use the MD Trading tab to customize trading parameters for MD Trader Note When accessed via the context menu the Set as Global Default checkbox at the bottom of the tab applies these properties to all subsequently opened MD Trader windows MD Trading Order parameters Enable Order Types M situ order quantity 100 MKT Market SM Stop Market g Right click action in buy sell column MSL Stop Limi ticks from entry price OTS Trailing Stop ICE Icebeig MJOC Immediate Or Cancel C Delete all when LTO column clicked MJFOK Fil Kil Z Button actions on mouse DOWN CIMLM Market Limk F Allow only one cedes per side MV Minimum Volume V GTC Good Til Cancel JOO Limi On Open CILOC Limt On Cose UT Limit If Touched IMIT Market If Touched MJMTL Market To Limit JLTM Limit To Market On Close MISL Best Limit oco C Enable Qty change on left right click in edit fields Orde Buttons Brok
302. ilters Overview z Time and Sales SEE i245 ES ES MAR MS Price Fiter 14 12 45 ES ESMAR L lBegn CJEnd 14 12 45 ES MAR 14 12 45 14 12 44 14 12 44 14 12 44 14 12 44 14 12 44 14 12 44 14 12 43 sm sm Added ES MAR All the columns in the Time and Sales window can be filtered using a selection of criteria from a drop down list The presence of an applied filter is indicated by a red color code in the cell immediately below the column heading Use these filtering procedures in the Time and Sales window e Refer to Setting a Column Filter on page 50 e Refer to Clearing a Column Filter on page 51 Each row is subject to filters applied to the Time and Sales window If filters are applied only product information that fits the filter criteria appears Information that does not meet the filtering constraints is not shown All information is stored in a file called TAS Data YYYYMMDD_000001 csv in the directory lt root drive gt tt datfiles tsdata X_TRADER User Manual 377 Trading Technologies International Inc Proprietary and Confidential Information Chapter 14 Filtering on Quantity for Specific Contracts You can filter your Time and Sales window based on quantities recorded for specific contracts Oty Filter Product ZB 6E gt To filter on quantity for specific contracts 1 Inthe Time and Sales window click the Qty column 2 Click the Product option 3 Type a
303. ime and sales 274 450 auto centering average price highlighting average price of open position changing order quantity changing working orders consolidating prices context menu control the zoom creating user defined price column 138 customer profile customizing quantity buttons default quantity 183 deleting orders excel links in features field descriptions game pad control indicator columns inside market mid point keep on top keyboard maps in buy side functions sell side unrestricted keyboard procedures in centering the market combo dime combo join deleting orders dime the bid dime the offer enabling keys entering a buy entering a sell entering order quantity hitting the bid join the bid join the offer loading the net position sending a market order setting the limit price sweeping the market taking the offer laser line limit price maximum trade quantity moving columns net change indicator one click trading order types and restrictions populating X_TRADER User Manual Trading Technologies International Inc 261 261 253 254 255 262 252 278 263 256 273 275 257 285 276 249 246 290 276 266 266 279 279 279 279 281 279 253 289 289 285 288 288 282 284 285 285 287 288 289 286 286 286 287 287 277 286 270 278 256 267 291 250 Index MD Trading tab Order Types and Restrictions properties 260 time and sales 371 local 260 trade book 365 re
304. in Customer Defaults window or e Adda Sticky GTC button to MD Trader on the MD Trading tab in the Prop erties menu e If you are trading EBS through Autospreader and Autotrader you can set your TIF for customers in the Customer Defaults window All other order restrictions are ignored for Autospreader and Autotrader e EBS does not publish traded volume and price reporting is timesliced In the Time and Sales window EBS trades are provided without quantity and not all trades will display e The Estimated Position in Queue EPIQ column is disabled for EBS contracts 426 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Trading ICE The Intercontinental Exchange ICE is an internet based marketplace for the trading of OTC energy metals and other commodity products ICE Futures formerly known as IPE the International Petroleum Exchange electronically lists energy futures and options contracts as well X_TRADER supports the trading of the following products e ICE Futures e ICE Cleared OTC products Note Contact TT Support for questions regarding the specific list of supported products This release does not support ICE or ICE Futures Exchange Options or ICE Bilateral Deals Bids and offers entered into WebICE as ICE bilateral orders do not display in X_TRADER Clearing The ICE Futures exchange is a standard futures exchange which clears their own contracts The following opt
305. in the Bid Ask price columns 58 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks 2 Click Hide Show Row s or Hide Show Column s 3 Click to de select the rows or columns you want to hide 4 To retain these settings save your workspace You successfully hidden unselected rows or columns gt To hide a row or column by manually sliding it closed 1 Move the cursor between two row or column headings until the cursor turns into a double headed arrow 2 Click and hold the mouse button and slide the row or column closed 3 Release the mouse button This automatically de selects the row or column from the Hide Show Columns Rows options 4 To retain these settings save your workspace You successfully hidden a row or column gt To hide multiple rows or columns by manually sliding them closed 1 Click the row or column heading to select the entire row or column 2 Press and hold the crRr key and continue clicking rows or columns to select multiple rows or col umns Then release the crri key 3 Move the cursor to the end of the largest selected row or column heading until the cursor turns into a double headed arrow 4 Click and hold the mouse button and slide the row or column closed 5 Release the mouse button All highlighted rows or columns are hidden This automatically de selects the row or column from the Hide Show Columns Rows options 6 To retain th
306. in the spread table is used to generate the quote If the center price used for the calculation is 50 and the spread is 4 ticks the quote is 48 52 e N A When you set the quote type to Dime Join and Theo Bid Ask the spread type defaults to N A not applicable e Percent The chosen percentage of the price is used to calculate the spread The field is used to define the exact percentage The Percent spread type is subject to the spread table s defined Maximum Spread and the product group s defined Minimum Spread If the calculated quote is greater than the Maximum Spread the Maximum Spread is quoted For example if the percent calculated is 6 ticks and the spread table max is 4 ticks 4 ticks is used X_TRADER User Manual 77 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 10 In the Minimum Spread field set the minimum spread used to generate a quote Note This is the smallest number of ticks allowed to generate a quote If the calculated quote is less than the minimum defined then this minimum is used to generate the quote For example if the calculated spread is 1 tick and your minimum is 2 ticks the quote has a 2 tick spread Not applicable for Dime Join and Theo Bid Ask quote types 11 In the field if you chose the Percent Spread Type define the percentage of the price that will be used to calculate the spread Note Not applicable for Dime Join and Theo Bi
307. ing it e Once the seller has accepted the transaction the buyer cannot modify or cancel the transaction without contacting the exchange X_TRADER User Manual 219 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Accepting a Eurex Block or Volatility Order Sell Side Sellers should be in communication with the Buyers of the block trade and know when the trade initiates Information only available to the buy side of the trade is required to complete the block trading process Note Although block trading is defined as a trade between two parties outside of the normal exchange market the Eurex exchange is the third party involved Eurex checks the trade s quantity price and other information before determining approval After the exchange reviews the trade the Seller can complete their side of the transaction gt To accept a block trade on Eurex Seller acceptance l 2 With X TRADER open and logged into the Eurex exchange open the Order Book Right click in the Order Book to access the context menu and click Inquire Block and Vola Order The Inquire Block and Vola Order dialog box appears z Inquire Block and Vola Order Restriction Order Number Exchange Product Type Block w EUREXA FUTURE v Cancel In the Restriction field click whether the order is a Block order or a Volatility order 4 In the Order Number field type the exchange generated orde
308. ion You must activate the strike expiration before sending the quotes to market If a quote is not activated test quotes are generated but are not sent to market MARO7 a In the Market Grid the Quote column indicates the status of the strike expiration e A checked box in the Quote column indicates an activated strike expiration Gen erated or manually entered quotes are sent to market e Anunchecked box in the Quote column indicates a deactivated strike expiration Gen erated and manually entered quotes are NOT sent to market gt To manually activate or deactivate an individual strike or expiration Click to select activate or deselect deactivate the box in the Quote column Note Deselecting deactivating a strike expiration deletes a quote from the market if one exists You successfully activated or deactivated an individual strike or expiration 234 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Activating Deactivating Multiple Strikes or Expirations When viewing quotes from multiple windows a second quoting Market window with the same contract does not display all existing quotes The second window only sees data about live quotes after the workstation receives an update Additionally if you send a new quote with only a single changed parameter the first window displays the entire quote but the second window only receives an update of changed informatio
309. ion Not doing so could adversely affect how you see your position at the beginning of the next trading session gt To exit X_TRADER From the Control Panel click the File menu and choose Exit or In the top right hand corner of the Control Panel click the Windows Exit button If you have working orders in the market you are prompted At that time you can choose to continue exiting or return to X_TRADER and resolve them You successfully exited X_TRADER Automatic Shutdown of X_TRADER X_TRADER automatically closes after eight hours of inactivity when there are no orders in the Order Book and no new fills or price updates have been received X_TRADER displays a message informing you that it is closing If you do not take any action or if you click OK the X_TRADER application closes At this time this feature is not configurable 42 X_TRADER User Manual Trading Technologies International Inc Getting Started Using Context Sensitive Help From many X_TRADER windows you can access online help pertinent to the task you are performing gt To access context sensitive help 1 Click the X_TRADER window for which you want to view Help 2 Press the Fi key You successfully accessed context sensitive Help The X_TRADER windows that feature this context sensitive help are Add Manual Fill Alerts Manager Autospreader Manager Autospreader Configuration Advanced Settings Dynamic Settings Autotrader Autotr
310. ions for clearing exist on the ICE exchange e Cleared Standard clearing through a clearing firm e Clearable Either cleared or bilateral depending on the counter party e Bilateral Clearing negotiated directly between two counter parties All orders entered via X_TRADER will be entered as cleared orders The software does not support bilateral orders or bilateral fills All cleared contracts clear through the London Clearing House LCH X_TRADER User Manual 427 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Market Explorer w Market Explorer CONTAINS Market Gnd C Seach Descriptions Exchanges Products Selected Instruments ble ICE_IPE A AD Hub Q ICE_IPEA GA ICE_IPE A AUD CAD I ICE_IPE A AUD UPY ICE_IPE A AUD NZD Gi ICE_IPE A AUD USD O ICE_IPE A Basis AECO ICE_IPE A Basis ANA SW ICE_IPE A Basis Certezpi ICE_IPE A Basis CGOnshore O ICE_IPE A Basis Chicago _IPE A Basis CIG ML CE_IPE A Basis Dom South _IPE A Basis Heny _IPE A Basis HSC Product Types FUTURE E SPREAD c3 OPTION C ENERGY Hs FF SS amp There are 214 procts The ICE exchanges use a four tier structure to define a market They are defined by the following parameters Market Type Defines the product grouping e g ICE Financial Gas Brent Futures e Product Name Equivalent to instrument e Hub Defines delivery location e Strip Define
311. ivered fills the X_TRADERControl Panel becomes fully enabled You successfully logged into X TRADER X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information 31 Chapter 1 gt To log into another exchange during a session 1 In the bottom right hand comer of your desktop in the system tray double click the E icon 2 From the Guardian menu bar click the File menu and choose Trader Login The TT Exchange Login dialog box appears CMEA ecBor ecBOTA E gt Member Id D12345 Group Ic TEST Trader Id Password j CLR Member Delauk Account Pref Server 1234112345 Close 3 Select the appropriate exchange tab or double click the name from the Exchange List 4 Enter the login data provided by your X_TRADER Administrator 5 Click Login After your password is authenticated a checkmark appears in the box to the left of the exchange name 6 Repeat Steps 3 and 4 for any additional exchanges 7 Click Close 8 From the Guardian menu bar click the File menu and choose Exit to exit Guardian You successfully logged into another exchange during a session 32 X_TRADER User Manual Trading Technologies International Inc Getting Started gt To log into X_TRADER with a different Trader ID 1 Close X TRADER s Warning If you attempt to log in via the Guardian Trader Login option without closing X TRADER the login app
312. k Maket Maker Cross Guaranteed Crossing Asset Allocation Prof Trade Send X_TRADER User Manual 383 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Block Trade Window The fields in a Block Trade window vary depending on the type of product or strategy you trade If the product is a strategy the associated legs for that strategy are listed in a set of fields in the lower half of the Block Trade window The Quantity and Price fields must be filled for each leg of the strategy in order for the trade to be accepted General Descriptions Fields Name and identification of the contract series This fills with the product infor mation in the Market window Maturity month of the contract This fills with the product information in the Mar ket window Auto Market Reference unique exchange specific product identifier This fills with the product information in the Market window Price of the product Quantity of the product to be traded Transaction A code uniquely identifying the trade Code Buyer Descriptions Seller Fields An exchange mnemonic uniquely identifying the trader Account code for this trade Can be one of the following H House L Local S Segregated or N Non segregated Open Close Indicates whether this trade opens or closes a position Clearing code Valid entries include 1 2 3 4 U for unassigned and A for allo
313. k Price Highlight Blue border outline Best Bid Price Highlight Red border outline Blank Label Row Tan with brown text Grid Background Text Tan with brown text Grid Line Header Background Text Tan with brown text Market Depth Level 1 7 Default color follows the NASDAQ Level II color conventions Net Change Down Red with black text Net Change Unchanged Gray with black text Net Change Up Green with black text Non Tradable Burgundy with white text Position Flat White with black text Position Long Light Purple with white text Position Short Red with white text Top of Book Ask Yellow with red text Top of Book Bid Yellow with blue text Spread Matrix Default Colors Outright Price Quantity Direct Ask Direct Bid Implied Ask Implied Bid Combination Ask Combination Bid Direct Ask Direct Bid Implied Ask Implied Bid Combination Ask Combination Bid Net Change Display Mode Ask Text Dark Red Bid Text Dark Blue Down Background X_TRADER User Manual 117 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 118 Spread Matrix Default Colors Unchanged Background Up Background Light Green Missing Spread Series Dark Gray White with black text Position Long Blue with white text Position Short Red with white text Quote Board Default Colors Background Barometer Bottom Barometer LTP Yellow Barometer Top Black text P L Negative Red text P L Positive Green
314. k Trade The Click Trade bar appears above the Spread Matrix E CME 6S 13 m Bef fa AAA Qiy p a Chick o A e a k H ireo lt Default gt v E v Offset _ Y Je 2 Set the order parameters as needed 3 To submit orders e Right click in a Bid Price cell to seed a sell order e Right click in an Ask Price to cell seed a buy order Note If you right click in a Quantity cell the context menu appears and no orders submit You successfully click traded in Spread Matrix Changing a Working Order Spread and Butterfly Condor Matrices To save you time you can now change a working order without having to access your Order Book This is done using one of two methods e Using the Order Change Dialog Box e Using the Floating Order Book Canceling Orders The buttons at the top of the Spread Matrix let you cancel your working orders for the displayed contract s If you have orders for different contracts on separate tabs they will not be canceled If your orders are hidden using the Show Hide Series context menu option they will not be canceled CME GE ogo gn a Cek Cancel ALL Cancel Spreads Cancel Outrights You have three options e Cancel All Cancels all your spread and outright orders for the displayed contract s e Cancel Spreads Cancels all your spread orders for the displayed contract s If you have outright orders for the displayed contract they will not be canceled e Cancel Outrights Cancels a
315. key MD Trader enters a buy order one tick above the current best bid in the market You successfully dimed the bid Join the Bid Using the Keyboard In MD Trader once keyboard trading is enabled you can join the bid using the keyboard Note You can change the hotkeys associated with these commands lt 1 gt To join the bid 1 Enable keyboard trading 2 Press the F4 key MD Trader enters a buy order at the current best bid in the market The quantity sold is based on the amount in the order quantity field or on the preset default order quantity You successfully joined the bid 288 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Join the Offer Using the Keyboard In MD Trader once keyboard trading is enabled you can join the offer using the keyboard Note You can change the hotkeys associated with these commands P To join the offer 1 Enable keyboard trading locally or globally 2 Press the ro key MD Trader enters a sell order at the current best offer in the market The quantity sold is based on the traders current position or on the preset default order quantity You successfully joined the offer Combo Dime the Bid or Offer Using the Keyboard In MD Trader once keyboard trading is enabled you can combo dime the bid and offer Note You can change the hotkeys associated with these commands gt Combo dime the bid or offer 1 Enable keyboard trading 2 Press the
316. keypad Note EBS keypads and instructions are only available through ICAP 1 Install the EBS keypad per its instructions 2 From the Control Panel click the Settings menu and choose Properties 3 Click the Hotkeys tab 416 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges 4 Under Keyboard Layout click EBS Default Read Only 5 Click to select the Enable EBS Keypad checkbox 6 Click OK You successfully configured X_TRADER to trade using an EBS keypad gt To trade using the keyboard 1 5 In the Trading tab on the Properties menu ensure your Floating Order Entry window is set to the Order Bar In the EBS Quote Board window use the arrow keys to navigate to the contract you want to trade Note Alternatively You can type a row and column combination like 32 to jump to the 3rd row and 2nd column Press ctri F2 to Buy or ctr1 F11 to Sell The Order Bar appears EBS B EUR GBP Press Tab to change quantity big figure or PIPs Note Use the up and down arrows to change the quantity and PIPs one number at a time Press Enter to submit the trade You successfully traded with the keyboard X_TRADER User Manual 417 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Keyboard Configuration To use the following keyboard configuration navigate to the Hotkeys tab on the Properties menu and set
317. l Quote action Sends individual quotes The test bid quote quantity The test bid quote price The market bid quote quantity The market bid quote price A checkbox used to activate and deactivate a contract for quoting The market ask quote quantity The market ask quote price The ask quote price The ask quote quantity The implied bid quantity Note If the trader is displaying calls and puts with the same strike price on a single line then there will be two sets of these columns The implied bid price The implied ask quantity The implied ask price The Dealable Regular Bid for a contract on the EBS gateway This indicates the worst price you will fill at if you trade the normal quantity The normal quantity is decided per contract by EBS The best Bid for a contract as reported by EBS Whether you can trade the best Bid Offer is restricted by EBS based on your bi lateral credit agreements The best Ask for a contract as reported by EBS Whether you can trade the best Bid Offer is restricted by EBS based on your bi lateral credit agreements The Dealable Regular Ask for a contract on the EBS gateway This indicates the worst price you will fill at if you trade the normal quantity The normal quantity is decided per contract by EBS The indicative open price for the session Note When the indicative close price appears the IndQty field blanks out The indicative open quantity for the session Options theoretica
318. l 379 Trading Technologies International Inc Proprietary and Confidential Information Chapter 14 Time and Sales Overview 380 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information CHAPTER 15 Wholesale Trading Overview The LIFFE Wholesale system is a reporting mechanism for transactions negotiated outside the wholesale trade markets They must also decide which firm executes the order The executing member submits the order on both the buy and sell side Because the counter member does not submit an order no counter member information exists in the order The counter member does not receive order acknowledgment or fills Once a wholesale order has been submitted it cannot be canceled revised or handed off to a different trader Note Wholesale orders appear in the Audit Trail window and the Total Traded Quantity column in the Market and Fill windows Wholesale orders do not appear in the Order Book window gt To open a Wholesale Trade window Qy BY es 9 he Log onto one of the exchanges that support wholesale trades Open the Market Explorer and select a product Open a Market window for the selected product In the Market window click the row containing the product To access the Market Grid context menu right click in the specified product row Highlight Wholesale and click the type of wholesale window you want to open The wholesale window displays
319. l Expands the position tree to view all branches e Collapse All Contracts the position tree e Copy Places selected data on a clipboard for past ing into another program e g Excel e Formatting Lets you customize fonts and bor ders e Hide Hides the selected row s or column s e Show Hide Columns Lets you select which col umns to show Trading Technologies International Inc Find Control Panel Add Manual Fill Remove Fast Fills From Position PiL Display PIL Based On Open P L Based On Ignore Manual Position Show Fast Fills Auto Expand Expand Collapse Expand All Collapse All Copy Formatting Hide Show Hide Columns X_TRADER User Manual Fill Window Overview Calculating Profit and Loss You can calculate Profit and Loss P L for open positions based on any of the following e Risk e Last price e Bid ask price e Opening price e Closing price e High price e Low price e Settlement price Open P L Based On Formula Open P L can be based on the same prices as P L You can also calculate open P L using one of two formulas e Average Price Open Position multiplied by The price your open P L is based on Average Buy or Sell Price e Match Price Open Position multiplied by The price your open P L is based on Average Buy or Sell Price of the trades comprising your Open Position Note The average price used Buy or Sell depends on whether you are long or sh
320. l pricing model Theo Server data categories The percent volatility A checkbox used to activate and deactivate click trading by contract The status of the contract e g Pre Open Open Clsd The expiration month and year formatted as DDMMMYY Example 31 Dec09 189 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Using the Market Grid Context Menu Right click in the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns The available menu options include e Find Control Panel Displays the Control Panel Find Control Panel e Click Trade Enables Click Trading Refer to Click Click Trade Trading Overview on page 215 Floating Depth e Floating Depth Enables the Floating Depth Window Order Entry e Order Entry Set whether the Order Entry pane is bet attached to the Market Grid or the floating window you Live Only Mode set in the Trading tab ee Spread Matrix e Layouts Select a pre formatted column layout that suits autospreader your trading style You can select more than one of the Autotrader following Create Strategy I Quote Board Market Default layout Displays BidQty BidPre chart AskPrc AskQty LastPrc LastQty Volume and m opy Chng Change isa Range Adds High Low Open Close and Settle Delete market information Links Depth Adds the Market Depth feature to
321. lay and the FFNet column automatically updates X_TRADER User Manual 363 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 Eurex Fast Fills Information P L calculates using only confirmed fills Eurex Fast Fills are not included anymore in net position calculations However we can configure the TT Eurex Gateway to automatically convert Fast Fills into confirmed fills Using the following two columns a Eurex trader can monitor position updates e FFNet Fast Fills Net Quantity column Displays the fast fill net quantity As fast fills are received the FFNet column updates and reflects the new fast fill position e NetQty Net Quantity column Reflects the position based only on confirmed fills The NetQty column updates and reflects the new confirmed position When the Fill window opens the FFNet column synchronizes with NetQty Under normal trading situations the FFNet column updates slightly ahead of the NetQty column because Fast Fills appear before confirmed fills FFNet and NetQty Synchronization When you trade Eurex you can easily identify when NetQty and FFNet are out of synchronization do not match for an extended period The following can result e Errant or erroneous Fast Fills e Changing a working order that gets filled immediately e Ifa Fast Fill has been received clearing all filters results in reinitializing the NetQty and FFNet fields so they are the
322. layed in the various windows used in X TRADER Formatting Fonts Change the font outline and size of the typeface in your windows Formatting Grids Customize the visible columns or rows Frame Command Bar Overview Control printing functions and window sizing options X_TRADER User Manual 45 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Populating Windows with Contracts Follow these procedures to populate windows with contracts e Populating a window from Market Explorer e Populating a window using drag and drop from Market Explorer e Populating a window using drag and drop from the Market Grid gt To populate a window from Market Explorer 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find In the Products section click the down arrow and choose your search filter 4 Type your search criteria in the available space The Instruments field updates as you type 5 From the Instrument Type box click to toggle between the displayed types 6 Press and hold the crri key and click the products you want to open 9 or To open all products in the Instruments field click the gt gt button and skip to step 8 Click the gt button to transfer the products from
323. laying a window e Minimizing or displaying all windows e Listing all windows e Opening or closing the TT Minimizer e Locking your X_TRADER windows gt To minimize or display a window In the TT Minimizer window click a window name to either minimize or display the window on your desktop Screen Names with ae A dark blue background Currently displayed on your desktop A light blue background Currently minimized on your desktop You successfully minimized or displayed a window gt To minimize or display all windows Double click the TT Minimizer tray icon ue 2 V 4 02 PM You successfully minimized or displayed all windows 48 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks gt To list all windows Right click the TT Minimizer and click List All Windows You successfully listed all windows gt To open or close the TT Minimizer Click the TT Minimizer tray icon The TT Minimizer appears or disappears from your desktop When minimized it also appears in your taskbar TT Minimizer You successfully opened or closed the TT Minimizer gt To lock your X_TRADER windows 1 If itis not visible open the TT Minimizer 2 Click the Lock All button or Right click the TT Minimizer and click Lock All Windows Your X_TRADER windows cannot be altered 3 To unlock your screen click the Unlock All button You successfully lo
324. lays the history and detailed infor mation for any item selected in either the Summary or Partial Fill pane The available columns in the Trade Book are nearly identical for each pane For a complete list of columns available in the Trade Book window Order Book window and Fill window see Appendix Grid Column Descriptions on page 437 366 X_TRADER User Manual Trading Technologies International Inc Trade Book Overview Trade Book Context Menu Right click the Trade Book window to access the context menu The available menu options include Find Control Panel Displays the Control Panel Find Control Panel Confirm Fill s Confirms a fill Click a single fill or Confirm Fil s select multiple fills and choose this option The C column displays a hyphen for trades confirmed by you and an equal sign for fills confirmed by another trader Sort Aggregate Detail Fills by Price Partial Fill Pane Sort Defines the sort order by column and up to three Sai levels By default the Trade Book window sorts by last Auto Filters fill time with the most recent fill at the bottom of the pane Clear Filter Clear All Filters Save sort order as part of a workspace Refer to Saving a Workspace on page 70 Copy Aggregate Detail Fills by Price Displays all fills that Export All Rows occur at a single price level on one aggregated line When P Port Selected Rows disabled every partial detail fill displa
325. le on Enables click trading on Fast Fill Net Position X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Click Trading Quantities Description Determines how you view trading quantities when trading on the ICE exchange Contracts Represents entire delivery amount Flow Represents the amount to be delivered in each delivery period Refer to Trading ICE on page 427 Determines whether the outside quantity includes the viewable quantities at the first two tradable prices Aggregate Counts the total number sent by the exchange including the first two levels of depth Net Subtracts the first two levels of depth from the total depth sent by the exchange Refer to Trading EBS on page 415 Implieds Description o Include Implieds in Displays implied price and quantity data as calculated by the Exchange in Market Columns the same columns as direct price and quantity data andin Depth Implied data displays in the Market Grid MD Trader Autospreader and Autotrader Calculate Implieds Displays first level implied prices calculated by X_TRADER When instead of using disabled implied prices display as published by the exchanges Exchange Toplieds This property affects all windows that displays prices Note Some exchanges do not match implied prices they do not publish General Description O Quoting Enables the Quoting option on the Marke
326. lied to your workspace 6 To retain these font style changes save your workspace You successfully changed the typeface characteristics Changing Global Colors of Windows or Text You can change many of the colors used in X_TRADER The two property tabs that house the color options are the Color tab and the MD Color tab Follow these procedures to change the color of a window or text e Use a standard color for a window or text e Create and use a custom color for a window or text gt To use a standard color for a window or text 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Color tab 3 Click the name of the color setting you want to change 4 Click a color from the palette The Preview section displays your chosen color 5 Click Apply and then OK to exit You successfully changed the colors for X_TRADER display windows 54 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks gt To create and use a custom color for a window or text 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Color tab 3 Click the name of the color setting you want to change 4 From the Color section click the Other button The Color dialog box appears 5 Under the Custom Colors section click the first available white box Note This ensures you will not copy a new custom color over an existing custom color 6 Under the Basic
327. list the Send RFQ next best prices Quoting A holesale Ord Implieds Adds Imp BidQty Imp BidPrc Imp cara AskPre and Imp AskQty Rename Price Format Theos Only available if you are using a theo se retical server Formatting Clear All Formatting Indicative Adds IndBidQty IndBidPre Hide IndAskPre IndAskQty Show Hide Rows EPIQ Adds EPIQ Buys and EPIQ Sells for Esti Show Hide Columns mated Position in Queue Refer to Market Grid Pane Field Descriptions on page 187 for column definitions e Live Only Mode Lets you show only contracts that cur rently have an active bid active offer or last price In addition you can Pin Rows which always leaves con tracts shown even if they are not live e MD Trader Opens anMD Trader for every row selected in the Market Grid e Spread Matrix Opens Spread Matrix which simplifies the tasks of monitoring exchange traded calendar 190 X_TRADER User Manual Trading Technologies International Inc Market Window Overview spreads e Autospreader Opens the Autospreader Con figuration window with legs assigned for every row selected in the Market Grid e Autotrader Opens one Autotrader window with rows for every row selected in the Market Grid e Create Strategy Opens the Create Strategy window Refer to Strategies Overview on page 239 section e Quote Board Opens Quote Board with panes for every row selected in the Market Grid
328. ll price of the product Quantity of the product that was bought sold Filters Use filters in the Time and Sales window to quickly sort and display data You can select an OTC filter from the Type Price and Qty columns in the window Refer to Filtering Overview on page 50 372 X_TRADER User Manual Trading Technologies International Inc Time and Sales Overview Populating the Time and Sales Window After you open a Time and Sales window on the desktop you must populate it Follow the procedures below e Populating the Time and Sales window from Market Explorer e Populating the Time and Sales window using drag and drop from Market Explorer e Populating the Time and Sales window using drag and drop from the Market Grid gt To populate the Time and Sales window from Market Explorer 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon 2 If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 3 In the Products section click the down arrow and choose your search filter 4 Type your search criteria in the available space The Instruments field updates as you type 5 From the Instrument Type box click to toggle between the displayed types 6 Press and hold the crrt key and click the products you want to open or To open all products in the Instruments field click the gt gt but
329. ll your outright orders for the displayed contract s If you have spread orders for the displayed contract they will not be canceled 312 X_TRADER User Manual Trading Technologies International Inc Spread Matrix Overview Setting Outright or Spread Prices gt To set the Outright Price or Spread Price 1 Right click to show the context menu Find Control Panel Click Trade Floating Depth MD Trader Chart Show Hide Series a v Best Implied Direct Price Type Display Prices Formatting Undo Formatting 2 Scroll to Price Type and choose Best Implied or Direct You successfully set the outright price or spread price Spread and Butterfly Condor Matrix Properties The Spread Matrix tab on the Properties menu houses most properties for the Spread and Butterfly Condor Matrices However the Trading tab on the Properties has the following properties which affect the matrices e Color Top of Book e Highlight Own Orders e Minimum Highlighting Mode e Butterfly Condor Matrix only highlights when both the quantity and price change e Highlighting depends on whether the last traded price is on the bid or ask e Ifthe last traded price was not on the bid or ask the matrix does not highlight X_TRADER User Manual 313 Trading Technologies International Inc Proprietary and Confidential Information Chapter 9 Spread Matrix Calculations 314 The calculations made f
330. logies documentation and online Help systems that include e Guardian Help e X_RISK 7 3 Help e X_STUDY Feature Guide e X_STUDY Online Help e X_TRADER Autospreader Feature Guide e X TRADER Autotrader Feature Guide e X_TRADER Online Help 26 X_TRADER User Manual Trading Technologies International Inc About This Manual X_TRADER Trading System Trading Technologies X_TRADER Trading System gives you and your customers the best technological edge in the business X_TRADER is the fastest most adaptable front end trading screen for futures trading Combining universal exchange access high performance and full customization X_TRADER with its sophisticated trading tools enhances your presence in all the world s open access electronic markets X_TRADER is designed to meet the demands of institutional brokers and professional traders globally It facilitates easy order entry order routing and position management Its customizable windows allow you to execute and track the complete life cycle of a trade e Flexible market window for easy order entry and depth of market e Extensive order book displaying working orders and editing functions e Real time position management window including fill details and real time P amp L e Comprehensive audit trail detailing transactions over a ten day period X TRADER enables you to execute trades fast Speed combined with flexibility gives X TRADER users a distinct advantage in today s fie
331. luding the password is retained Memorize or keep a record of your login data This data is not retained after a software upgrade Follow these procedures to log into an exchange e Logging into an exchange when starting X_TRADER e Logging into an exchange during a session e Logging into X_TRADER with a different trader ID X_TRADER User Manual Trading Technologies International Inc Getting Started gt To log into X_TRADER l On your Windows desktop double click the Ed icon The TT Exchange Login dialog box appears r I Exchange Login Trader SIMULATION Exchange List CME A eCBOT eCBOT 4 Eurex Eurex Eurex C Eurex S Eurex S C ICE_IPE A ICE_IPE B LIFFE LIFFE A TTSIM 2 Selectthe appropriate exchange tab or double click the name from the Exchange List 3 Enter the login data provided by your X_TRADER Administrator 4 Click the Login button CMEA eCBOT eCBOTA E Member Id D12345 Group ld TEST Trader Id 000 Password j CLR Member Delauk Account Pref Server 123 4 123 45 After your password is authenticated a checkmark appears in the box to the left of the exchange name 5 Repeat Steps 2 4 for each exchange marketplace on which you want to trade Note The Change Password option is not functional at this time 6 Click Close After a short delay while your workstation establishes a connection to the server and loads any undel
332. ly 10 contracts ahead of your order e If 3 contracts trade your EPIQ changes to 7 e If your EPIQ is 0 your order should be the next to fill Note EPIQ is not sent from the exchanges X TRADER calculates an estimated EPIQ based on quantity of trades occurring in front of the order and does not account for canceled orders or pro rata allocations Market Grid In the Market Grid the EPIQ columns are hidden by default When shown EPIQ Buys appears next to BidQty and EPIQ Sells appears next to AskQty 50 or 134350 28 F T 7 T 134600 17 gt To display the EPIQ columns 1 Right click the Market Grid Note If Click Trading is enabled do not click in the Bid Ask price columns Find Control Panel Quoting Best Price Highlight Click Trade On v Order Entry Floating Order Entry 7 Market 2 From the context menu click Show Hide columns and select them 0r Hover over Layouts and click EPIQ Formatting Range Depth You successfully displayed the EPIQ columns ee Implieds in the Market Grid Hide Row s u I Indicative Show Hide Rows X_TRADER User Manual 203 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Viewing Live Only Contracts The Live Only Mode option on the Market Grid context menu lets you show only contracts that currently have an active bid active offer or last price In addition you can Pin Rows wh
333. m the Control Panel click the Settings menu and choose Properties 2 Click the Sounds tab The top list box displays the event and its associated sound By default no audio files lt None gt are associated with the events 3 Under the Events column double click the event to which you want to assign a sound The Associated Sounds column is editable 4 Click the Ld icon to locate the sound file you want to use as your alert 5 If necessary navigate to the location where the sound files are located In most X_TRADER instal lations this is in the following folder lt root drive gt tt x_trader Sounds 6 When you have located the file highlight it and click Open The new sound name and path displays next to the selected event 7 To test the sound click Test 8 Click Apply and then OK to exit You successfully added an event sound Changing or Removing an Event Sound gt To change or remove a sound from an event 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Sounds tab 3 Under the Events column double click the event from which you want to remove a sound The Associated Sounds column is editable 4 Press the Delete key 5 Click Apply The event sound is removed from the event 6 Click OK to exit You successfully changed or removed a sound from an event X_TRADER User Manual 115 Trading Technologies International Inc Proprietary and Confidential Information Chap
334. n Therefore the second window only receives the changed parameters This information also applies to a trader who is logged onto more than one workstation gt To activate or deactivate multiple Strikes or Expirations 1 Right click anywhere in one of the Quote columns BQQ BQP Quote AQQ or AQP to access the context menu 2 Click Select to choose which strikes expirations to activate deactivate These are your selections e All All strikes expirations are selected e Calls Only calls are selected e Puts Only puts are selected e 2 Sided Mkts Only 2 sided markets are selected e Last Pre Only strikes expirations with a last price are selected 3 From the context menu click Activate or Deactivate 4 Click outside the context menu to exit You successfully activated or deactivated multiple Strikes or Expirations Deleting Mass or Individual Quotes Follow these procedures to delete quotes e Deleting all quotes in the market e Deleting a single quote gt To delete all quotes in the market Click Delete to delete all quotes from the market You successfully deleted all quotes from the market gt To delete a single quote Uncheck the Quote column box of the strike expiration This deactivates the strike expiration and deletes the quote You successfully deleted a single quote Click to select the Quote column box to re activate the strike expiration X_TRADER User Manual 235 Trading Technologies Int
335. n exchange Only alert on own Ignores all fills except your own fills Note If you place an order using an account mapped to a TTORD ID you are not logged in under you will not receive the fill alert Display strategy Displays the first and second leg along with the spread in the Fill pane and positions the Position pane of the Fill window When disabled only the spread is shown Save manual fills Saves all manual fills to your hard drive Enabled by default When enabled you are prompted to log into all exchanges where you have manual fills If disabled you lose your manual fills when you log out Fills Pane Col Description umns Fills Pane Columns Lets you select the default visible columns for the Fills pane in the Fill window Position Pane Description Columns Position Pane Lets you select the default visible columns for the Position pane in the Fill Columns window X_TRADER User Manual 107 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Trade Book Col Description s ii Trade Lets you select the default visible columns for the Trade Book window BookColumns Automatic Data Description Export Automatically Exports fill data to the folder of choice when you shutdown export data upon shutdown e Your Fill window must be open when you shutdown for this to work e A file is created matching each open Fill window and their filters
336. n occur while waiting for a guaranteed fill The fast fill net quantity displays in the FF Net column of the Position pane Manual Fills If you execute trades outside of X_TRADER you can manage those trade using the Add Manual Fill dialog box Adding trades in this manner lets X_TRADER calculate your true position and P L profit loss Refer to Managing Manual Fills on page 359 for more information Filters 348 You can use filters in the Fill Window to quickly sort and display data However if you use filters you are not able to receive Fast Fills from supporting exchanges X_TRADER reminds you fast fills are disabled with a message in the Fast Fills pane Tip Remove filters to return hidden fill records to the Fill window Refer to Filtering Overview on page 50 for more information X_TRADER User Manual Trading Technologies International Inc Fill Window Overview Fills Alert Dialog Box When enabled the Fills Alert dialog box displays on the desktop as a fill arrives from an exchange FILLS ALERT I i ES Contract Order No B ES TT Sep03 109075 1301860 gt To enable the Fills Alert dialog box 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Fill tab 3 Click to select the Fills Alert checkbox 4 If you want to only be alerted on your own fills click to select the Only Alert on Own Fills box Note Using this feature you do not have to enter a Trader ID
337. nced Tab on page 138 Note When you enable both Price Consolidation on the MD Display tab and the Enable User Defined Price Column on the MD Advanced tab the prices consolidate first The consolidated price is then used to perform any calculations X_TRADER User Manual 263 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Invalid Calculations in the UDP Because the Display Yield To Maturity setting is based on an algorithm N A values can appear in the User Defined Price column This occurs when you set inaccurate values in the property s parameters for a given contract MD Advanced Z Enable Use Delined Puce Cohmr O Net Cheng Display Price As Yield Display Yield To Metunty Coupon rate Matuity date Corrarsion factor Settemertdate 5 31 2008 Actual Actual w Monthy v Sannn Dey court ypa Coupon frequency F End of month convertion _ Optional settings Z Pace formatting Decimal location Digits to display CJ Hide hande Retain settings nhan contact is Changed Example proe conversion Price 156490 Convert gt Converted price Fig 1 MD Advanced tab 264 Trading Technologies International Inc CME A 6A JUNOS aE Hi s8 88 1 26 4 37 n 3 2 8 5 A 6 a 2 n 78 Fig 2 New User Defined Price Column X_TRADER User Manual MD Trader Overview Displaying a Small MD Trader
338. nd Sales Window Use the drag and drop method to display market activ ity e Saving Time and Sales Information Save data to a file you can open and customize in Microsoft Excel Notes e Time and Sales does not track the inside market e Time and Sales uses the price feed to show and record sales information Because some mar kets do not include every trade in their real time price feeds this information can be incom plete For additional information please refer to exchange specific documentation e You can drag and drop a spread product into the Time and Sales window to display and time stamp their market activity However only the generic spread names based on the products and expirations appear Customized names of spreads do not appear gt To open Time and Sales From the Control Panel click the Window menu and choose Time and Sales or From the Control Panel click the Icon You successfully logged into Time and Sales X_TRADER User Manual 371 Trading Technologies International Inc Proprietary and Confidential Information Chapter 14 Column Descriptions The Time and Sales window has the following column names Column Head Description ing Time the event took place drawn from the workstation not the exchange Exchange Name of the exchange where the event occurred Product Name of the product as drawn from the Market Grid Contract Name of the contract as drawn from the Market Grid Buy Se
339. ndow Order Book Trade Book Fill Window Order Book Trade Book Fills Pane Order Book Trade Book Fills Pane Order Book Trade Book Fills Pane Order Book Trade Book Fills Pane Order Book Order Book Trade Book Fills Pane Position Pane Order Book Trade Book Fills Pane X_TRADER User Manual Trading Technologies International Inc Appendix Grid Column Descriptions Column Deseripon Wm Fill Type The type of trade made either from an outright fill or a spread order Use this Fills Pane column to filter on your spread positions and view spread legs separately from the outright trades If the outright fill is coming from a spread fill the cell displays Spread Fill Leg If not the cell corresponds to the Type column Fill Trans The ratio of fills to transactions on a per contract and product basis Position Pane Filled Qty The quantity filled in the order Trade Book The number of fill lines on a contract and product basis Position Pane The member for whom a separate party completes a transaction Used for give Trade Book up trade accounts Fills Pane The high price for the day Position Pane IP Address The IP Address of the workstation the order was placed on Order Book The last traded price Position Pane Link ID A unique number indicating two orders are linked Order Book Link Type The kind of link identifying the relationship between orders Order Book Example OCO The total
340. ne a Customer Defaults profile 1 From the Control Panel click the Settings menu and choose Customer Defaults 2 Enter the customer profile information in the Customer Defaults window Note The first profile has a customer name of lt Default gt which you cannot change 1 3 Change data as needed and press TaB or ENTER to save your changes Note If you enter your change without using the tab key to advance to the next field or if you do not press ENTER your changes will not be saved 4 Click to select the SEL box to add the name to the Customer List dialog box throughout X TRADER 5 Close the Customer Defaults window The new customer name will be added to the Customer List dialog box You successfully defined a Customer Defaults profile X_TRADER User Manual 39 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 Using Workspaces Your X_TRADER workspace holds a snapshot of your desktop It records all your open and minimized windows their spatial relationships color font column row sizing placement selection and saves them so that each time you launch X_TRADER it looks the same way You can create one or more workspaces to fully customize X_TRADER to fit your trading style and environmental requirements For example you may have morning and afternoon workspaces to reflect the opening and closing of different exchanges You may also have a report printi
341. ne gt Server Up None gt Server Down lt None gt Startup None gt Shutdown None gt Hedge Manager lt None gt C Own Fill Only Genera Deco _ Events List the actions for which you can assign a sound Buy Sell Plays when you place a Buy or Sell order Full Fill Buy Sell Plays when your Buy or Sell order fully fills Partial Fill Buy Sell Plays when your Buy or Sell order partially fills FFill Plays when you get a fast fill Tradable RFQ Plays when your request for quote receives a trad able price Indicative RFQ Plays when your request for quote receives an indicative price Reject Plays when your order is rejected Error Plays when X_TRADER receives an error LClick RClick Plays when you left or right click Alert Warning Plays when you get a system alert or warning Exch Announce Plays when the Audit Trail receives an exchange announcement Server Up Down Plays when the Fill or Order server comes up or goes down Startup Plays when you start X_ TRADER Shutdown Plays when you close X_TRADER Hedge Manager Plays when the Autospreader Hedge Manager detects a legged order X_TRADER User Manual 113 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 General Description Associated Sounds List the sound files and their source directory Checkbox Own Fill Only Indicates the sound will only play when the order filled is yo
342. ne gt v Osen v a v lt Defout gt v g 001091 EBE C Confirm 134575 2 Grid1 Gid2 Grid3 lt Follow these procedures to use tabs on the Market Grid or Spread Matrix windows e Adding a tab e Populating a tab e Rearranging a tab e Renaming a tab e Color coding a tab e Navigating between tabs gt To add a tab 1 Right click the tab after which you want to add a new tab 2 Click Insert A new tab appears You successfully added a tab gt To populate a tab 1 Navigate to a populated Market Grid or Market Explorer to find the instruments you want to place in the new tab 2 Click to select the instrument s you want to move to the new tab Note Hold the craz key and continue clicking to select multiple instruments X_TRADER User Manual 193 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 3 With the cursor over one of the selected instruments click and hold the mouse button 4 Continue holding the mouse button and drag the cursor off the window to the new tab When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters the new tab it changes to include a plus sign 5 When the cursor enters the new tab release the mouse button You successfully populated a tab gt To rearrange a tab 1 Click and hold the tab you want to move 2 Move your mouse where you want to pl
343. ned Use this but ton to pull all live quotes If any unusual occurrence causes your workstation or X_TRADER to unexpectedly shutdown immediately after restarting click Delete Test Quotes Generates test quotes wherever possible Pull All Quotes Pulls all live quotes from the market Moves the bid offer up or down by one tick Sends test quotes to the market X_TRADER User Manual 229 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Field Description Sends market quotes to the market If the quoting bar is in Test mode the default the additional columns are SRE ioes Faas Tu Rika PECOS l Maros Field Description o Sends a quote for a single strike expiration If the strike expiration is activated a confirmation dialog box appears and you can edit the quote information or accept the generated quote Click Add to send the quote Delete to delete the quote or Cancel to cancel the action Bid Quote Quantity test quote Bid Quote Price test quote Pulls all live quotes from the market Indicates the active checked or inactive unchecked status of the strike expiration Check this box to send a quote to market An unchecked box denotes an inactive strike expiration and no quote is sent Deselecting this box deletes a quote from the market if one exists To select and activate deactivate strikes expirations right click anywhere in
344. nformation Appendix Grid Column Descriptions Column Descrip Wndw Product Product Type Row Numbers RstrQty SellQty Source Submit Date Submit Time Time Procsd 440 The Limit price in the Order Book The price at which the quantity fills in the Fill Window For spreads displays the fill prices on the corresponding legs of the spread followed by the actual fill for the spread Spread positions and leg positions display in the Position pane in the Fill Window The spread positions appear for information purposes only and do not affect risk calculations Risk is calculated using legs You can enable or disable spread fills in the Fill tab on the Properties menu The property is disabled by default The traded product s exchange symbol Example FGBL ODAX The type of product in the order Example Future Future Spread Option The order quantity in the Order Book The quantity filled in the Fill Window Far left column displays row numbers The strategic restriction put on the order Example lt None gt FOK IOC The quantity of a restricted order which behaves differently depending on the restriction Example For Minimum Volume orders it is the quantity that needs to be in the market for the order to go to market The Sell totals The total Sell quantity Where the order comes from Examples 0 Normal OS 1 Autospreader 2 Autotrader 3 API XTAPD 4 Ext S
345. ng TTUS U 225 305 305 48 86 42 86 Unrestricted Keyboard Functions in MD Trader 281 User Defined Price column Using click trading in market grid excel for theoretical and implied pricing excel links in md trader floating depth window floating order book floating order entry multiple frame command bar laser line in md trader market depth mouse to control zoom order bar order change dialog box screen minimizer tabbed market grid tradesounds Using MD Trader average price of open position centering the market changing the order quantity changing working orders customer profile deleting orders local md trader properties net change indicator setting the default quantity setting the maximum trade quantity setting the time in force setting the trade quantity text and grid colors V Viewing audit trail history EBS contracts with depth live only contracts X_TRADER User Manual 138 263 216 200 276 205 343 176 179 61 277 198 278 143 207 224 48 193 129 253 253 253 254 255 256 285 260 256 183 257 270 258 257 259 156 419 424 204 market depth profit and loss time and sales your estimated position in queue Vola Volatility Order accept inquiry Volatility orders Wholesale Trading against actuals asset allocations audit trail messages basis block euronext and guaranteed crossing exchange for swaps flex options prof trades strategy tra
346. ng workspace in order to avoid reformatting your windows to display needed data Refer to Workspace Setup on page 68 for a further discussion of this feature Entering a Market Order You can enter orders in the Market window and MD Trader by using a mouse or a keyboard Refer to Market Window Overview and MD Trader Overview for complete descriptions of their functionality New Electronic Traders TT recommends new electronic traders use the Lock safety feature until accustomed to using X_TRADER Every Order Entry pane and Order Book window has a Lock check box When enabled this feature requires you to confirm your actions before sending an order to market For example if you click the Sell button the button title changes to Apply Sell You must then click the Apply Sell button to confirm your sell order and send it to market gt To enter a manual order 1 Click the BidPre or AskPre cell to feed the Price field on the Order Entry pane 2 Click the BidQty or AskQty cells to feed both Quantity and Price fields on the Order Entry pane 6x 126410 6E SEPO GTD Linh None Lio ima cher x lpn S AY S IM car F 3 oleg l l Bo Tez 3 Add or change the quantity price and order type information as necessary 4 Click Buy or Click Sell If you have entered valid data the order is sent to market The Audit Trail window displays a message with a status of OK and an Action of Add You successfully entered a man
347. ng Technologies International Inc X_TRADER HERR fafa nan a ae Taa RA 7 i Calendar 1xGE MAROS 1xJ ps001003 Calendar 1x66 MAROS 1xD Hello Calender 1x68 MAROS 1xD Hello Fill Window Japanese val S 00 Bee Lek WIA B S SERA Fae jp RAJ eS SIE TERET DELUNA Leia lt TJ E E E E E L 1 5 L H9 JO bE aod W001 3 J3 04 09 J O 05 ws M92 TTSIM 1000 6E Decot 123 103005 754 1000192 03 04 09 103005612 193 TTSIM 1 1000 6E Decos 123 1033005879 1000193 03 04 09 103005752 TTSIM 1 1000 6E Dect 123 10 30 06 095 1000194 03 04 09 109006 924 T 1 Decos 123 103006160 03 04 09 103006049 PB 17 BS TSIM B Sep0s TestFil 10429041 j 104239041 TISIM s Sept TestFil 10 42 45 822 f 104245822 zoo msm 6 su 123 13 0032 196 130032170 Y SS SY SS SAE RST wass 5 b 564900 J TRE 04 000 DOOF 04120 0861 COASCO 6 04 09 04 0000 l i ia ip i unas usu KS 4EUSIE MS SLC aA BESS a 1000 6E 1050046 1028147695 TTM 1000 6E abe Ts 103006160 TOUT Dm 10 28 17 695 1000 GE Decos 123 103006035 1000071 030409 10 28 17 695 1000 6E Dect 123 1033005 879 1000071 020409 10 28 17 695 1005 6E Dect 123 1O3006 764 1600071 036409 1062837695 1000 6E Decos 123 103005629 1000071 030409 102817695 y n er x SPA 4 Ann a Aih mnr 4 nA Aa rx AARAA a Trade Book Japanese X_TRADER User Manual 21 Trading Technologies International Inc Proprietary and Confidential Information What s New in 7 7
348. ng and access to the plug in e Ifthe text is red you do not have the proper licensing or access to the plug in 2 Click the plug in name you want to start The plug in starts 3 Repeat step 2 to start another plug in or another instance of the same plug in You successfully started plug ins from X TRADER 152 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview gt To set plug ins to start automatically 1 From the Control Panel click the Window menu and choose Plug ins Or From the Control Panel click the icon The Plug ins dialog box appears displaying all your installed X_TRADER plug ins Plug Ins Manual Launch ACDC Alert Manager EFRT EFRT v2 File Distributor Fill Exporter Fill Recapper Fill Recorder Fill Ticker Server Navigator OCO Trader Sp Spread Driver Launch on Startup _ Note e Ifthe text is green you have the proper licensing and access to the plug in e Ifthe text is red you do not have the proper licensing or access to the plug in 2 Click to select the checkbox next to each of the plug in icons you want to start automatically 3 Click OK The next time you start X_ TRADER the selected plug ins automatically start You successfully set plug ins to start automatically from X TRADER X_TRADER User Manual 153 Trading Technologies International Inc Proprietary an
349. nge 8 TT TRADER Time Proc The time the action was processed by the Gateway essed Designates whether the order was filled passively or aggressively This notation allows for a correct P amp L calculation Order No The order number assigned by the Exchange TT Order Key A TT generated unique number used to track orders in the Order Book The IP Address of the workstation FFT2 amp FFT3 Free Form Text Field 2 and 3 Values for annotation purposes by you or back office sub account Trans ID The transaction ID for fills Used to identify the order Session ID Used for diagnosing Fill session rollovers SOD s and settlements Audit Trail Context Menu Right click in the Audit Trail window to access the context menu The available menu options include e Find Control Panel Displays the Control Panel Find Control Panel e Scrolling Sets the window to scroll as a new entry appears Ena y scrolling bled by default Auto Filters e Auto Filters Lets you display audit trail data by customer Clear All Filters e Clear All Filters Displays all available data by removing filters Export All Rows e Export All Rows Collects all the data in a file whose name type Formatting and location you configure Hide e Formatting Lets you customize fonts and borders Show Hide Columns e Hide Hides the selected row s or column s e Show Hide Columns Lets you select which columns to show 158 X_TRADER U
350. ning market price Market To Limit MTL Sends a Market order with the condition that on a partial fill the remaining quantity rests as a Limit order at the price that was just hit or taken Available on TOCOM and SGX X_TRADER User Manual Trading Technologies International Inc Order Types e Minimum Volume MV Sets the minimum order quantity that must be available in the mar ket or the entire order cancels e Order Cancels Order OCO Sets two orders of the same quantity for the same contract at different price levels When one order executes the other order cancels Note OCO s are only available in MD Trader and the Order Book e Stop Sets the Stop Price for both Market and Limit orders X_TRADER supports both Stop Limit and Stop Market orders on all exchanges e Trailing Stop TStop Sets the Stop Price a fixed distance from the current market price and moves dynamically e Volatility Volatility orders are separately agreed to by both parties and approved by Eurex e Equity orders Indicates an exemption from short sell notifications for some trading types They are not supported by all markets Best Limit Best Limit BL orders are similar to Market orders in that you enter them without a price But while Market orders aim to hit the bid or take the offer a BL order lets you join the best bid or offer BL order types are only available on TOCOM Example Given the following market e Ifa 10 lot
351. not want to view in the Audit Trail 5 Click OK You successfully customized the visible columns in Audit Trail X_TRADER User Manual 161 Trading Technologies International Inc Proprietary and Confidential Information Chapter 4 Storing Files The Audit Trail log file generates at midnight or the first time you open X_TRADER for the day The file holds a finite amount of data before generating a new one The size of these database files are configurable from 10MB 200MB with a default of SOMB of data e Access the Audit Trail log files here lt root drive gt tt logfiles AuditLog e The naming convention for the Audit Trail log files is YYYY MM DD_n mdb Where n rep resents the file number for the day Example A light trading day in October followed by a heavy trading day might result in the following Audit Trail files e AuditLog 2009 10 23 1 mdb e AuditLog 2009 10 23 2 mdb e AuditLog 2009 10 23 3 mdb e AuditLog 2009 10 22 1 mdb With a maximum database file of 50MB you can see at a glance your Audit Logs for October 23 exceed 100MB Whereas your Audit Log for October 22 was under 50MB Concise Audit Trail 162 Parsing the Audit Trail into smaller log files helps X_TRADER run efficiently In addition when you open your Audit Trail only the data captured in the current Audit Trail log file displays This means if you close the Audit Trail in the morning and reopen it later in the day the Audit T
352. ns Last Traded Quantity column Working order bid or ask columns Delete Bids or Delete Offers quantity buttons Delete 0 Numerical quantity buttons 252 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Using MD Trader Follow these procedures to use MD Trader Recognizing the Average Price of Open Position Centering the Market Changing order quantity Changing working orders Deleting trades from the market Reading the net change indicator Selecting a customer profile Setting the default quantity Setting the trade quantity Setting Time In Force Reading the text and grid colors Recognizing Average Price of Open Position The average price of your open position is the average price of all your fills at different price levels You can use this price point to gauge whether trading out of your position will provide you with a realized gain loss or scratch The value of the open position begins at the current open position for the product If no open position exists then the average price equals zero The price of the open position calculates on the First In First Out FIFO method used for filled orders The first fills received are the first fills discarded when determining the average price Note When calculating average price MD Trader rounds longs up and shorts down Centering the Market Note You can change the hotkeys associated with this command gt
353. ntended for execution at the opening market price This order type is not available through MD Trader Because the order is intended to execute at opening market prices e MOO orders must be Market orders and cannot be Limit orders e You can only specify a quantity not a price gt To place a Market On Open order 1 From the Market Grid click the contract you wish to trade 2 Inthe Order Type field click to select MOO The Price field becomes unavailable 3 Specify the quantity 4 Click Buy or Sell You successfully placed a Market On Open order X_TRADER User Manual 297 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 Market On Close MOC A Market On Close order sends Market orders during the closing auction of the current business day Orders can be entered at any time during the trading day Because the order is intended to execute at the closing for the day e MOC orders must be Market orders and cannot be Limit orders e Youcan only specify a quantity not a price gt To place a Market On Close order 1 From the Market Grid click the contract you wish to trade 2 Inthe Order Type field click to select MOC The Price field becomes unavailable 3 Specify the quantity 4 Click Buy or Sell You successfully placed a Market On Close order 298 X_TRADER User Manual Trading Technologies International Inc Order Types Market to Limit Market
354. ntended to be market based When a contract is seeded in the Market Grid the customer whose name matches the market of the seeded contract is returned Here is an example of a market based Customer Defaults file customer Maret Product Product Type 1 lt Default gt Non market based Customer Default files can also take advantage of the read only feature Though a name automatically appears in the Customer Selection field you can change the customer selection using the drop down just as you would change a Customer Default file you can write to gt To set the Customer Defaults file to read only 1 2 a oy S sS From your desktop right click My Computer and click Explore In Windows Explorer navigate to lt root drive gt tt datfiles TTCONFIG Note This location is configurable in the Order Entry tab on the Properties menu Click the ttconfig folder to list its contents in the right side pane Right click the Customer Defaults file and click Properties In the Attributes box click to select Read only Click Apply To close the Properties dialog box click OK You successfully set the Customer Defaults file to read only X_TRADER User Manual 91 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Sharing your Customer Defaults Profile Using the Order Entry tab on the Properties menu you can customize the name and location of your Customer Defaults
355. ntial Information CHAPTER 9 Spread Matrix Overview The Spread Matrix window lets you view market data and enter orders for outright contracts and exchange traded calendar spreads Ideally the Spread Matrix view helps lower your risk when trading spreads L a aa GE GE Fy Embori wn lt Notes e You can have up to twenty tabs in one Spread Matrix window Refer to Using Tabbed Windows on page 193 e You can trade using the Floating Depth popup window Refer to Floating Depth Window on page 205 Follow these procedures to use the Spread Matrix e Generating a Spread Matrix e Reading the Spread Matrix e Customizing the Spread Matrix e Trading with the Spread Matrix e Changing a Working Order in the Spread Matrix e Canceling Orders e Setting Outright or Spread Prices e Viewing the Butterfly Condor Matrix X_TRADER User Manual 307 Trading Technologies International Inc Proprietary and Confidential Information Chapter 9 Generating a Spread Matrix Follow these procedures to generate a Spread Matrix If you select multiple products when you generate a Spread Matrix the Spread Matrix window generates a tab for each product e Generating a Spread Matrix from the Control Panel e Generating a Spread Matrix from Market Explorer e Generating a Spread Matrix using the Market Grid context menu gt To generate a Spread Matrix from the Control Panel 1 3 From the Control Panel click th
356. ntract you are trading Command Shows the available commands for the selected component Current Hotkey Current Hotkey Shows the hotkeys currently tied to the selected command for the selected component Press new short Description cut key ay new shortcut Lets you input a new key or keys to represent the selected command for the selected component Buttons Default Colors Colors Deletes the current hotkey from the selected command for the selected com ponent You are prompted to confirm Reset All Returns the hotkeys to their default settings for each command Ties the hotkey or keys you input in the Press new shortcut key field to the selected command for the selected component Grayed out when Keyboard Layout is set to default Hotkey Restrictions When assigning hotkeys the following restrictions apply e Global hotkeys and hotkeys that launch components must be unique across X TRADER e Hotkeys must be unique within their own component e The global Delete All Orders hotkey must include shift plus another key e You cannot assign hotkeys to hard coded keystroke commands e g in the Market window Page Up Insert 144 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Properties Autospreader Tab The Autospreader tab sets properties for Autospreader orders and the Hedge Manager window Autospresder Autospeesder C Display Held H
357. nts all available options The fields in the Customer Defaults dialog box are defined as follows Field Description _ Customer Sets the name of the profile Gateway Appears when you are in Multi Broker mode this column lets you specify the TT gateway and flavor e g CME A or an asterisk meaning apply the customer default information to all available gateways for that market Adds the customer to the Customer List window so you can trade for them Market Lists available markets or an asterisk meaning apply the account and account type to all markets you are logged into Product Lets you type a specific product or an asterisk meaning apply the account and account type to all products in the exchange Product Type Lists product types including Future Spread Option Strategy Stock Bond Swap Warrant or an asterisk meaning all product types Account Indicates the customer account code This field can be used by the middle or back office as a sub account The account number associates the trade with a specific customer This field might be required by the exchange e g CME requires it X_TRADER uses the data specified in this column if no other risk management parameters exist If you are set up with risk management parameters X TRADER uses the risk management account number and the relevant information from the Customer Default profile X_TRADER User Manual 87 Trading Technologies Int
358. nual Fill Window Overview Start of Day Fills X_TRADER notifies you if you carry over a position from the previous session This option must be enabled by your Risk Manager If you carry over a position the Fill window displays an S in the Open Close column of the Fills pane TT_Fill 1 Time 09 26 01 73 CME A 09 26 01 73 CME A 09 26 01 73 CME 4 amp 09 26 01 73 eCBOT 09 26 01 73 eCBOT 09 26 01 73 eCBOT 09 26 01 73 eCBOT 09 26 01 73 eCBOT 09 26 01 73 eCBOT Naena 72 aANT oj w s B B B B s B s B lt The Fills pane may display an S to identify a carry over position for each contract If you have any questions contact your Risk Manager X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information 20 O O O O00 0 4 Product 10055 ZN 10055 ZN 10055 ZN 10055 ZN 10055 ZN ANNES Fw DECOS NOVOS JUNOG JUN06 JUNOE JUNOE JUNOE JUNOE JUNO6 ILINAR Account tp001001 tp001001 tp001001 tp001001 tp001001 tp001001 HANA NANA Bes Cox Contract 353 Chapter 12 Position Pane Overview The Position pane is the middle pane of the Fill window and displays all contracts for which you have a position Product Contra BuyOty SellOty NetFos Pl Last AvgBuy AvgSell Open Pit Lirens Fills Trans Fil P 19711 43265 Se 5 6 s 65 oz 12953 SE 15 55 027 3 00 J x J One summation line
359. o the spacer row 4 Click OK You successfully added text to a spacer row X_TRADER User Manual 195 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Highlighting in the Market Grid Highlighting is an available feature in the Market Grid and Spread Matrix windows You can e Highlight your own orders e Use best price highlighting Highlighting Your Orders Highlight your orders by enabling specific properties in the Trading tab on the Properties menu av Highlight Own Orders Lightens the background color behind your working orders Use Top of Book Coloring Highlights the background color when your order is the best bid or offer Use Minimum Highlighting Highlights the cell border of the Bid or Ask when the LTP Mode updates Does not highlight when only the quantity changes Best Price Highlighting Highlight the best Bid Ask Quantity and best Bid Ask Price columns As the market changes and the bid or ask prices change the highlighting moves to the row with the new best price It is possible for more than one exchange to display the best price at any one time In this case more than one best price is highlighted Do not assume any one market is showing as both the best bid and ask assuming you trade more than one exchange Note You can change the colors used with this feature in the Color tab on the Properties menu gt To enable Best Price Highlig
360. ocked up by a competing Passive order you can set the Auto aggressive property When enabled a Passive order automatically becomes Aggressive whenever a Passive order competes at the same price on the opposite side of the market Follow these procedures to set Passive orders to Auto Aggress e Setting Passive orders to Auto Aggress e Verifying fills X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges i Sr a s il gt To set Passive orders to Auto Aggress 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Order Entry tab 3 Click to select the Auto Aggressive property C Broker mode a7 aggressive end quote order C Use default qty _ Persist edits to account number 4 Click OK You successfully set Passive orders to Auto Aggress gt To verify your fills In the Fill Trade Book or Audit Trail windows verify the P A column is visible When your order is filled the P A column indicates how it was filled P A col Order was filled umn dis plays Passive Aggressive Passive order that Auto Aggressed and filled You successfully verified your fills X_TRADER User Manual 411 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 412 Working Up Orders BrokerTec uses a matching algorithm known as workup In a workup market you or another trader ini
361. olesale trade window 381 workspaces 71 Account number adding 434 Activating a Strike or Expiration 234 multiple 235 Adding account number 434 contracts to windows 46 event sounds 115 high and low sound alerts 150 manual fills 361 price averages and accumulations to the market grid 199 product groups 77 spacer rows to market grid 195 spread tables 83 tabs to market grid or spread matrix 193 workspaces 69 Admin Alert Messages 101 Against Actuals Trade 389 field descriptions 390 submitting 391 Aggregate vs Net 424 Aggressive orders 410 Alerts Manager 150 Altering Orders in the Order Book 333 Amending strategies 244 Asset allocations 402 Associating a product to a product group 80 X_TRADER User Manual 443 Trading Technologies International Inc Proprietary and Confidential Information Index Audit Trail Changing Audit Trail column descriptions context menu customize columns exchange announcements held orders history message types order messages properties quote audit trail storing files wholesale trading messages Audit Trail tab AuditLog Auto Centering Automatic Shutdown status of quotes Autospreader properties Autospreader tab Autotrader formulas tick for brokertec generating an rtd formula tick formula for brokertec Average Price Average Price Highlighting Average Price of Open Position B Basis Trade field descriptions submitting Begin Trading Best Limit Order Best Price Highlighting Big fi
362. ologies International Inc Proprietary and Confidential Information Chapter 16 Contracts vs Flow Examples The following screens display products with multiple delivery periods first as Contracts and then as Flow 1 ICE_IPE B Henry Nat Gas 9 alamo TER Aa 5x0 000 Henry Nat Gas Mar06 GTD Limit lt None 0 000 Gio i Limit lt None gt Open vial v lt Detfault gt v ur SSS sn La Las sme m s 8 612 8 722 Apra6 Oct06 Quantities as Contracts ICE _IPE B Henry Nat Gas 9 I I CB 25k 29 2 dm dm 12500x0 000 Henry Nat Gas Mar06 GTD Limit lt 250x 1250K 42500 0 000 Grp Lma lt None gt v Open v a v Cer W WW lt Defaub v 25000 27500 8 612 8722 27500 25000 40000 Apr06 Oct06 aS a gt Quantities as Flow Note When quantities display in Flow for products with multiple delivery periods the letter K displays in the Quantity buttons to represent 1000 Order Type and Restrictions You can submit orders to the ICE exchange using the following order types e Market ICE Futures only e Limit both ICE and ICE Futures e Iceberg e Fill or Kill FOK e Immediate or Cancel IOC You can also set the Good til Day GTD Time in Force restriction 430 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Trading States Trading states for ICE Futures products include e Pre open
363. om hold S Example Agent Market Maker Principal Give up Unallocated The ask price Position Pane The average Buy price Position Pane AvgPrice The average price of the fill Trade Book AvgSell The average Sell price Position Pane Buy or Sell in reference to an order Order Book Trade Book Fills Pane The bid price Position Pane The Buy totals Position Pane The total Buy quantity Position Pane Indicates confirmation of a fill by an operator Trade Book Fills Pane Call or Put in reference to the order This designates your right to buy call or Order Book sell put a contract at a specified price and up to a specified date Trade Book Fills Pane The closing price Position Pane Clearing member Designates a member firm of a clearing house through Order Book which trades settle Trade Book Fills Pane Cntr Party Your counter party on the trade Trade Book Fills Pane X_TRADER User Manual 437 Trading Technologies International Inc Proprietary and Confidential Information Appendix Grid Column Descriptions Column Deseo Wndw Conf GroupID Conf MbrID Conf Time Conf TraderID Contract Exch Exchange Exch Date Exch Mbr Exch Time Exch Trd Exec Qty Exp Date FFT2 amp FFT3 438 The confirmed group ID The confirmed IP address The confirmed member ID The time at which you confirmed your order filled as recorded by the Fill server
364. ome of the parts of the Spread Matrix window Much of the window can be customized to suit your trading style 280 845 845 oo 10 oof 10 8 10 30 213 280 33 33 oo 99 10 05 8 8 10 4651 461 MAROS JUNO SEPOS DEC08 TPE 115 6 0 554 65 833 6 5 675 675 575 665 575 150 254 150 565 PEN 254 17 5 10 0 F 10 DECOS 617 0 213 616 0 6160 461 461 Notes e LTP and LTQ must be enabled from the Spread Matrix tab on the Properties menu e The Spread Matrix displays e Calculated implied data even when it is not at the best price Implied functionality varies by exchange They determine how the implieds settings function in X TRADER Enable this feature in the Trading tab on the Properties menu e Outright prices along the top diagonally along the bottom or both Select how outright prices display in your Spread Matrix in the Spread Matrix tab on the Properties menu e The Spread Matrix lets you e Trade the best three bids or offers with the Floating Depth Window e Change your working orders on the Spread Matrix using the Order Change dialog box and a Floating Order Book e Click trade to submit an order 310 X_TRADER User Manual Trading Technologies International Inc Spread Matrix Overview Trading with the Spread Matrix Follow these procedures to trade with the Spread Matrix window e Using the Floating Order Book on page 343 e Usin
365. on and skip to Step 8 7 Click gt to transfer the products from the Products box to the Selected Instruments box In the Function box click to select the functional window in which you want to open the product Click Start to open the functional window and populate it with the selected products You successfully opened a functional window with multiple products X_TRADER User Manual 169 Trading Technologies International Inc Proprietary and Confidential Information Chapter 5 Market Explorer Overview 170 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information CHAPTER 6 Market Window Overview The Market window lets you monitor the current market and place orders for multiple instruments The following panes compose the Market window e Order Entry pane The top half of the window This is where you place your order It contains the price quantity customer and many order type fields e Market Grid The bottom half of the window This is where you monitor and select real time con tract information for trading Use tabbed Market Grids to display multiple grid panes in a single win dow Note Some functionality in the Market Grid is protected by U S Patent Number 6 938 011 ICME 6E 3 m na DER 1 5 10 dm 5x136410 GE SEPOT GTO Limit lt None gt Faai ino sn 5 1364 0 GID limi chon v Ope fa v Oa v v Defaut v ihe de nt Clk el
366. on the bottom When Issued products sort this way because they trade in yield which is inversely related to price X_TRADER User Manual 407 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 MD Trader BrokerTec affects MD Trader in the following ways e Passive and Leave checkboxes are added to the Enable Order Types section on the MD Trading tab BrokerT ec Passive eave You can assign buttons to these order types and make them sticky TradeS ounds Properties Note The Leave order type overrides the Allow only one order per side of market option on the MD Trading tab e When Issued products display with the prices in ascending order in MD Trader i e lower numbers at the top and the higher numbers on the bottom When Issued prod ucts sort this way because they trade in yield which is inversely related to price e In regards to workup the gateway handles LTQ in one of two ways e Accumulates LTQ from workup to workup at the same price level Example If LTQ at 100 01 is 5 at the end of workup it begins at 5 during the next workup at 100 01 e Resets LTQ to zero at the beginning of workup at the same price level Example If LTQ at 100 01 is 5 at the end of workup it resets to 0 during the next workup at 100 01 Note Refer to Working Up Orders on page 412 for more information Excel Links You can add links to the Market Grid Autotrader MD T
367. onds before MD Trader automatically recenters Last Traded Price Recenters when the last traded price is a set number of rows from the top or within X rows from bottom of the grid top bottom Inside Market Recenters when the inside market is a set number of rows from the top or Within X rows from bottom of the grid top bottom Enable grid recenter Flashes MD Trader before it recenters warming Automatic Grid Centering Notes e This feature works independently of the Recentering section on this tab e When MD Trader recenters it recenters the window within the current view Delete Buttons Displays separate delete buttons for your working bids and offers Delete All Displays a delete all button for clearing both your working bids and offers Implied Quantity Description Display This property lets you choose how the quantity of the 1 4 32nd price displays when it is available Displays entire quantity at the correct tradable price rounding bids down and offers up Implied Qty indi Displays the entire quantity rounding bids down and offers up with an aster cator isk next to the closest price Enabled by default Implied Qty col Creates secondary bid and offer columns to display the quantity based on umns implieds These columns display in the same color as Bid and Ask columns but display the better quantity in a smaller font X_TRADER User Manual Trading Technologies International Inc
368. one click trading Left click in the Buy or Ask columns Immediately sends a buy or sell order to the market The quantity field dictates the quantity for the order The row you click dictates the price The Buy column If the cell does not have bid quantities and the adjacent Sell column has offer quantities you are lifting the ask If the cell has bid quantities you are joining the bid The Sell column If the cell does not have offer quantities and the adjacent Buy column has bid quantities you are hitting the bid If the cell has offer quantities you are joining offer X_TRADER User Manual 267 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Right click in the Buy or Ask columns Immediately sends a sweeping buy or sell order to the market The row you click dictates the price To Right click Market Result The Buy column Sends in a buy for as many contracts as exist from the best ask price up to that price level The Sell column Sends in a sell for as many contracts as exist from the best bid price down to that price level If you right click a cell populated with either a bid or offer no orders are placed You successfully used one click trading with MD Trader Placing Stop Orders MD Trader supports the Stop Market and Limit order types In the case of the Stop Limit order you also set the number of ticks from the stop entry price Enable Stop orders in
369. one of any in the Customer List To manage the Customer List from the Control Panel point to the Settings menu and click Customer Defaults gt To select a customer profile in MD Trader 1 Click on the down arrow two cells beneath the clock ticker v lt Default gt K JANE DOE JOHN DOE 2 Click a customer name from the list You successfully selected a customer profile in MD Trader 256 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Setting the Default Quantity In MD Trader setting the Default Quantity field is not required but once you send an initial order the Order Quantity field continually resets itself to the default quantity Alternatively you can clear the Default Quantity field and make the Order Quantity persistent Default Qty field populates Order Qty field Order Qty field persists You set the maximum quantity for trades with the Maximum order quantity property However the restrictions established by Guardian take precedence over this property gt To set the default quantity 1 Click in the Default Quantity field under the CLR button 2 Use the pelete key on the keyboard to clear the contents of the field 3 Enter a default quantity or Leave the Default Quantity field blank to have the Order Quantity field persist 4 Press Enter to set the default quantity You successfully set the default quantity Setting the Trade Quantity In MD Tr
370. ons for order restrictions are determined by each exchange If the order type is not supported the Audit Trail displays an error message from the exchange Refer to each exchange s market rules for additional information Indicates whether a position is being opened or closed This information is not used by the exchange and can be used at your discretion Indicates the maximum trade quantity restriction is applied A blank box indicates that there is no maximum order quantity or none is applied You can establish a high quantity that does not restrict normal trading yet still provides security against an erroneous trade Max Order Indicates the maximum quantity allowed per trade for the specified account The Qty Maximum Order Qty field in Guardian overrides this one 88 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Creating a Customer Defaults Profile Define a profile on the Customer Defaults dialog box to establish all of the most common order variables by customer name Note Customer Defaults can be set by an administrator using TT User Setup If you cannot change your Customer Defaults an administrator may need to make changes for you Refer to TTUS Integration with Customer Defaults on page 86 gt To create a Customer Defaults profile 1 6 From the Control Panel click the Settings menu and choose Customer Defaults The Customer Defaults dialog box appear
371. or a Spread Matrix follow Outright Prices e Spread ask Front Month Ask Back Month Bid e Spread bid Front Month Bid Back Month Ask Note This formula applies to calculating a commodity spread price The formula reverses when calculating financial spd pres ES Russell and currency 6E Dollar Index When buying those spreads you buy the deferred and sell the near Outright Quantities e Best price outright quantity Lesser of the front month quantity and back month quantity e Best price spread quantity Spread quantity e Outright price and spread price are equal Lesser of the front month quantity and the back month quantity the spread quantity Implied Pricing and Implied from Implied Pricing Refer to Setting Implieds on page 225 X_TRADER User Manual Trading Technologies International Inc Spread Matrix Overview Spread Matrix Context Menu Right click the Spread Matrix window to access the context menu The available menu options include Note Only the LIFFE exchange supports the trading of Butterfly and Condor Matrices as a product e Find Control Panel Displays the Control Panel e Click Trade Enables click trading from the Spread Matrix window and displays the Click Trade dialog box e Floating Depth Enables the Floating Depth Window MD Trader Opens an MD Trader window e Chart Opens an X_STUDY chart for the selected con tract e Create Spread Creates a spread e Sho
372. ort Example You buy You sell 2 100 10 120 3 125 20 150 Your open P L is based on the last traded price LTP LTP 160 Your current Open Position 15 Average Price 15 160 143 255 Match Price 15 160 average price of the last 15 trades 15 160 150 150 X_TRADER User Manual 357 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 P L Column Display X_TRADER lets you select the P L Profit Loss column display type The position s P L column displays in one of the following e Selected primary currency The Primary Currency designation in the Guardian Cur rency Table determines the default currency The default primary currency is USD To change the primary currency via Guardian speak to your X_TRADER System Administrator e Product s native currency e Quantity multiplied by the price e Ticks gt To select the P L method 1 Right click any cell in the Position pane to access the context menu 2 Click P L based on and select a calculating method 3 Click Open P L based on and choose Average Price or Match Price 4 Click Display and choose a display type Note You can only obtain a total position P L if you have selected Currency USD You successfully selected the P L method 358 X_TRADER User Manual Trading Technologies International Inc Fill Window Overview Managing Manual Fills If
373. ose product you want to find 3 In the top left corner of the window click the down arrow and choose your search filter eo 1 ON A 9 Type your search criteria in the available space The Products field updates as you type From the Product Types box click to toggle between the displayed types Click to select the product you want to open Click gt to transfer the products from the Products box to the Selected Instruments box In the Function box at the top of the window click to select the functional window in which you want to open the product Click Start to open the functional window and populate it with the product You successfully opened a functional window for a single product gt To open a functional window with multiple products 1 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 3 In the top left corner of the window click the down arrow and choose your search filter Type your search criteria in the available space The Products field updates as you type From the Product Types box click to toggle between the displayed types Press and hold the crru key and from the Products box click the products you want to open Or To open all products in the Products box click the gt gt butt
374. osing of a market Trading Technologies recommends you use regular exchange screens to complement X_TRADER windows during periods of such delay X_TRADER User Manual Trading Technologies International Inc Fill Window Overview Fills Pane Grid Summary The Fills pane displays the exchange confirmed data about a trade To hide columns refer to the Fills Pane Context Menu on page 352 IT_Fill 3 1 3 3 3 3 3 3 3 3 For a complete list of columns available in the Trade Book window Order Book window and Fill window see Appendix Grid Column Descriptions on page 437 Note If logging is enabled LIFFE fill records write to the directory lt root gt tt logFiles on the TT LIFFE Gateway The file records all fills for each LIFFE trader everyday The file follows this format day month year Ttfill_trader mnemonic X_TRADER Administrators must manually delete these files in order to manage hard disk space X_TRADER User Manual 351 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 Fills Pane Context Menu Right click the Fills pane to access the context menu The available menu options include 352 Find Control Panel Displays the Control Panel Add Manual Fill Lets you manually enter a fill Information displays in the Fills pane and updates your P L Delete Manual Fill Deletes fills you manually added Confirm a fill Confirms a fill Cli
375. ot open use the Control Panel to open it From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find In the Productssection click the down arrow and choose your search filter Type your search criteria in the available space The Instruments field updates as you type From the Instrument Type box click to toggle between the displayed types From the Instruments box press and hold the ctr key and click the products you want to open With the cursor over one of the selected products in the Instruments box click and hold the mouse button Continue holding the mouse button and drag the cursor to the open Quote Board When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a window it changes to include a plus sign Release the mouse button You successfully populated Quote Board using drag and drop from the Market Explorer gt To populate Quote Board using drag and drop from the Market Grid 1 2 3 4 If Quote Board is not open use the Control Panel to open it From an open Market Grid click the product and hold the mouse button Continue holding the mouse button and drag the cursor to the Quote Board When the cursor leaves the window it changes to a circl
376. ote When accessed via the context menu the Set as Global Default checkbox at the bottom of the tab applies these properties to all subsequently opened MD Trader windows MD Advanced C Invert Price Column Z Enable User Defined Price Column Exchange Price Net Change Display type Native Tick offset Display Price As Yield Display C Price formatting Retain settings when contract is changed Invert Price Col Description umn Invert Price The Invert price column checkbox lets you invert the entire MD Trader price Column column placing the low price at the top and the high price on the bottom Additionally your Buy orders will be on top of the chart and your Sell orders will be on the bottom This property does not affect the direction of prices displayed in attached Time and Sales Enable User Description Defined Price Col umn Enable User Defined Lets you create and define a new price column Price Column 138 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Exchange Price Exchange Price The Exchange Price radio button lets you further customize a user defined price column which appears next to the normal MD Trader price column A user defined price column lets you display the contract price in a way that appeals to you e Native default selection Creates a copy of the normal MD Trader price column which displays prices in their native
377. other instrument Refer to Populating Windows with Contracts on page 168 Note Strategies highlight in yellow for three seconds when they appear in the Market window Trading a Spread or Strategy There is no difference to trading the strategies you create and those published by the exchange You select the Spread product type from Market Explorer and open it in the same Market window The strategy name you entered appears in the Product column If you did not enter a personalized name the default name is the spread type spread ratio expiration Note As always refer to the exchange s market rules for trading information specific to that exchange Trading Strategies with a Maximum Limits If your trading environment uses Guardian Pre execution Risk Management Credit Controls the Maximum Order Quantity limit Maximum Position limit and Trade Out fields impact trading in the following manner e Each leg of the strategy is subject to your quantity and position limits Example 1 You place a buy order for 15 GE Mar08 Jun08 Calendar spread According to Spread Risk controls you would be long 15 Mar08 GE and short 15 Jun08 GE If your Maximum Position is 20 you could only buy 5 more Mar08 GE or sell 5 more Jun08 GE e You can only exceed your quantity limit if your Trade Out designation is set to yes Example 2 Assuming your position is long 20 Mar08 GE and short 20 Jun08 GE you place an order for 20 GE Jun08 Mar
378. ou cannot change your Customer Defaults an administrator may need to make changes for you Refer to TTUS Integration with Customer Defaults on page 86 Customer Defaults m Deuir n ionn DOE M CME FUTURE a12345 x 3 JANE DOE CBOT ZB SPREAD b67890 M1 Grip Click the SEL box to add a customer to the Customer List and make them selectable from the Order Entry pane Refer to Order Entry Customer Selection Overview on page 94 Follow these procedures to manage your Customer Defaults profiles e Creating a profile e Changing a profile e Deleting a profile e Setting a profile to read only e Sharing your profiles gt To access the Customer Defaults dialog box From the Control Panel click the Settings menu and choose Customer Defaults You successfully accessed the Customer Defaults dialog box X_TRADER User Manual 85 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Customer Default Features Features of the Customer Default profile include e Choose a customer account in an Order Entry pane and automatically see the asso ciated account type e Use the same name in the Customer field to create multiple profiles for different exchanges product types and accounts When you select the customer name in an Order Entry pane X_TRADER maps to the proper account in order of the following criteria 1 Customer name 2 Market 3 Product 4 Product Type 5 Account
379. ource Exchange 8 TT_TRADER The settlement price The Stop trigger price The exercise price of an option The date the order was submitted from your workstation The time the order was submitted from your workstation These fields may be blank after re establishing connectivity to LIFFE CONNECT The trading host or TT Gateway does not retain this information Identifies the order as synthetic The Time In Force for the order The time your workstation receives the fill The time the action processed by the TT Gateway Order Book Fills Pane Order Book Trade Book Fills Pane Order Book Fills Pane Order Book Fills Pane Order Book Trade Book Fill Window Order Book Trade Book Fills Pane Order Book Position Pane Position Pane Order Book Position Pane Order Book Order Book Trade Book Fill Window Order Book Order Book Order Book Order Book Fills Pane Order Book X_TRADER User Manual Trading Technologies International Inc Appendix Grid Column Descriptions Column Deseripion wmv Time Recvd The time the TT Gateway received the order Order Book These fields may be blank after re establishing connectivity to LIFFE CONNECT The trading host or TT Gateway does not retain this information Appears when you are running in a Multi Broker environment and shows you P amp L by each broker s MGT The Trader ID column displays the MGT as a single string Tra
380. ple order entry The new Floating Windows section on the Trading tab panes Floating order entry The context menus for each window in which you want to use floating order entry X_TRADER User Manual 179 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 gt To setup multiple Floating Order Entry windows 1 From the Control Panel click the Settings menu and choose Properties 2 On the Trading tab in the Floating Windows section click to select Multiple order entry win dows Floating Windows Order Book Middle click Depth Window Mouse hover Floating Order Entry Order Pane Multiple order entry windows 3 Click OK 4 Enable floating order entry from the context menu of the windows of your choice You successfully setup multiple Floating Order Entry windows Submitting an Order using the Order Entry Pane inl CME 6f 1 51 10 A A 2 15648 0 GE JUNOG GTD Limit None 100 ao 15648 0 GID Live chon sv Open vial Data gt To submit an order using the Order Entry pane 1 Choose a customer account This assumes you set up one or more Customer Default profiles Note You can immediately trade with the lt Default gt profile This profile assumes a GTD Limit order for an agent account You can change the parameters To create customized profiles so manual changes are not necessary refer to Customer Defaults Setup on page 85
381. porting exchanges some Exchanges A trade is rejected if it falls outside the range set by the exchange Detailed information must be obtained from the exchange Maximum Depth Indicates the maximum number of depth levels between 3 and 20 displayed Levels for Bids and Offers This setting will not override the maximum depth each gateway displays Example If you set this value to 8 but the exchange limits maximum depth to 5 bids and 5 offers you will only see five levels Market Depth Indicates the number of rows of depth displayed in the Market Grid when increment you choose the Depth layout from the context menu Each time you click the depth arrow the same number of depth rows display Default is 5 rows Note The maximum amount of depth displayed depends on the Gateway Floating Description Windows Order Designates how you call the Floating Order Book Book lt Disabled gt Disables the floating order book Middle click When you click the middle mouse button Keyboard Hotkey tab establishes launch button Refer to Using the Floating Order Book on page 343 for a procedure Mouse hover When you hover the cursor over the product Depth Designates how you call the Floating Depth Window Window lt Disabled gt Disables the floating depth window Middle click When you click the middle mouse button Keyboard Hotkey tab establishes launch button Refer to Using the Floating Order Book on page 343 for a procedure Mouse
382. r Right click the Time and Sales pane and click Close You successfully removed time and sales from MD Trader gt To move the time and sales column Note You cannot rearrange the order of the time and sales columns price quantity time 1 Click and hold a time and sales column header 2 Drag the column header to either the left or right side of the MD Trader window 3 Release the mouse button You successfully moved the time and sales column Customizing the Default Quantity Buttons in MD Trader You can customize the preset order quantity buttons in MD Trader These buttons are stored as part of a workspace gt To define a custom preset order quantity 1 Right click the Preset Order Quantity button 2 Type a value using the keyboard 3 Press Enter You successfully defined a custom preset order quantity X_TRADER User Manual 275 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Managing Links in MD Trader You can paste data from an Excel spreadsheet into the indicator columns in MD Trader When a price matches the pasted value in an indicator column a marker appears next to this price value Using this method you can indicate price points based on a proprietary algorithm For example you can paste the Last Traded Price for a product from X_TRADER to a spreadsheet with a proprietary formula After the formula produces a new price value you can paste that
383. r and click Properties 3 Click to select the Enable keyboard and function key trading option 4 To set this property for all subsequently opened MD Trader windows click to select Set as Global Default 5 Click OK You successfully enabled keyboard trading using the local context menu gt To enable keyboard trading from the global Properties menu 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Hotkeys tab 3 In the Component section click to select MD Trader 4 Click OK You successfully enabled keyboard trading from the global Properties menu 282 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Changing Hotkeys in MD Trader You can change the hotkeys associated with commands in MD Trader using the Hotkeys tab on the Properties menu Note You must enable keyboard trading to use the hotkey commands gt To change a hotkey From the Control Panel click the Settings menu and choose Properties Click the Hotkeys tab In the Keyboard Layout field click to select Custom In the Component section click MD Trader In the Command section click the command for which you would like to change the hotkey Click in the Press new shortcut key field Type your new hotkey Click Assign If the hotkey is already assigned to a different command you are prompted GO ON St sree 19 You successfully changed a hotkey X_TRADER User Manual
384. r number of the trade initiated by the buyer Note This information must be obtained from the Buyer 5 In the Exchange field click the Eurex exchange on which the order was submitted 6 In the Product Type field click the order type 7 Click Inquire In the Order Book the Submit button becomes the Accept button Click to select the sell side of the order in the bottom of the Order Book and re select your customer account in the top of the Order Book Click Accept The Order Book and Fill window indicate the accepted trade information You successfully accepted a block trade entered into the Eurex exchange 220 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Making a Block or Volatility Order Inquiry Use the Inquire Block Order dialog box to receive and validate orders for the sell side of a Eurex block trade gt To make a block or volatility order inquiry 1 With X_TRADER open and logged into the Eurex exchange open the Order Book 2 Right click in the Order Book to access the context menu and click Inquire Block and Vola Order The Inquire Block and Vola Order dialog box appears Inquire Block and Vola Order Restriction Order Number Exchange Product Type Block EUREXA FUTURE v 3 In the Restriction field click whether the order is a Block order or a Volatility order 4 In the Order Number field type the exchange generated order number
385. r the selected contract to indicate it will be quoted e Deactivate Unmarks the Quote column for the selected contract to indicate it will not be quoted e Wholesale Orders Provides options for submitting wholesale orders on the LIFFE exchange This option opens an additional Wholesale Order window e Rename Contract Rename a contract or add text to a spacer row e Price Format Provides price display options e Native Keeps the native format of the product e Ticks Changes the price format to ticks exclud ing decimals e Decimal Changes the price format to include two decimal places e Formatting Lets you customize fonts and borders e Clear All Formatting Returns formatting to the default e Hide Hides the selected row s or column s e Show Hide Rows Lets you select which rows to show e Show Hide Columns Lets you select which columns to show 192 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Using Tabbed Windows To make trading on the Market Grid and Spread Matrix windows easier you can add tabs to them Rather than open several instances of these windows tabbed grids let you preserve screen space and embed up to twenty tabs on a single window Each tab appears sequentially but for better recognition they can be rearranged renamed and color coded FI CME A ES oo gnn a Cow A 0x0 ES MAROB GTD Limit lt None gt GID Limit cNo
386. r to Consolidating Prices on page 262 Note You can also consolidate prices using the Price Consolidation slider See the Slider Control property Sets the offset to use when consolidating rows Example A product ticks 10 11 12 13 14 15 but you consolidate it to show 10 15 20 25 30 If you then want to show 12 17 22 27 32 you need an offset of 2 Shows a slider control that consolidate prices by the number of ticks set in the Tick Increment property Tick increment Sets the number of ticks the Price column consolidates for each movement of the slider control Note These properties work independently of the Automatic Grid Centering property on this tab Recenter on price Double click the Price column to recenter the MD Trader grid column left double click Highlight midpoint Bolds dividing line between the best bid and best ask of last recenter Global recenter Note This property enables by default New and existing workspaces are automatically affected by the property X_TRADER User Manual 133 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 134 Recenters all MD Trader windows when you recenter one You can disable this property for individual windows Automatic Grid Description Centering Automatic grid cen Enables MD Trader to automatically recenter itself based upon the param tering eters you set Every X seconds Sets the number of sec
387. rader and the Fill windows e For prices imported from Excel to a BrokerTec product X_TRADER interprets the final digit 4 as a e For prices exported to Excel from a BrokerTec product X_TRADER converts the for the final digit to a 4 Warning Be careful when using BrokerTec prices in Excel calculations Excel does not interpret the digits 4 and 6 as 1 2 and 3 4 respectively 408 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Autotrader and Autospreader All orders sent to the market from either Autotrader or Autospreader are e Aggressive orders i e will Hit or Take Passive orders e Leave orders i e will not cancel previously sent orders on same side of market Note Refer to Working Up Orders on page 412 to see how Autotrader and Autospreader are affected during this unique time Also refer to Autotrader Tick Formula on page 414 Click Trading When you click up in the Click Offset or Dime fields the values for all products including When Issued increment When you click down in the same fields the values for all products including When Issued decrement Unique Functionality in BrokerTec BrokerTec adds functionality to X_TRADER that does not exist for other exchanges This includes e Placing Passive and Aggressive Orders e Working Up Orders e Send Quote Order Property e Leave checkbox e Hold In Timer e Autotrader Tick Formula X_TRADER User
388. rail may appear smaller However data from earlier in the day is still viewable in previous Audit Trail log files Example F AuditTrailt oP t Seconds 3 Lip Window Alert Oryoucanviewoalc oq re In the example above the Audit Trail was closed in the morning and reopened in the afternoon The Audit Trail had just started a new Audit Trail log file after reaching 50MB The rest of the day s data can be accessed from here lt root drive gt tt logfiles Grip If you leave the Audit Trail open all day you can see the entire day s events X_TRADER User Manual Trading Technologies International Inc CHAPTER 5 Market Explorer Overview Use the Market Explorer window to select markets and products you wish to trade from one or more available exchanges By selecting an Exchange and Product Type you may then select individual products or contracts in the Products box and move them into a functional window for trading Market Explorer CONTAINS Market Grid Ci seachDesbir Exchanges Products A Selected Instruments BTec H CME 45S CHE 6E SEP08 caor CME 4GE J G CME 6E DECoS ME H CME 4NQ M m UFFE H A CME 4s uote Board SFE J CME 56M Spread Matrix O Time And Sales CME SAL H CME SEJ CME 5GE CME SNO Default Chart H CME SSI amp CME 66M H CME 6A Product Types 3 CME GAL FUTURE lt amp CME 68 Ea SPREAD c
389. rameters 11 Click the Close button to save X_TRADER User Manual 83 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 You successfully added a spread table Copying a Spread Table gt To copy a spread table 1 Click the name of an existing spread table 2 Click the Copy button 3 Enter a new table name and press ENTER All spread table data is copied to the new table 4 Click the name of the new table and edit the bidding parameters as necessary 5 Click the Close button to save your changes You successfully copied spread table data from one spread table to a new one Saving a Spread Table gt To save a spread table After entering the information into the spread table in the Spread Tables dialog box click the Close button You successfully saved a spread table Removing a Spread Table gt To remove a spread table 1 Click the name of an existing spread table 2 Click the Remove button You successfully removed a spread table 84 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Customer Defaults Setup You define profiles on the Customer Defaults dialog box to establish all of the most common order variables by customer name These variables include but are not limited to market vs limit order and FOK IOC Note Customer Defaults can be set by an administrator using TT User Setup If y
390. rately X_TRADER User Manual 397 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Tradable Instruments Financials Euro Dollar Currency Future amp Options Financials Dollar Euro Currency Future amp Options Index and Equities AEX Futures Index and Equities Individual Equity Options Notes Prof Trades e When confirmed receive a fill only for the side of the trade that was entered via that Order Server e Must represent a size of at least 250 contracts all legs added together e With a single counterparty at a single price must be submitted separately but can be bundled together using a Package Identifier e Cannot be entered in Strategy markets but can be created by linking trades in several outright markets together using a Package Identifier Chip Using the same Package Identifier lets brokers submit multiple Prof Trades but be assessed a clearing fee for a single Prof Trade 398 X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Strategy Wholesale Trades You can trade strategies using the Wholesale Trading windows Block Strategy Trade Series AMR Seller Price Trader 4HE Quay Acc Code Open Close Transaction Code CTI Posting Code Account Block Market Maker Cross Guaranteed Crossing Asset Allocation ESX SEPO6 6025 C x 1 Z SEPO6 58900 x 20
391. rcely competitive global market X_TRADER Pro is an add on to the standard X_TRADER software package This add on automatically installs with X_TRADER but can only be activated by the purchase of an X TRADER Pro license X_TRADER Pro consists of the Autotrader and Autospreader tools X_TRADER User Manual 27 Trading Technologies International Inc Proprietary and Confidential Information About This Manual Global Customer Support Center Trading Technologies Global Customer Support Center CSC has three primary locations Chicago London and Singapore For a comprehensive list of phone numbers and our email address please see our support Web site at http www tradingtechnologies com support aspx Automated Phone Menu To ensure your call is routed to the Customer Support Representative who can best answer your question TT uses an automated menu to route calls for the Client Support Center Upon calling the Customer Support Center you hear the following prompts e For Non Support related calls press 0 Example Use to reach specific individuals or other departments such as Sales Account Management or Finance e For front end how to questions relating to applications such as X_TRADER or X RISK press 1 Example Use for questions regarding functional setup or optimization e To report front end software issues press 2 Example Use when reporting software issues relating to applications such as X T
392. rder type are rejected Brokertec Order Type Associated TT Description Order Type FAS Fill and Save Limit Order Fills as much as possible The remaining order quantity becomes Passive FOK Fill or Kill Fills order completely or cancels the order imme diately Partial fill is not accepted FAK Fill and Kill Fills as much as possible The remaining quantity is canceled immediately Order with hidden size Iceberg The remaining order quantity becomes Passive 406 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Pricing Notations BrokerTec uses the following notation e 0 gt 0 8 0 e 2 gt 2 8 0 25 e gt 4 8 0 5 e 6 gt 6 8 0 75 CBOT uses the following notation for futures e 0 0 00 e 2 gt 0 25 5 gt 0 5 e 7 gt 0 75 The two notations are equivalent v Pricing Format Prices for BrokerTec products display in the following manner e 2 3 and 5 year Actives trade at a quarter of 1 32 Example 100 02 100 022 100 02 100 026 100 03 etc e 10 and 30 year Actives trade at half of 1 32 Example 101 00 101 00 101 01 101 01 etc e 2 3 5 10 and 30 year When Issued contracts trade in yield Note No trailing zeroes display for Actives pricing formats Market Grid When you display depth in the Market Grid When Issued products sort with the prices in ascending order i e lower numbers at the top and the higher numbers
393. redit risk limitations The trader submitting the order will be notified by the exchange if it is approved Note Wholesale orders appear in the Audit Trail window and the Total Traded Quantity column in the Market and Fill windows Wholesale orders do not appear in the Order Book window gt To submit a basis trade 1 OY Du P D D Log mto the appropriate exchange Open the Market Explorer and select a product Open a Market window for the selected product In the Market window click in the row containing the product Right click in the row to access the context menu Highlight Wholesale and click Basis The Basis Trade window displays The Series Month and AMR fields display data from the Market Grid 7 In the Price and Quantity fields type the appropriate values 8 Complete steps 9 17 in both the Buyer and Seller sections 9 In both Ace Code fields type the account code for this trade 10 11 12 13 14 15 16 17 18 Note Valid entries include H House L Local S Segregated or N Non segregated In both Open Close fields type O or C to indicate whether this trade opens or closes a position In both ISIN fields type the International Security Identification Number In both Cash Prc fields type the price for the underlying agreed to by buyer and seller In both HR fields identify the methodology used to determine the price for the underlying com ponent Note Valid entries includ
394. remain active in the market they may unknowingly fill Chip If this occurs restart X_ TRADER as soon as possible and click Delete from the quoting Market window This pulls all live quotes from the market 236 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Trading Eurodollar Options The following changes were made to X_TRADER to support Eurodollar options e Market Grid changes e Request For Quote changes Market Grid Changes Four new columns were added in the Market Grid They are hidden by default e IndBidQty Best indicative Bid Quantity e IndAskQty Best indicative Ask Quantity e IndBidPre Best indicative Bid Price e IndAskPre Best indicative Ask Price Note The prices in these columns are not directly tradable They show an approximation of the tradable prices u A contract vet Srs apuy pioty BidPr atiqoty mania maaske maaskaty AskPie Askov APROG C8950 APROG P8950 APRO6G C9025 APROG P9025 Request For Quote RFQ Window Two new fields appear in the RFQ window e Side Determines what kind of trade you are requesting the quote for Options are Buy Sell Both e Ind Tradable States whether the quote being sent is indicative or tradable Request For Quote 15 GE APROB P8950 Both Sides Tradable k Tradable X_TRADER User Manual 237 Trading Technologies International Inc Proprietary and Confidential Information C
395. rept aa Qa uN 348 PIETERSE 34 wing Sou Sac cme A a Ae Su eee at w Ween dade at pm a TUN when Aut ea TNS ay tN al DAO ae ye ss i 348 X X_TRADER User Manual Trading Technologies International Inc Table of Contents FILLS ALERTDIALOGBOX ss sss sisisisisisisisiss LL 349 FILLS PANEOVERVIEWsiis s lt i lt iCtS L 350 FILS PANE SG RED SUMMARYS TOT C O yales se scacn a2 sc peeesieedean sth enue baserassycese anus eens seh os 351 FILES PANE GONTEXT MENU nose za on nytt Bice be anan ey baane dad Be Ouch Sani Merei nuia E 352 START ORD AY BILES aE z t DTN deg edo Ad eh Clue Cu WR 0 cual core we Lin ets etal eas 353 POSITION PANEOVERVIEW ss ss s s i i lt iC 354 POSITION PANE GRID SUMMARY 355 POSITION PANE CONTENT MENU 3 10 gt east s esl SS Y aa otf coe sera GSA Vee een Sone t ne A Teepe ee COs 356 CALCULATING PROFIT ANDLOSS ooo 357 Open P L Based On Formula 357 P L Column Display lt 2202 dattelde ddan yana qamanhulcsiahanhsyculaq utasa dees sued dabediedadehe 358 MANAGING MANUAL FILLS eee 359 ADD MANUAL FILLS DIALOG BOX FIELD DESCRIPTIONS see 360 ADDING A MEANUATS BILE te sce causal n eA ey Bis cde mle Os eds Aa loge 22 cents ds Citra asia she uD nls 2 aa z 360 DBLETING AM ANUAL PILE joc Si a his Ui hottie hols dome seat ee l ghey O iD UU ts th ego ss 362 SAVING A MANUA DRIE asun ene azu Aa Ekipa
396. rietary and Confidential Information Chapter 3 Highlight Description Minimum Highlights according to the following market characteristics highlighting e When both the quantity and price change mode e When the Last Traded Price LTP is on the bid or ask If the Last Traded Price was not on the bid or ask the grid does not highlight Used for the Market Grid and Spread Matrix Enabled by default Highlights the best price in the market Improves identification of affected cells when the market moves Cell on hover Displays a 3 D effect as the cursor moves over a cell to help track your cursor position Border on Improves identification of affected cells when the market moves change Highlight Border Width Set a border width using the arrows Market Grid Description Columns Market Grid Sets the default visible Market Grid columns Columns 100 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Admin Alert Messages The Admin Alert window displays messages sent from your risk manager or other administrator When you enable the Show Admin Alerts in the Trading tab on the Properties menu the Admin Alerts window appears similar to the sample below Admin Alert Messages To close click the X in the upper right hand corner Messages remain in the Admin Alerts window until you close the window or exit X TRADER They also appear in the Audit Trail On
397. rrency Contract Currency Contract Argentine Peso South Korean Won Chilean Peso Malaysian Ringgit Renminbi China Nuevo Sol Peru Colombian Peso Philippine Peso Rupiah Indonesia Russian Ruble Indian Rupee New Taiwan Dollar EBS Non Deliverable Forwards X_TRADER User Manual 415 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Trading Contracts in the EBS Quote Board The EBS Quote Board window lets you quickly trade EBS contracts using the mouse keyboard or an EBS keypad By default the Floating Order Entry option on the EBS Quote Board window is enabled This lets you trade using the Order Bar Order Pane or MD Trader depending on the setting in Trading tab on the Properties menu We recommend you use the Order Bar In addition to opening up to ten EBS Quote Board windows you can create multiple tabs on one window Refer to Using Tabbed Windows on page 193 EBS Quote Board EUR USD USDIJPY 22 23 22 23 EURIJPY i USDICAD 23 26 EURIGBP USDICHF 108 375 405 43 s4 86 87 250 The EBS Quote Board gt To trade with the mouse 1 Follow the table below Join the Bid or Offer Right click a price or quantity Take the Bid or Offer Left click a price or quantity 2 Complete your order using the floating order entry window you have set You successfully traded with the mouse gt To configure X_TRADER to trade using an EBS
398. rsor rolls over it so you can identify where it is You can customize the highlighting color in the MD Color tab Displays MD Trader on top of other applications Shrinks window to maximize your desktop space Disabled by default Hide Titlebar Buttons Hides the zoom buttons that normally display in the titlebar Enabled by default Hides the zoom buttons in the titlebar so product names can be easily read Bid Ask Display Bold text Color code blank spots Bid indicator col umn Ask indicator col umn Aligns the text in the Buy column to the right or left Aligns the text in the Sell column to the right or left Text in the bid and ask columns bolds Keeps bid and ask column colors even if they have not traded Displays the Bid Indicator column used for pasting Excel links Displays the Ask Indicator column used for pasting Excel links Volume at Price Volume at Price Enables the view of traded contracts in the Last Traded Quantity column Displays total volume at price in numbers The slide bar to the right sets the text alignment Displays total volume at price in bar chart format The slider bar to the right sets the bar alignment Bar Qty Sets the number of contracts each bar represents e A lower number increases the number of bars displayed when several trades have occurred at that price e A higher number decreases the number of bars displayed when several trades have occurred at that price Chan
399. rties outside of the normal exchange trading methods When you select Block from the Order Type field the Counterparty Information field automatically displays Enables Fill or Kill FOK immediately fills the entire order or immediately cancels the entire order Enables Iceberg Iceberg restricts your order with a disclosed quantity so you can execute your total order by only sending portions of it to the market at a time Attributes of an Iceberg include e Each disclosed quantity is equal e On the Order Entry pane set the quantity as an order quantity or a percentage of the total order quantity In MD Trader you can only set the parameter as an order quantity Enables Immediate or Cancel IOC immediately partial fills the order before the balance cancels 102 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Enable Order Description Types Enables If Touched IT submits the order a set number of ticks away from the inside market and is activated when the market touches the price level Enables Limit On Close LOC sets a limit order that only executes at the close Any portion not filled at the close cancels For TSE and OSE only Enables Limit On Open LOO sets limit order that only executes at the open Any portion not filled at the open cancels Enables Limit to Market LTM sets a limit order where any unfilled portion converts to a market order at the close For TSE and OSE only
400. s Customer Defaults 7 Default a oin DOE 7 CME FUTURE a12345 A 3 JANE DOE CBOT ZB SPREAD 67890 M1 In the next available row in the Customer field type the customer name Note The first profile has a customer name of lt Default gt which you cannot change To add the customer to the Customer List and make them selectable on the Order Entry pane click to select the SEL box Fill in the rest of the customer profile information in the remaining fields Notes e In columns with multiple options an asterisk represents all products Refer to Cus tomer Defaults Dialog Box Field Descriptions on page 87 e The Account is the account number used for clearing TT risk management systems override this field Always enter the same value here that exists in risk management e Some exchanges do not support the FFTEXT2 and FFTEXT3 fields When changing data on the Customer Defaults dialog box make sure you press Tab or ENTER to advance to the next field This saves your changes Close the Customer Defaults dialog box You successfully created a Customer Defaults profile X_TRADER User Manual 89 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Changing a Customer Defaults Profile Chip Click the SEL box to add a customer to the Customer List so you can trade for them Refer to Order Entry Customer Selection Overview on
401. s Lists all exchanges you are logged into Each exchange has three servers price fill and order The color indicator tells you the status of the servers e Green indicates all servers for that exchange are up e Yellow indicates some servers for that exchange are up e Red indicates all servers for that exchange are down List of product types for the selected exchange List of all products for the selected exchange and Product Types after any filters have been applied Transfers selected items to and from the Products and Selected Instruments boxes Shows all products that have been transferred from the Products box Displays functional windows to which you can open contracts Note You must have an X_TRADER Pro license to select Autotrader or Autospreader Opens the selected function with contracts listed in the Selected Instruments box Displays contracts for Spread Option and Strategy Product Types X_TRADER User Manual Trading Technologies International Inc Market Explorer Overview Market Explorer Advanced Field Descriptions The advanced fields in the Market Explorer window include Field Descriptions 4 O Contracts Lists the expiration of the first leg for spreads strategies or the expiration of the contract for options The format matches the format of the leg contract Example Jun08 Q1 09 Summer 08 Lists the exchange predefined types for the selected product Example Call
402. s Starting Plug ins You can start and stop all installed X_TRADER and X_TRADER Pro plug in applications from the Control Panel Proper licensing must be in place in order to access each plug in Once started from X_TRADER plug ins perform normally For instructions on using them see the online help provided with each plug in When X_TRADER closes all plug ins started through X_TRADER also close You can start plug ins in two different ways e Manually You log into X_TRADER and start any number of instances of any licensed plug in application e Automatically You log into X_TRADER and select each licensed plug in you want to start with X TRADER During subsequent logins X TRADER automatically starts one instance of each selected plug in X_TRADER User Manual 151 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 gt To manually start a plug in 1 From the Control Panel click the Window menu and choose Plug ins Or From the Control Panel click the icon The Plug Ins dialog box appears displaying all your installed X_TRADER plug ins z Plug Ins Manual Launch Launch on Startup ACDC Alert Manager EFRT EFRT v2 File Distributor Fill Exporter Fill Recapper Fill Recorder Fill Ticker Server Navigator OCO Trader E oome E saone Spread Driver Note e Ifthe text is green you have the proper licensi
403. s The first confirms the exchange received an inquiry request The second confirms that the order status information has been provided E AuditTrail2 P time Pen statue Mou Action BS aty Product Contract Uni ES ES eT a ana usai ee Ss j upcwass 196 11 14 53 111 CME ACCEPT You successfully inquired about the status of an order Removing Stale Orders It is possible for stale filled orders to remain in the Order Book if e A confirmed fill arrives at the same time you use the Inquire button to request status for an order e You click the Change button to modify the order gt To remove a stale order from the Order Book Perform the order status inquiry procedure This confirms and updates the status of an order and removes stale orders You successfully removed a stale order from the Order Book 332 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Altering Orders in the Order Book Use the following procedures to alter orders in the Order Book Change an Order on page 334 Canceling Replacing an Order on page 335 Modifying an Order with the Order Bar on page 336 Changing Trigger Price Orders on page 337 Using the Hold Feature on page 337 Using TIF Options on page 339 Deleting an Order on page 340 X_TRADER User Manual 333 Trading Technologies International Inc Proprietary and Confidential Information Chapter 11 Change an Order In theory th
404. s the status of the drag and drop Added contract information You successfully populated the Time and Sales window using drag and drop from the Market Grid 374 X_TRADER User Manual Trading Technologies International Inc Time and Sales Overview Reading the Time and Sales Window The Time and Sales window keeps a running record of sales for each product added in the chronological order it is received Use the scroll bar to view all received information e Each new entry is added to the top of the list causing the window to auto scroll Time and Sales downward 1 om an e Ifyou manually scroll 14 12 45 q through the list to review 14 12 44 older data auto scroll turns 14 12 44 off 14 12 44 14 12 44 e A red line at the top of the 14 12 44 window indicates you can A scroll up to view additional 14 12 44 14 12 43 Information sm e To return to auto scrolling scroll to the top of the win dow Note Each row is subject to filters applied to the Time and Sales window All information is stored in a file called TAS Data YYYYMMDD_000001 csv in the directory lt root drive gt tt datfiles tsdata Recognizing Color Codes Each row in the Time and Sales window displays information about a single trade for a contract The row information is color coded so you can easily identify the trade activity These colors can be changed in the Color tab on the Properties menu 151200 10 151275 1
405. s D Descending 3 In the Sort by field click the first field to sort by 4 Click whether to sort this field in Ascending or Descending order 5 If you want to use another field to further sort the Trade Book window in the Then by field click the second field to sort by or Skip to step 9 6 Click whether to sort this field in Ascending or Descending order 7 If you want to use another field to further sort the Trade Book window in the Then by field click the third field to sort by 8 Click whether to sort this field in Ascending or Descendingorder 9 Click OK You successfully defined the sorting parameters of your Trade Book X_TRADER User Manual 369 Trading Technologies International Inc Proprietary and Confidential Information Chapter 13 Trade Book Overview 370 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information CHAPTER 14 Time and Sales Overview The Time and Sales window provides you with the ability to track record and save time and sales information for products traded through X_TRADER You populate a Time and Sales window with one or more products using the drag and drop method from the Market Grid Time and Sales s 6 ed MAP 14 12 45 14 12 45 14 12 44 14 12 44 14 12 44 14 12 44 14 12 44 14 12 44 14 12 43 Follow these procedures to use the Time and Sales window e Populating the Time a
406. s Limit orders during the closing auction Limit On Close of the current business day Any portion not filled at the close cancels For TSE and OSE only Enables If Touched LIT submits the Limit order a set number of ticks away X_TRADER User Manual 127 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Enable Order Description Types from the inside market and is activated when the market touches the price level ticks from stop entry price Sets the number of ticks the limit price is from the entry price Enables If Touched MIT submits the Market order a set number of ticks away from the inside market and is activated when the market touches the price level Enables Market to Limit MTL send a Market order with the condition that on a partial fill the remaining quantity rests as a Limit order at the price that was just hit or taken Available on TOCOM and SGX LTM Enables Limit to Market LTM sets a limit order where any unfilled portion Limit To Market converts to a market order at the close For TSE and OSE only On Close Enables Best Limit BL lets you join the best bid or offer without entering a price Available on TOCOM Indicates the OCO strategy in use Strategies are designed to accomplish specific goals A Bracket applied to a current Long position is intended to exit the position at either a profit or a protective stop Hence both orders must be Sell orders
407. s delivering flow Example Power contracts specify delivery of a particular amount of electricity to be delivered onto a power grid for a given period of time Some natural gas contracts specify delivery of a particular amount and quality of natural gas to be delivered into a nationwide pipeline for a given period of time The actual deliverable quantity of products that specify delivery in flow can vary from contract to contract This is due to the variation in the number of days in a given month Example A power product that specifies the delivery of a given amount of electricity per day for the entire delivery month will have different deliverable quantities for Sep08 30 days and Dec08 31 days In general the conversion between contracts lots and flow can be expressed as follows e Contracts Represents entire delivery amount e Lots Represents number of delivery periods in a contract e Flow Represents the amount to be delivered in each delivery period Further Examples All monthly IPE Brent futures contracts specify 1 delivery period consisting of 1000 barrels of crude oil So e 1 contract 1 lot 1000 barrels per month e 5 contracts 5 lots 5000 barrels per month Example The ICE US Henry Hub Natural Gas Jan05 contract specifies 31 delivery periods of 2500MMbtu per day So e contract 31 lots 2500MMbtu per day 77 500 MMBtu Contract e 3 contracts 93 lots 7500MMbtu per day 232 500 MMBtu Contract
408. s delivery period Because X_TRADER uses a three tier structure in Market Explorer it combines the ICE exchange Product Name and Hub to form the X_TRADER Product Name Listing Exchange Instrument Type Time strip Contract Types ICE Futures e Monthly Sep10 Nov10 Quarterly Strips Q2 10 Q1 10 Seasonal Strips Winterl0 Summer10 Yearly Strips Cal09 Cal10 Monthly Sep10 Nov10 etc Monthly Strips Sep10 Oct10 Jan11 Feb11 etc Quarterly Strips Q2 10 Q1 10 etc Seasonal Strips Nov10 Marl1 Winter 1 etc Yearly Strips Cal08 Cal09 etc ICE Spreads Time Mar08 Apr08 Cal08 Cal09 etc Location WTI Brent Zone A PJM etc Basis Cash versus Futures Crack Crude Oil versus Processed Products 428 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges Implied Pricing Trading TT supports limited implied pricing for executing trades on ICE Trade products on ICE using X_TRADER in the same manner you trade other futures Using X_TRADER you can view and manipulate all cleared and clearable orders that you submit via WebICE You can likewise utilize WebICE to view and manipulate orders you submit through X_TRADER X_TRADER does not display orders entered in WebIce as Bilateral If you submit an order on WebICE as Bilateral or as Clearable and it executes bilaterally X_TRADER does not process the fill For multi period delivery pro
409. scriptions 75 setup 74 Production Mode 29 Prof trades 397 Profit and Loss 357 Properties 95 audit trail tab 111 autospreader tab 145 color tab 116 EBSQuote Board 420 452 fill tab 106 hotkeys tab 143 md advanced 138 263 md color tab 135 md display tab 131 md trading tab 125 order entry tab 102 orders tab 109 quote board tab 142 sounds tab 113 spread matrix tab 121 time and sales tab 124 trading tab 96 Q Quantity or Price controlling with keyboard 223 controlling with mouse 182 Questions 28 Quote Audit Trail 234 Quote board property 413 Quote Board 319 color properties 324 context menu 325 features 320 floating order entry 325 managing properties 324 populating 320 reading 323 using floating order entry with 325 Quote Board tab 142 Quoting 229 activating a strike or expiration 234 additions to the market grid 229 deactivating a strike or expiration 234 deleting quotes 235 disabling 236 editing 233 enabling 231 generating 233 market mode 229 sending 233 status at shutdown 236 test mode 229 tracking quotes 234 R Read only customer defaults 91 X_TRADER User Manual Trading Technologies International Inc Reading md trader net change indicator md trader text and grid colors quote board spread matrix time and sales window Recognizing active exchanges Recognizing Color Codes in Time and Sales Recreating a Spread Strategy Related documentation Removing event sounds fast fills spread tabl
410. se click trading in the Market Grid Note When you enable Click Trading all safety measures are removed 1 Enable Click Trading 2 Enter the required quantities and information from the table below Field Description o O Enter your click trading order quantity Click Offset Field based on the Last Traded Price protects you from sending an order too far away from the last traded price Enter the maximum number of ticks the price can move from the last traded price Note Click Offset and Click are mutually exclusive Click Plus Minus Field based on the current inside market lets you chase a fast moving market Enter the maximum number of ticks the price can move from the inside market price Example If the Click value is two ticks where the tick value for the product is 01 and bid price is 115 99 the worst price accepted is 115 97 Ifa better price is available the order fills e g 115 98 or 115 99 Note This example assumes theoretical prices are not used 216 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Field Description O When you dime the market the action implies order entry not necessarily order execution This feature lets you enter orders off the market without using the Price and Quantity fields in the Order Entry pane The value you enter defines at what price based on the current inside market the order is entered The f
411. ser Manual Trading Technologies International Inc Audit Trail Context Menu Audit Trail Message Types Audit Trail messages break into the following categories e Order messages e Exchange announcements e Gateway alerts e Error messages Order Messages Order messages include buy sell change cancel replace delete fills and partial fills The first line details the order information including e The time the order was sent from the workstation to the TT Gateway Time Sent column e An order status of Accept e An action of Add Change or Delete The second line immediately follows the first and indicates acceptance by the TT Gateway The order has been routed to the exchange host The third line displays sometime after the previous two This message confirms receipt from the exchange and includes e The time the confirmation was received by the workstation Time Processed column e A status of OK e The time the confirmation was sent by the exchange s host machine Exch Time column A status of OK and an action of Partial displays when an order partially fills A status of OK and an action of Fill displays when an order fills When you cancel and replace an order the confirmation from the exchange host reflects a new order number Exchange Announcements Exchange announcements display a status of Alert Info or Warning and reflect general information sent by the exchange host or the TT Gateway For details on filtering
412. sing e The Window menu e The Toolbar icons Window Menu The following options are available from the Window menu on the Control Panel Market Explorer Market Window Order Book Fill Window Trade Book Audit Trail Time and Sales Customer List Create Strategy Quote Audit Trail Spread Matrix Autotrader Autospreader Available Credit MD Trader Alerts Manager Quote Board EBS Quote Board BB e B a x x A amp s Q all 2 X_STUDY Plug ins g lt TT Minimizer 64 Market Explorer Lists products by exchange marketplace Open one or more functional windows with one or more products Market Window Opens a blank Market Grid with the Order Entry pane on top Used for watching the market and placing orders Order Book Manages your open orders Monitor change or delete orders or perform a status inquiry about any open order Fill Window Lists the current day s trades Trade Book Displays an aggregate fill for a single order number on a separate line Audit Trail Displays data sent to the exchange and the responses received from the exchange Order add delete change inquiry trader and customer detail as well as error messages and all exchange announcements are detailed in this window Time and Sales Provides the ability to track record and save time and information for products traded through X_TRADER Customer List Displays all accounts by customer name base
413. sizing 278 wholesale orders 197 sending an order 286 wholesale trade window 381 setting time in force 258 workspaces 71 small md trader 265 Order bar 143 207 stop orders 268 keyboard trading 210 sweeping the market 287 modifying an order 209 336 text and grid colors 259 Order book trade quantity 257 column descriptions 437 trading out a position 270 Order Book 327 using 253 altering orders 333 MD Trading tab 125 canceling and replacing orders 335 Mid point in MD Trader 266 changing trigger price orders 337 Minimizer 48 context menus 331 Minimum Volume 293 300 deleting orders 340 MIT 292 296 field descriptions top 329 MKT 297 floating order book 342 MLM 103 127 292 grid summary 330 MOC 292 298 holding orders 337 Modifying a Eurex Block Order 219 remove stale orders 332 MOO 292 297 status inquiries 332 Moving time in force tif 339 md trader columns 278 trader identification 328 rows or columns 58 Order cancels order 300 MTL 292 299 Order Change dialog box 224 MTL IT 292 296 using 224 Mutual Offset order 181 Order Entry Pane 172 MV 293 300 available credit 185 closing 184 control quantity and price with keyboard 223 N control quantity and price with mouse 182 executing an order 180 NDFs 415 field descriptions 172 Net change 256 floating order entry 176 Non deliverable forwards 415 multiple 179 mutual offset order 181 order status 184 O quantity buttons 182 synthetic disclosed quantity orders 185 Oca ae oe 1 Restrictions TES One
414. st net change trader position and P L for several markets at once 66 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Button Description x C X_STUDY Chart Opens a blank chart Refer to the X STUDY User Manual for an overview Plug ins Starts X_TRADER Plug in applications Note You must obtain proper licensing to use each individual Plug in Changing the Size of the Toolbar You can increase or decrease the size of the icons on the toolbar gt To change the size of the icons on the toolbar 1 From the Control Panel click the Settings menu 2 Highlight the Toolbar option Three options appear Small Medium Large or the Classic Look 3 Click the size you wish to make the icons on the toolbar You successfully changed the size of the icons on the toolbar X_TRADER User Manual 67 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Workspace Setup Your X_TRADER workspace holds a snapshot of your desktop It records all your open and minimized windows their spatial relationships color font column row sizing placement selection and saves them so that each time you launch X_TRADER it looks the same way Create one or more workspaces to customize X_TRADER to fit your trading style and environmental requirements Follow these procedures to manage workspaces Creating a workspace Opening a workspace S
415. st fill until you refresh Fills your position Enabled by default Properties include e After Sets the refresh rate for Fast Fills Fast fills that do not receive a matching confirmation from the exchange are considered stale after the time specified e Every Sets how often stale fast fills are reported Ten minutes is the default 106 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Color Code Description Buy Sell Color code Lets supporting exchanges provide partial trade information prior to sending buy sell a confirmed fill e g Eurex supports Lets you quickly differentiate among orders Default colors are e Text color for Buy orders is blue e Text color for Sell orders is red e Confirmed fill text background is gray Enabled by default You can customize your fill colors on the Color tab Note When you enable color coding color formatting of the individual grids is disabled Only the colors you select via the Color tab apply New fills color Sets a visible indicator when a new fill appears in the Fill window Update time for new fills seconds Sets how often the indicator bar updates and displays new fills Average Price Dis Description play Nearest tick Shows average price to nearest tick settings Decimal places Shows average price display in decimals 1 7 General Description Fills alert Displays a dialog box when a fill arrives from a
416. sting Code Transaction Code Account Trade Seqt Matching Contract O Block C Market Maker Cross Guaranteed Crossing Password Asset Allocation Counter Party When you enable the Asset Allocation option the following fields appear Field Description O Trade Seq The sequence numbers of component legs that make up the Asset Allocation Matching Con The commodity code of the contract This does not include the month or the year tract Counter Party ITM of the trader for the matching half trade Password Identifies a match with the other half trade that is submitted separately For more information see the examples starting on the next page 402 X_TRADER User Manual Trading Technologies International Inc Entering Asset Allocation Orders Wholesale Trading Overview Two to three traders can enter four half trades that make up the Asset Allocation Alternatively one Trader can enter two orders to complete the Asset Allocations Half Trades Example Trader enters a half trade to Buy Product A Trader 1 fills in the Buyer section The Seller section is left blank The Matching Contract is lt Product A gt No month or year The Trade Seq is 1 The Counter Party is Trader 2 s ITM The Password is numeric Trader enters a half trade to Buy Product B Trader fills in the Buyer section The Seller section is left blank The Matching Contract is lt Pro
417. stomize various X_ TRADER windows and options Changes made to the Properties menu are specific to the user logged in This includes all workspace settings sound events and so forth MD Trading MD Display MD Color MD Advanced Quote Board Hotkeys Autospreader Trading Order Entry Fill Orders Audit Trail Sounds Color Time and Sales Spread Matrix Notes e Settings become the defaults for all new windows For your custom changes to take effect you must close and re open trading windows e If another user logs in on the same machine the property settings must be reset for that user Property Tab Names Trading Customize the trading screens to suit your trading style and environment Order Entry Customize the Order Entry and Market Grid panes of the Market window Customize fast fill notification enable or disable buy sell color coding and select default visible columns for the Fill window Customize which buttons display buy sell color coding and select default visible columns for the Order Book window Audit Trail Select viewable records enable or disable buy sell color coding and default visible columns for the Audit Trail window Associate an X_TRADER event with an audio cue Select text background and border colors Customize the Spread Matrix window to suit your trading style and environment Set the maximum file size and number of days to save time and sales information MD Trading Set trading parameters for MD
418. strators of your trading environment assign the Trader ID It uniquely iden tifies a specific trader 328 X_TRADER User Manual Trading Technologies International Inc Order Book Overview Top Pane Field Descriptions Use the top pane in the Order Book window to make changes in existing orders that have been submitted to an exchange This process is done in conjunction with the bottom pane als Bae Lie 9050 6C Limit COO4L5 Acct DS001001 v C Lock Inq Inquire TIF buttons Order Information Delete Delete All Delete All Bids Delete All Asks Changes an order This action keeps your place in the queue unless you increase the quantity or change the customer account number The results of using the Change button are dependent on the exchange Deletes an order and sends a new order to market This action loses your place in the queue The Quantity field is on the left the Price field is on the right To change click an order and enter the price and or quantity change with the keyboard or use the spinners up and down arrows Removes data from the Quantity Price and Customer fields It also can cels any changes not sent Sends an inquiry to the exchange for the status of an order A message in the Audit Trail window confirms the order information Displays Time In Force options when appropriate Example GTD GTC Note GTC orders on the same contract at the same price sort with the
419. t Grid context menu Refer to Enabling Quoting on page 231 RFQ volume Indicates the default volume for the Request for Quote option on the Market Grid context menu Hide new Hides new contracts and strategies from the Market Grid when they are contracts released This property keeps your saved Market Grids intact until you change them Avoid orders that Sends delete requests when a new order is sent that would ordinarily cross cross the working order The radio buttons determine which order is removed e Cancel resting Sends a cancel request on the working order and places the new order e Reject new Rejects the new order This property excludes Market Stop Held and Autospreader orders It also can be managed by TT User Setup administrators If the property is enabled in TT User Setup it appears checked and grayed out in X_TRADER If it is not enabled in TT User Setup you can set it as needed in X_TRADER Note Due to timing issues outside of X_TRADER an exchange may process X_TRADER User Manual 97 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 General Description x f f a new order prior to processing a delete request Show Admin Enables the Admin Alert Messages dialog box which lets you receive Alerts messages from your risk manager or an administrator Price reasonability Defines a maximum number of ticks from the last price acceptable by Mandatory for sup
420. t X_TRADER It is your main hub for accessing functional windows and setting default properties within the application To quickly display the Control Panel on top of your other windows most context menus offer a Find Control Panel option Fie Settings Window Help CHIP il E 2 ns aa warp i Note Establishing a connection to an exchange may result In a short delay before the Control Panel buttons are enabled Follow these procedures to use the Control Panel e Opening a functional window e Changing the size of the toolbar e Workspace setup e Product group setup e Spread tables setup e Customer Defaults setup e Properties setup e Adding high and low sound alerts e Starting plug ins To quickly display the Control Panel on top of your other windows most context menus offer a Find Control Panel option gt To find the Control Panel 1 Right click in one of the main X_TRADER windows to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 2 Click Find Control Panel Note If the context menu does not include this option right click a different window to access the _ context menu You successfully found the Control Panel X_TRADER User Manual 63 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Opening a Functional Window You use the Control Panel to open functional windows within X_TRADER You can open these windows u
421. t date falls within this odd first coupon period Price formatting Price formatting Customizes the price format Watch the Converted price field to see how your changes affect the price Decimal location Moves the decimal place one spot to the left or right depending on the price Max digits Determines the maximum number of digits to show Hide handle Hides the whole number in front of the decimal Retain settings Description when contract is changed Retain settings Retains new price column settings when you drag a new contract onto this when contract is window changed Example price Description conversion Example price con Lets you view the converted price based on the parameters that you select version above For this to work you must first open MD Trader with a contract X_TRADER User Manual 141 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Quote Board Tab The Quote Board tab sets properties for the Quote Board window Quote Board C Show Exchange Name as part of contract name when logged into multiple exchanges Quote Board Rows EBS Quote Board Display Net Position Number of rows 1 9 Initial Contracts Number of columns 1 9 EBS Keypad Panel keys 1 EUR USD 2 USDAIPY 3 EURAPY 4 USD CAD 5 EUR CHF 6 USD CHF Restore Defaults aay Show Exchange Name as part Displays the exchange name in the title bar of each
422. t number Order Bar to seed zero if market qty exceeds max qty Provides a confirmation step before submitting orders To use this property for a single order disable it here Then click the Confirm checkbox in the pane This box is located next to the Sell button Increases the speed at which you can submit orders by moving the mouse to the Buy or Sell button when you click the bid sell or ask buy side of a contract Works for the Order Entry pane and Order Bar Clears the Quantity field after you submit an order Note If you enable Use Default Qty and Post Trade Qty Clean Up the quantity does not clear after the order is submitted Increases the size of the Buy or Sell button in the Order Entry pane when you are about to submit a trade Sets Passive orders to automatically hit the bid or take the offer of a competing Passive order and prevent the market from locking up For the BrokerTec exchange Sets the orders you send to the market to replace previous orders for that contract on the same side of the market If this property is not enabled the default order type will be Leave and the previous orders will not be canceled Disabled by default For the BrokerTec exchange Sets a default quantity that displays for order entry Note If you enable Use Default Qty and Post Trade Qty Clean Up the quantity does not clear after the order is submitted Keeps the account number you type in the Order Entry pane until you submit
423. t order seeks out the available offsetting order and executes against it Order Buttons Order Types Assigns buttons to order types enabled in the Enable Order Types section Note The order types set up as buttons will no longer appear in the Order Type Selection menu Lets you continuously execute the same order type without having to click the order type button again The button and cursor highlight in yellow while the order type is in effect To discontinue sending the same order type click the selected button again X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Order Buttons fH j or select another order type Enable Order Description Types Enables Market Market orders cross the inside market to immediately fill Enables Stop Market Stops set the stop price for limit or market orders X_ Stop Market TRADER supports Stop orders on all exchanges Orders e A Stop Market order to buy becomes a market order when the futures contract trades or is bid at or above the Stop Price e A Stop Market order to sell becomes a market order when the futures contract trades or is offered at or below the Stop Price Enables Stop Limit Stops set the stop price for limit or market orders X_ Stop Limit TRADER supports Stop orders on all exchanges Orders ticks from stop entry price Sets the number of ticks the stop limit price is from the stop entry price Range is 0
424. tal order 8 Note If you select a percentage to disclose and then modify the order quantity the disclosed percentage remains the same while the disclosed quantity adjusts to reflect the percentage of the new order quantity Example Y ou enter an Iceberg order with quantity of 10 The disclosed quantity is 10 of the total order Therefore the disclosed quantity calculates as 1 If you change the order quantity to 20 the percentages stay at 10 and the disclosed quantity adjusts to 2 To execute click Buy or Sell You successfully placed an Iceberg order X_TRADER User Manual 295 Trading Technologies International Inc Proprietary and Confidential Information Chapter 8 If Touched 296 If Touched IT orders enter the market at a certain price or a set number of ticks away from the inside market If the market touches the price level on the order it does not have to trade through the price the order is activated If Touched can be Limit IT LIT e Market IT MIT e Market to Limit IT MTL IT Available on TOCOM and SGX Notes e Since IT orders are synthetic their use is restricted to exchanges that natively sup port them e Since TOCOM does not send a last traded price for spreads you can not enter IT orders in spreads when trading TOCOM Market Grid In the Market Grid you set IT orders on the Order Pane and designate a price the market must touch in order to send your order You can
425. te This row displays prices in the format you set up for the rest of the matrix e g net change LTP etc Qty when Hides the Quantity and only displays it when your mouse hovers over a hovering over price price LTP LTQ Displays last traded price and last traded quantity along with Ask price and quantity and Bid price and quantity Refer to Reading the Spread Matrix on page 310 X_TRADER User Manual 121 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 122 Implied When enabled prices quantities e Implied Ask prices and quantities display in dark pink e Implied Bid prices and quantities display in light blue You can customize your net change colors on the Color tab Net Change color When enabled scheme with actual e Prices that decrease display in pink ee e Prices that increase display in light green e Prices with no change display in white You can customize your net change colors on the Color tab Displays quantity and price cells in the matrix as either e Qty next to price e Qty below price Spread Matrix Show net position Displays a vertical Net Pos column before the contract Enabled by default Note By default your net position is color coded Blue is long Red is short and Gray is flat Display Outright Displays outright prices Prices e Across the top Displays a row designated by a P across the top e Along diagonal Displ
426. te best prices display Also e Working buy and sell quantities at each level reflect activity for all traders with the same Group ID e You can customize the color coded depth rows in the Color tab on the Properties menu e Click trading quantity and offset settings apply 2 Click the icon to hide the Depth feature You successfully viewed the Market Depth information 198 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Adding Price Averages and Accumulations to the Market Grid Use the Accumulation columns to take all the outstanding bids offers at the specified price or better gt To add Bid and Ask Price Averages and Accumulations to the Market Grid 1 Right click on the Market Grid to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns ene 2 Click Show Hide columns and select the BidQty Accum BidPre Avg wau AskPrc Avg and AskQty Accum columns to display these columns i 3 3 Save your workspace with Depth hidden to retain customized settings You successfully added Bid and Ask price averages and accumulations to the Market Grid Market Depth Color Coding For exchanges that support market depth X TRADER provides a coloring scheme that follows NASDAQ Level II coloring conventions All orders with the same price level are grouped with the same background color This feature contains the following charac
427. tegy in the course of your trading r Spread Tables Spread 1 Add Remove Spread Tables Setup Spread Table Days to Expiration Fog expiration between 0 and 2 days Spread 2 Follow these procedures to manage spread tables e Adding a spread table e Copying a spread table e Saving a spread table e Removing a spread table gt To access the Spread Tables dialog box 1 Ensure Quoting is enabled in the Trading tab on the Properties menu 2 From the Control Panel click the Settings menu and choose Spread Table Setup You successfully accessed the Spread Tables dialog box 82 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Adding a Spread Table gt To add a spread table 1 From the Control Panel click the Settings menu and choose Spread Table Setup The Spread Tables dialog box appears In the Add Remove Spread Tables section type a name for your table 3 Click Add The table name displays in the column to the right Click the table name you just created The fields in the Setup Spread Table section activate In the Days to Expiration column click the first cell and type the maximum number of days the first row of bids will be active for before expiring Note Use the Days to Expiration column A to set the upper boundary for any given time period For example e Entering 30 in the top cell creates a 0 to 30 day time to expiration period for the Bi
428. ter 3 Color Tab The Color tab customizes color settings for specific windows and text n X TRADER To change your color options refer to Changing Global Colors of Windows or Text on page 119 Color General Bw Sell Price Oty Decrease Price Qty Increase Price Qty Neutral 123 45 Excel Link Held Order Status OCO Orders Highlight OCO Orders Indicator Order Deleting Position Pane P L Negative osition Pane P L Positive Recert Entry Aud Trail Aleit aming Message Market Gnd Best Ask Price Highlight Best Bid Price Highlight Blank Label Row Gnd Background T ext Gnd Line Header Background T ext Maiket Depth Level 1 Market Depth Level 2 Market Depth Level 3 Market Depth Level 4 Market Depth Level 5 Background Previews Restore Maiket Depth Level 6 Market Depth Level 7 v Restore Defaults Gray with blue text Gray with red text Price Qty Decrease Price Qty Increase Price Qty Neutral Excel Link Dark Gray Held Order Status Yellow with black text OCO Orders Highlight Light Yellow OCO Orders Indicator Dark Yellow Order Deleting Position Pane P L Negative Red with white text Position Pane P L Positive Dark Green with white text 116 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview General Default Colors Audit Trail Default Colors Alert Warning Yellow with black text Message Black with white text Market Grid Default Colors Best As
429. teristics e Columns that display color when market depth is enabled include the Bid Mbr Ask Mbr Bid Ask Quantity and Bid Ask Price columns e Colors can be displayed for the aggregate market depth views e Display colors for the background and foreground text can be set using the Color tab on the Properties menu gt To enable the Market Depth color scheme 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Trading tab 3 Click to select the Use Market Depth Coloring box to enable market depth color coding You successfully enabled the Market Depth color scheme X_TRADER User Manual 199 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Managing Links to Excel You can create one or more links between the Market Grid and Excel spreadsheet You can e Link the X TRADER quoting tool to an Excel worksheet to calculate quotes using proprietary pricing models e Use Excel to calculate implied prices and quantities The response time from Excel is affected by several variables Including workstation memory CPU speed and other applications running on the workstation Example If you meet the minimum hardware requirements for X TRA DER but are running a complex theoretical quote generating program for multiple products strikes this creates a significant load on your microprocessor s which can slow the response time Consult your System Administr
430. the MD Trading tab Follow these procedures to place Stop orders in MD Trader e Enabling the Stop Market feature e Enabling the Stop Limit feature e Setting a Stop Market Order e Setting a Stop Limit Order gt To enable the Stop Market feature 1 Right click in the MD Trader window to open the context menu and click Properties 2 Click the MD Trading tab 3 Inthe Enable Order Types section click to select the Stop Market Orders option 4 To set for all subsequently opened MD Trader windows click to select Set as Global Default 5 Click OK to return to MD Trader A button labeled SM appears in MD Trader You successfully enabled the Stop Market feature 268 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview gt To enable the Stop Limit feature 1 To enable the Stop Limit feature locally right click in the MD Trader window to open the context menu and click Properties 2 Click the MD Trading tab 3 In the Enable Order Types section click to select the Stop Limit Orders option 4 If you want to set the stop limit price a set number of ticks from the stop entry price type the number of ticks in the Set Stop Limit Price field 5 To set for all subsequently opened MD Trader window click to select Set as Global Default 6 Click OK to return to MD Trader A button labeled SL appears on MD Trader You successfully enabled the Stop Limit feature gt To set a stop market ord
431. the Instruments box to the Selected Instruments box Click the Function box in the upper right corner of the Market Explorer and choose the function you want to populate with the contract Click Start You successfully populated a window from Market Explorer 46 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks gt To populate a window using drag and drop from Market Explorer 1 Ifthe window you want to populate with a contract is not open use the Control Panel to open the window 2 From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon 3 If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 4 In the Products section click the down arrow and choose your search filter 5 Type your search criteria in the available space The Instruments field updates as you type 6 From the Instrument Type box click to toggle between the displayed types 7 From the Instruments box press and hold the ctr key and click the products you want to open 8 With the cursor over one of the selected products in the Instruments box click and hold the mouse button 9 Continue holding the mouse button and drag the cursor to the open window When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a
432. the Quote column to access the context menu From this menu click Select All Calls Puts 2 Sided Mkts or Last Pre Then click Activate or Deactivate All checked boxes in the Quote column are active strikes expirations all others are deactivated Refer to Activating or Deactivating a Strike or an Expiration on page 234 for more information Ask Quote Price test quote Ask Quote Quantity test quote The above test quote columns display when you click Test Quotes or Market Quotes Market quotes display when you click Market Quotes or Send If the Market Quote columns currently display click Test Quotes to automatically change to the Test Quotes environment When these column headings display only the test quote environment appears The quantities always match those set in the product group dialog box after quote generation although they may change if you manually edit them When you send mass quotes the market quote columns defined below display However sending a single market quote maintains the test quote display provided that the test quote environment was active when the individual market quote was sent The cells for the currently sent market quote are blue to let you know that the quote hit the market 230 X_TRADER User Manual Trading Technologies International Inc Market Window Overview If the quoting bar is in Market mode the additional columns are or s os ae Sees Sa aes p c ee r j Emri m
433. the available contract months display to the right Double click a contract month to add contracts one leg at a time or Click the Add or Add All to add the contract months Edit the spread data as appropriate e Click B S to toggle between Buy and Sell e Change the Qty field per leg where permitted e To remove a leg click the number under the Leg column and click Remove Note If you are creating a strategy for SFE you must add a price to each leg in the Price column 6 Repeat steps 2 5 adding as many legs as you want 7 In the Strategy Name field type an alias Note If you leave this box blank the name will be the spread type followed by the ratio and leg expirations Click Create If the exchange accepts the strategy the spread appears in the Existing Strategies section as well as Market Explorer The Audit Trail window also displays confirmation messages If the strategy creation fails the Audit Trail window displays an error message A Successful message means the strategy is validated by the TT Gateway You successfully created a new strategy X_TRADER User Manual 241 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Adding a Strategy to the Market Window Once the exchange accepts a strategy you created the spread appears in the Existing Strategies section as well as Market Explorer You add the strategy to the Market window just like you add any
434. the entire order is canceled The Minimum Volume order type is not supported by all exchanges e g EUREX does not support gt To place a Minimum Volume order 1 From the Market Grid click the contract you wish to trade 2 Inthe Order Type field click to select MV The Min Vol field appears 3 Type the minimum volume Note You cannot send an order with a minimum volume greater than the order quantity 4 Click Buy or Sell You successfully placed a Minimum Volume order Order Cancels Order An Order Cancels Order OCO order sets two orders of the same quantity for the same contract at different price levels When one order executes the other order cancels You can use the OCO order type in MD Trader and the Order Book Notes e You cannot use OCO s in the Market Grid e If your OCO gets partially filled the second order reduces by the quantity filled in the first order e OCO orders need X_ TRADER open to work They are removed from the mar ket if you shutdown 300 X_TRADER User Manual Trading Technologies International Inc Order Types Cursor Changes TTSIM YM Sep T 8 eed When connecting two orders in an OCO relationship your cursor turns orange to match the OCO button In addition the initials of the order type appear under your cursor LIM Limit SL Stop Limit SM Stop Market 11521 Strategy Types ra When you select OCO from the MD Trading tab you f 11619 select the strateg
435. the spread between the two months By calculating and displaying implied prices and quantities exchanges found they could improve the best Bid Ask price or add liquidity to certain contracts or strategies Note Implied data does not display for Condor Matrices because LIFFE does not match implieds from Condor Matrices gt To set implieds 1 From the Control Panel click the Settings menu and choose Properties 2 On the Trading tab click to select the options you want e Include Implieds in Market columns and in Depth Exchange calculated implieds e Calculate Implieds instead of Exchange Implieds X_TRADER calculated implieds 3 Click OK You successfully set implieds X_TRADER User Manual 225 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Viewing Implieds 226 The Include Implieds in Market columns and in Depth property on the Trading tab lets you determine whether or not implied prices and quantities appear in the same columns as outright prices and quantities Example 1 When this property is enabled the Imp AskPre and Imp AskQty columns reflect the same data in the AskPre and AskQty columns 7476 7472 2 O Ss Gss 7275 11700 10 0 S Example 2 When this property is disabled the prices and quantities report separately in their respective columns Assuming two of the total ask quantities are implieds separating sear from E appear like this
436. tial Information Chapter 7 Displaying the Mid Point of Inside Market To make it easier to identify the mid point of the inside market MD Trader places a bold line across the width of its grid see the cursor below Here are some rules for mid point placement e The mid point line appears midway between the best bid and best offer in the market e If there is a one sided market the mid point line appears directly above or below the best bid or offer in the market respectively e If there is no market then the line appears at the last trade price e Ifthe number of price rows or ticks between the best bid and best offer is an odd number then the mid point line appears in the upper cell of the middle value e Ifthe number of price rows is an even value or zero then the mid point appears between the middle values gt To display the mid point of the inside market 1 Open MD Trader Right click anywhere in MD Trader and click Properties Click the MD Display tab Click to select the Highlight Midpoint of Last Recenter option To set for all subsequently opened MD Trader windows click to select Set as Global Default Click OK ON a P IBS You successfully displayed the mid point of the inside market Keeping MD Trader on Top MD Trader has a property in the MD Display tab that serves to keep the MD Trader always on top of other X_TRADER windows on the desktop gt To enable the on top feature 1 Open MD Trader
437. tiate a trade at a set price The X_TRADER screen flashes and only that price can be traded Once all available size at that price is traded the screen stops flashing indicating the market is idle You or another trader can then initiate another trade at a set price Note The amount of time a workup price flashes is controlled by Brokertec and based on their current workup parameters Flashing Quantity and Price during Workup During workup the Price and Quantity fields change color and flash in MD Trader the Market Grid Quote Board and Autotrader Flashing characteristics change depending on which functional window you are in MD Trader Price column H appears to the left of the price for a sell workup Price column T appears to the left of the price for a buy workup MD Trader Border Highlights and flashes green for a buy workup Entire MD Trader Border Highlights and flashes red for a sell workup Market Grid Column Flashes red when a sell initiates the workup The letters TAK replace the price when being bought Flashes green when a buy initiates the workup The letters HIT replace the price when being sold Flashes purple when you are the workup owner and take the offer using the WrkBuys quantity WrkSells Flashes purple when you are the workup owner and hit the offer using the WrkSells quantity Title Bar Labels Owner to the right of the product name when you are the workup owner Quote Board Fiela Shades and fl
438. ting workspace X_TRADER User Manual 73 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Product Group Information Setup Product groups let you define how the bid ask values are calculated Enter product group information in the top pane of the Product Group Information dialog box specifying the quote type spread table delete time account and other parameters Once you add the group to the grid you can associate products to the product group Product Group Information Enter a Product Group Name Prod Quote Spread Restriction Delete Tima Bid Ask Spread Mariam Auto AutoQuete Cleatng Account Type Table Secs Oty Oly Type Spread Quote Delay Secs Member Join w Spread Delte 3 50 1 On Git ORSTU ut v Minimum Auto Cunte Cleasir Spread 2 wo Quote Memb Spread 1 GTC Spread 2 GTC Follow these procedures to manage product groups e Adding a product group e Changing a product group e Deleting a product group e Associating a product to a product group e Disassociating a product from a product group gt To access the Product Group Information dialog box 1 Ensure Quoting is enabled in the Trading tab on the Properties 2 From the Control Panel click the Settings menu and choose Product Group Information You successfully accessed the Product Group Information dialog box 74 X_TRADER User Manual Trading Technologies International Inc Con
439. tion e Flex Options Flex Options are only available on LIFFE FLEX orders are essentially FTSE 100 options However an expiration day and exercise price can be specified The trade submission and authorization is semi automated requiring manual inter vention by an exchange official X_TRADER User Manual 197 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Using the Market Depth Feature The Depth layout option in the Market Grid context menu shows the aggregate market depth data for all orders at the same price level You can configure the number of additional rows the Depth layout provides using the Market Depth Increment field in the Trading tab on the Properties menu Not all exchanges provide market depth data Contract This layout can be used in tandem with the Implieds pricing feature Refer to Setting Implieds on page 225 Follow these procedures to use the Market Depth feature e Enabling the Market Depth feature e Viewing the Market Depth information gt To enable the Market Depth feature 1 In the Market Grid right click a cell to access the context menu and click Layouts 2 Click Depth to enable the feature The icon displays in the Market Grid You successfully enabled the Market Depth feature gt To view the Market Depth information 1 Click the icon after each contract identifier to display the Depth feature Notes When open the aggrega
440. tional Inc CHAPTER 16 Trading Specialty Exchanges X_TRADER lets you connect to and trade on many different exchanges Depending on which exchanges you trade certain screens in X TRADER may appear differently and offer unique options This section covers the unique options available when trading the following exchanges e Brokertec EBS e Intercontinental Exchange ICE e Sydney Futures Exchange SFE e TOCOM X_TRADER User Manual 405 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 Trading BrokerTec Because of the unique nature of the BrokerTec market X_TRADER changes when it interacts with BrokerTec products These changes affect the following e Tradable Products e Order Types e Pricing Notations e Pricing Format e Market Grid e MD Trader e Excel Links e Autotrader e Autospreader e Click Trading In addition the BrokerTec exchange adds functionality to X_TRADER that does not exist for other exchanges Refer to Unique Functionality in BrokerTec on page 409 Tradable Products BrokerTec supports the following products e 2 year Actives On the runs and When Issued e 3 year Actives On the runs and When Issued e 5 year Actives On the runs and When Issued e 10 year Actives On the runs and When Issued e 30 year Actives On the runs and When Issued Order Types The following order types are available when trading BrokerTec Orders sent with any other o
441. tire row or column Note Press and hold the crrt key and continue clicking rows or columns to select multiple rows or columns Then release the crru key 2 Click and hold the mouse button on the header and drag the row s or column s to its new position A red line appears to indicate where the column or row will be dropped 3 Release the mouse button 4 To retain these settings save your workspace You successfully moved rows or columns Hiding Rows or Columns Follow these procedures to hide rows or columns e Hiding selected rows or columns using the context menu e Hiding unselected rows or columns using the context menu e Hiding a row or column by manually sliding it closed e Hiding multiple rows or columns by sliding them closed gt To hide selected rows or columns using the context menu 1 Click the row or column heading to select the entire row or column 2 Press and hold the crru key and continue clicking rows or columns to select multiple rows or col umns Then release the cra key 3 Right click a grid cell to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 4 Click Hide Row s or Hide Column s 5 To retain these settings save your workspace You successfully hidden selected rows or columns gt To hide unselected rows or columns using the context menu 1 Right click a grid cell to access the context menu Note If Click Trading is enabled do not click
442. tivated Autospreader and Autotrader work as long as the license remains current and you continue to log into the host machine with the same user name If you upgrade to a different version of X_TRADER you must re activate the license gt To activate an X_TRADER Pro license 1 2 3 Have your TT representative enable the X TRADER Pro option Open X_ TRADER from the desktop icon and log onto an exchange From the Control Panel click the Settings menu and choose X_ TRA DER Pro A prompt appears telling you to close X_TRADER and restart it to access X TRA DER Pro 4 ExitX TRADER 5 Open X_TRADER from the desktop icon and log into an exchange The X TRADER Pro license Is now activated and you can access Autotrader and or Autospreader You successfully activated an X TRADER Pro license 38 X_TRADER User Manual Trading Technologies International Inc Getting Started Creating a Customer Profile Define a Customer Defaults profile to establish all of the most common order variables by customer name Customer Defaults can be set by an administrator using TT User Setup If you cannot change your Customer Defaults an administrator may need to make changes for you Refer to TTUS Integration with Customer Defaults on page 86 f Customer Defaults all m DER v CME eCBOT ZB SPREAD Note You can immediately trade with the lt Default gt profile as long as you set up an account in its row gt To defi
443. to display your fills However if you place an order using an account mapped to a TTORD ID you are not logged in under you will not receive the fill alert 5 Click OK You successfully enabled the Fills Alert dialog box X_TRADER User Manual 349 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 Fills Pane Overview 350 The Fills pane reflects the exchange confirmed data about a trade The Fills pane includes the Fill Type and Type columns to allow you to filter on your spread positions and view your spread legs separately from outright trades TT_Fill 3 als l i EAA EIER Time Product Contract Account Exch Time s 1 B 3 s 3 B 3 s 3 B 3 s 3 B 3 s 3 Refer to the following for more information e Fills Pane Grid Summary on page 351 e Position Pane Grid Summary on page 355 X_TRADER delivers fill information immediately upon receipt from the exchange Exchanges provide the information in different ways For example some exchanges send fill information via their back office feed Therefore problems may arise due to the following e Trade confirmations may not be sent immediately or may not be received from the exchange e Guaranteed fills provided by back office feeds which are typically delayed ten seconds can be delayed a few minutes The length of the delay varies due to exchange trading volume fluc tuations and product state changes e g the cl
444. ton and skip to step 7 7 Click the gt button to transfer the products from the Instruments box to the Selected Instruments box 8 Click the Function box in the upper right corner of the Market Explorer and choose Time and Sales 9 Click Start The name of the product appears displaying its associated information Exchange Price Quantity and Time In addition the lower left corner of the Time and Sales window describes the status of the drag and drop Added contract information You successfully populated the Time and Sales window from Market Explorer X_TRADER User Manual 373 Trading Technologies International Inc Proprietary and Confidential Information Chapter 14 gt To populate a window using drag and drop from Market Explorer 1 2 If the Time and Sales window is not open use the Control Panel to open it From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon If you are logged into more than one exchange in the Exchanges box click the exchange whose product you want to find 4 In the Products section click the down arrow and choose your search filter 5 Type your search criteria in the available space 10 The Instruments field updates as you type From the Instrument Type box click to toggle between the displayed types From the Instruments box press and hold the crRr key and click the products you want to
445. trip type yield a base settlement is added to the instrument price before the Eurodollar con version Calculation for the exchange traded Strip Pack or Bundle 100000 Price 1000 30 Day Fed Fund The yield is calculated by subtracting the instrument price from 100000 and dividing the result by 1000 Convert to 365 day year Converts 360 days to 365 days Strip base Average settlement price of the contracts in an exchange traded X_TRADER User Manual 139 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Display Price As Description Yield Strip Pack or Bundle The Strip Base is added to the instrument price before the conversion Display Options for this field include e Yield To Maturity Displays price based on the rate of return if held until the maturity date An algorithm calculates the price accurate to six decimal places e Custom pricing model A pricing model you created and activated All other fields are required unless otherwise noted e Coupon rate Annual interest rate as a decimal Must be greater than 0 1 and less than 100 00 and accurate to 4 digits Maturity date The date of the bond Must be greater than the set tlement date and greater than today Conversion factor Not required The factor by which the futures price will be multiplied if the specified bond is delivered against it Must be greater than 0 1 and less than 5 0 and accurate
446. trol Panel Overview Product Group Information Field Column Descriptions The fields in the Product Group Information dialog box are defined as follows Field Description Product Sets the name of the product group Group Name Quote Type Sets the type of quote received Dime A tick better on both bid and ask Join Current price of both bid and ask Mkt Ave The average between bid and ask is the mid point for calculating the spread The Maximum or Percent spread type is divided by 2 This fig ure is added and subtracted from the Market Average to define the upper and lower limits Theo Similar to the Mkt Ave except the theoretical price is used as the mid point for calculating the spread Theo Bid Ask Current theoretical bid and ask Associates the product group with a pre defined spread table for time price and spread limits Choose any spread table from theb list Restriction Sets the time restriction e Delete delete the quote after a specified number of seconds Delete Time Sets the number of seconds the quote remains in the market if you choose Delete Secs in the Restriction field The minimum time for EUREX is 20 seconds Sets the bid quantity to be quoted The minimum quantity for EUREX is 50 Sets the ask quantity to be quoted The minimum quantity for EUREX is 50 Spread Type Sets the spread type e Maximum The spread defined in the spread table is used to generate the quote If the c
447. tting the bid join the bid join the offer loading the net position sending a market order setting the limit price sweeping the market X_TRADER User Manual 292 292 294 294 294 294 296 291 225 227 228 227 225 200 200 228 443 276 138 292 296 266 253 223 416 222 345 279 284 281 210 279 289 289 285 288 288 282 284 285 285 287 288 289 286 286 286 287 Index Iceberg Manual Fills taking the offer trading in the market grid L Laser Line example Leave checkbox Legal notices License LIFFE Wholesale Trading against actuals audit trail messages basis block euronext and guaranteed crossing exchange for swaps flex options strategy trades trading types Limit If Touched Limit on Close Limit on Open Limit to Market LIT Live only contracts Live only LOC Local bids in EBS Local MD Trader Properties Locking windows Logging in exchange exchange without logging out with different ID LOO LTM Making a trade Managing a Startup Workspace Managing Quote Board Properties Managing TradeSounds Manual conventions Manual Fills adding deleting field descriptions saving Trading Technologies International Inc Proprietary and Confidential Information 292 292 287 222 277 277 413 38 381 389 381 386 383 401 392 395 399 382 296 291 291 291 296 204 204 292 424 260 48 30 34 30 34 Making a Block or Volatility Order Inq
448. ty Right click AskPrc or AskQty Bid Prc or BidQty The mouse immediately moves to the Buy or Sell button and depending on what you click either the price or the quantity is highlighted Click the Buy or Sell button to place an order at the given price with the given quantity or Type over the highlighted values and adjust the parameters of the order before clicking the Buy or Sell button You successfully quick click traded gt To set an order confirmation Click the Lock checkbox at the end of the Order Bar to enable a confirmation screen before orders are sent to the market You successfully set an order confirmation 208 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Modifying an Order with the Order Bar You can enable the Floating Order Entry on the context menu and use the Floating Order Entry to cancel replace an order When the Floating Order Entry window is the Order Bar you can use the keyboard to launch the Order Bar and modify your order gt To modify an order with the Order Bar 1 From the Control Panel click the Settings menu and choose Properties 2 On the Trading tab in the Floating Order Entry property click to select Order Bar 3 Right click the Order Book and click to select Floating Order Entry You can now call the Order Bar using the mouse or keyboard hotkeys 4 Navigate to the order you want to modify and press F5 Note You c
449. ty field after each trade with the value entered in this field Quantity Flags your next order as a Stop Limit or Stop Market order Access the MD Trader Properties menu from the context menu to add more order type buttons Del All Deletes all working held and stop orders for this series of contracts This feature behaves differently for an exchange trader versus a proxy TTORD trader e Ifan exchange trader uses this feature all working for that contract for all spon sored proxy traders are deleted e Ifa TTORD trader attempts to use this feature it converts one message into to multiple individual delete requests by the client application to prevent a trader from deleting the exchange trader s working orders for that contract Delete n red Deletes working sells indicating the number of working sells Delete n blue Deletes working buys indicating the number of working buys Price Con Consolidates price depth in the Price column Slide it to the right to consolidate price solidation levels Slide it to the left to flatten your price depth Trade Out Flattens your position Refer to Trading Out of a Position on page 270 When you use the Trade Out button MD Trader deletes all working orders on both sides of the market and sends an order that removes you from your position long or short regardless of your credit limit Working Quan Displays all working quantities W and executions S or B for an order tit
450. u They cannot be altered with the Formatting window X_TRADER User Manual 55 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 gt To change grid text and background colors 1 Ifyou want to apply the same text and background colors to the entire grid for all windows select the window area you want to change or click the top left hand column heading to select the entire grid 2 Right click in the window to access the context menu Note If Click Trading is enabled do not click in the Bid Ask price columns 3 Click Formatting The Grid Styles dialog box appears 4 Click the Color tab Text colors display in the left palette Background colors display in the right palette Formatting Font Other DJ 5 Click a color in the displayed palette or click Other to see additional colors You can also create cus tom colors The color preview window displays the specified colors 6 Click OK to exit 7 To retain these changes save your workspace You successfully changed grid text and background colors 56 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks Formatting Grids X_TRADER includes a number of useful methods for customizing its look and feel You can customize your windows and save them in a workspace so that each time you launch X_TRADER you open the workspace and avoid having to customize each
451. u and choose Properties 2 Click the Quote Board tab You successfully accessed the Quote Board tab Quote Board Color Properties Customize colors for the Quote Board in the Color tab on the Properties menu The color properties are Property Default Colors Background Light Green Barometer Bottom Barometer LTP Barometer Top Black text P L Negative P L Positive Dark Green text Position Flat Black text Position Long Blue text Position Short Price Data Negative Price Data Positive Dark Green text Price Data Unchanged Black text 324 X_TRADER User Manual Trading Technologies International Inc Quote Board Overview Using a Floating Order Entry in Quote Board gt To use a Floating Order Entry pane in the Quote Board 1 Populate Quote Board 2 Right click a contract on the Quote Board and choose Floating Order Entry The Floating Order Entry option is enabled and a Floating Order Entry pane appears 3 Click any other contract on the Quote Board to populate the Floating Order Entry pane You successfully used the Floating Order Entry pane in the Quote Board Using the Quote Board Context Menu Right click the Quote Board to access the context menu The available menu options include e Find Control Panel Displays the Control Panel Find Control Panel e Floating Order Entry Displays an Order Entry dialog box Floating Order Entry for any contract you click MD Trader e MD Trader Displays an MD
452. u ate ae in a eS SEL pte AAS et EN 301 Placine a J CO Ord ersos co ihe aonb puan ed kay seu oe Be elo pu au AS Geeta Le yaa as Sh Lee nae is angie 302 SLOP ORDERS 4 5 5 0 awh Ue Bian REE Sones OS Ele Mins Oh Se ole ek cet tee 11 Cache Sane S DAN X See maa 303 Stop Ing ger Rules oo nuyu eh en aed e ge pot de ig aed eee eee 303 Tnivalid a TOSA ESA S sce ti ee i ler eatin a ene tera asss ls Nn ala areal tena bth eT 303 Placing Stop Orders cvcnnt ies Side ned 7 Sie ht A Ce Sh ese ih Ra See 304 TRAILING SHOPS va oe nett anh NU ioe he ee doy On dk Z E NT Ont te wey a ne In et Ay C Sa a 305 Trailing StopsSsellu z iL eek IESS noes wa SS neue deseo Ube pass Tu euise oe E AS 305 Pravlin e SIOpEBDyz az nayana eh aaa uyasha tulae tan dooce vee sess aknatan asua ue ite eas akun angen odes 305 Trailing Stop Limit Orders 2 0 00200222 c cece cece osos cece cece a EEEE a a EOE 305 SQA PIELDS a tag Wu Sa a a aaa Gt pa Ae kp cee ka ett A Coad had atc he 2 leachate bit os 305 SPREAD M ATRIX O VERVIEW 307 X_TRADER User Manual Trading Technologies International Inc Proprietary and Confidential Information Table of Contents Xx xxx a a ae a EE xx a GENERATING ASPREADMATRIX ss s i it LL 308 CUSTOMIZING THE SPREADMATRIX ss ss ss s s i i LLL 309 READING THE SPREAD MATRIX 5 505459 208 by ananas alls tite MUA PIPED OE ULL AED cue AA ee aiio 310 TRADING WITH THE SPREAD MATRIX 311 CHANGING A W
453. u cc OPTION n lt CHE 6E A STRATEGY 6E SEP0S amp EE DEC08 6E MAROS amp 6E JUN0S amp 6E SEP09 5 6E DECOS e Rire v There are 1056 products Follow these procedures to use the Market Explorer window e Searching for a product e Renaming Contracts e Opening and populating a functional window gt To open the Market Explorer From the Control Panel click the Window menu and choose Market Explorer Or From the Control Panel click the icon You successfully opened the Market Explorer X_TRADER User Manual 163 Trading Technologies International Inc Proprietary and Confidential Information Chapter 5 Market Explorer Field Descriptions The fields in the Market Explorer window include Field Descriptions S Products Search Descriptions Exchanges Products Type Box Products Box Transfer Buttons gt gt gt lt lt lt Selected Instruments Box Function Box MD Trader Market Grid MD Trader Quote Board Spread Matrix Time And Sales Alerts Manager Autospreader Autotrader Default Chart Start button Advanced button Offers a choice of filter criteria You then enter a product name description or alias to search for Searches the alias and description fields for each product in addition to the product s name from the gateway This lets you query based on the popular names of products in addition to their more cryptic gateway version
454. u must enable the Auto Mouse Move property e Use hotkeys to make trades Another advantage to the Order Bar is its easy inter action with the keyboard Use the default hotkeys or customize them to create your own Order Bar Procedures Follow these procedures to use the Order Bar e Enabling the Order Bar e Quick click Trading e Setting an order confirmation gt To enable the Order Bar 1 From the Control Panel click the Settings menu and choose Properties 2 On the Trading tab in the Floating Order Entry property click to select Order Bar 3 Right click the Market Grid Order Book Autotrader Spread Matrix or Quote Board and click to select Floating Order Entry You can now call the Order Bar using the mouse or keyboard hotkeys You successfully enabled the Order Bar X_TRADER User Manual 207 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 gt To quick click trade 1 2 3 4 5 From the Control Panel click the Settings menu and choose Properties Click the Order Entry tab Click to select the Auto Mouse Move property Click OK From the Market Grid call the Buy Order Bar or Sell Order Bar using the following Note If click trading is also enabled the click trading right mouse actions take precedence Disable click trading using the Market Grid context menu When enabled ToB mosol Left click Bid Prc or BidQty AskPrc or AskQ
455. u want to generate a Spread Matrix Note To select multiple contracts press and hold the crri key and continue clicking contracts Or To select any successive contracts in a row click and drag the cursor over the contracts to highlight them Right click to access the context menu and click Spread Matrix The Spread Matrix appears The month selected from the Market Grid displays as the first month in the Spread Matrix Right click the Spread Matrix highlight Spread Display and click Butterfly to view the Butterfly Condor Matrix You successfully generated a Spread Matrix using the Market Grid context menu Customizing the Spread Matrix The Spread Matrix window is customizable so you can easily identify trade data Customize and format Spread Matrices using the e Window tabs Replace many spread matrix windows in your workspace with one tabbed window e Context menu Choose how to display prices price type and format your fonts e Spread Matrix tab Customize how Spread Matrix looks and acts using the Spread Matrix tab on the Properties menu e Trading tab Set the following properties e Color Top of Book e Highlight Own Orders e Minimum Highlighting Mode e Color tab Customize under the Spread Matrix section X_TRADER User Manual 309 Trading Technologies International Inc Proprietary and Confidential Information Chapter 9 Reading the Spread Matrix The graphic below identifies s
456. ual order 40 X_TRADER User Manual Trading Technologies International Inc Getting Started Order Messages in the Audit Trail The Audit Trail window displays messages regarding your actions and exchange announcements AuditTrail ggg TER rine T enen T statue neo eton mr ou prouet consan timit Tsup Pee ype T TE E al a ee dor deeted Three messages appear for successful Buy blue text or Sell red text orders e The first message provides order details including the time the order was sent from the work station Time column to the TT Gateway i e server an order status of Accept and an action of Add e The second message immediately follows the first and indicates acceptance by the TT Gate way The order has been routed to the exchange trading host e The third message displays sometime after the previous two This message is the confirmation received from the exchange s trading host The information detailed includes the time the con firmation was received by the workstation Time column an order status OK and the time the confirmation was sent by the exchange s host machine Exch Time column When the order fills the fill notification message displays a status of OK and an action of Fill X_TRADER User Manual 41 Trading Technologies International Inc Proprietary and Confidential Information Chapter 1 Exiting X_TRADER Exit X_TRADER at the end of each trading sess
457. uccessfully recreated a strategy X_TRADER User Manual 243 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 Amending a Strategy You can change your existing strategies and either replace them or create a new strategy based on an existing one gt To change an existing strategy 1 2 From the Control Panel click the Icon In the Existing Strategies section click the name of an existing strategy The attributes of the strategy appear and are editable Change the attributes including the designated legs as needed 4 If you want to preserve the old strategy change the Strategy Name field X or If you want to replace the existing strategy do not change the Strategy Name field Click Create You successfully changed an existing strategy Deleting an Existing Strategy gt To delete an existing strategy 1 2 3 Right click the Market Grid to access the context menu and click Create Strategy or From the Control Panel click the Window menu and choose Create Strategy Or From the Control Panel click the icon The Create Strategy dialog box opens From the Existing Strategies section click the name of strategy The legs of the selected spread name display Click Delete You successfully deleted an existing strategy 244 X_TRADER User Manual Trading Technologies International Inc CHAPTER 7 MD Trader Overvi
458. uiry 449 292 292 221 180 72 324 129 25 359 360 362 360 362 Index Market based customer defaults MD Trader Market based customer defaults 91 Market Depth 198 color coding 199 enable 198 Market Explorer 163 advanced field descriptions 165 field descriptions 164 opening a window 168 populating a window 168 renaming contracts 167 searching for a product 166 Market Grid 186 adding price averages and accumulations to 199 context menu 190 customize columns 186 establishing a link for theoretical and implied pricing200 field descriptions 187 floating depth window 205 generating an rtd formula 202 highlighting in 196 opening wholesale orders 197 price trend indicators 197 quoting additions to the market grid pane 229 spacer rows 195 tabbed grids 193 using excel for theoretical and implied pricing 200 using the market depth feature 198 Market If Touched 292 296 Market Limit Market 103 127 291 Market On Close 292 298 Market On Open 292 297 Market order 297 Market to Limit 292 299 Market Window 171 butterfly condor matrix 316 click trading 215 cross trading 212 eurex block trading 218 implied prices and quantities 225 market grid 186 order change dialog box 224 order entry pane 172 order types and restrictions 291 quoting overview 229 spread matrix 307 spread strategies 239 Match Price 358 MD Advanced tab 138 264 MD Color tab 135 MD Display tab 131 MD Trader 245 adding sound 273 adding t
459. ult colors are white text on a black background Click the Exchanges button to select which exchanges from whom you want X_TRADER User Manual 111 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 Messages Description to view INFO messages Show ERROR mes Shows error messages like ORDER HAS BEEN REJECTED sages Enabled by default The default colors for are white text on black background Show ALERT mes Shows alert messages like FILL SERVER IS DOWN sages Enabled by default When enabled the default colors are black text on a yellow background You can customize your Alert Warning colors on the Color tab Audit Trail Col Description umns Audit Trail Col Lets you select the default visible Audit Trail window columns umns 112 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Sounds Tab The Sounds tab sets audio notifications for specific events if your workstation is equipped with a sound card and speakers and the appropriate drivers are installed Events Associated Sounds Buy None gt Sel lt None gt Ful Fil Buy None gt Ful Fil Sel lt None gt Partial Fill Buy lt None gt Partial Fill Sell None gt FFil lt None gt Tradable AFO None gt Indicative RFQ lt None gt Reect lt None gt Erce None gt LOick lt None gt AClick None gt Alert Waming lt None gt Exch Announce lt No
460. umn Displays current market offers implied offer outright prices implied offer spread prices and implied from implied offer values When you enable Keyboard Trading a colored cursor appears in the Sell column indicating the current price level for an order Refer to Enabling Keyboard Trading in MD Trader on page 282 Ask Indicator Indicates price settings when you enable the Ask indicator column property con You may paste a value in the column from a spreadsheet The value of the spreadsheet appears in a white box Last Traded Indicates the last traded quantity at that price Also you can configure this column to Quantity Col display Volume by Price in bar text or tool tip format Refer to MD Display Tab on umn page 131 Additional Description Fields Scroll Bar Indicates orders exist above or below what is visible in the window Use a mouse to scroll up or down MD Trader Market Mid Designates the midpoint of the inside market with a bold black line Refer to Displaying Point Bar the Mid Point of Inside Market on page 266 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview MD Trader Features Some MD Trader features include View in small mode Keep all the functionality but take up less space on your desktop Refer to Displaying a Small MD Trader on page 265 Set so all floating order entry windows launched in the Market Grid Spread Matrix Butterfly Condor Matrix A
461. und color Gray Working Sell Text Red Font Working Buy Blue Font Executed Sell Blue Font Executed Buy Red Font Background color Red or Green depending on position Short Position Red Font Long Position Green Font Foreground color Blue Font Color White Foreground color Red Font Color Black Foreground color Gray Trade at decreased price Red Font Trade at increased price Green Font Trade at same price White Font You can customize many colors using the MD Color tab on the Properties menu Among the colors you can customize include e LTP Up Down or Unchanged e Net Change Up Down or Unchanged e Net Position Flat Long or Short e Buy and Sell side columns e Working Buys or Sells e Best Bid and or Ask e Average Price of Long and or Short Position X_TRADER User Manual 259 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Setting MD Trader Properties You set properties for your local MD Trader window from the MD Properties menu accessed from the context menu Note The Set as Global Default checkbox at the bottom of each tab applies properties to all subsequently opened MD Trader windows Alternatively you can set global properties via the Settings menu on the Control Panel MD Properties MD Trading MD Display MD Color MD Advanced MD Trading Set trading parameters for MD Trader including maximum order quantity
462. up The Product Group Information dialog box appears 2 In the Product Group Name field enter your product group name 3 In the Quote Type field click one of the following e Dime A tick better on both bid and ask e Join Current price of both bid and ask e Mkt Ave The average between bid and ask is the mid point for calculating the spread The Maximum or Percent spread is divided by 2 This figure is added and subtracted from the Mar ket Average to define the upper and lower limits e Theo Similar to the Mkt Ave except the theoretical price is used as the mid point for cal culating the spread e Theo Bid Ask Current theoretical bid and ask 4 In the Spread Table field associate the product group with a pre defined Spread Table for time price and spread limits 5 In the Restriction field set the quote to either be deleted after a specified number of seconds or GTC 6 In the Delete Time field if you chose the Delete Restriction set the number of seconds the quote remains in the market before it is deleted The minimum time for EUREX is 20 seconds 7 In the Bid Qty field specify the bid quantity to be quoted The minimum quantity for EUREX is 50 8 In the Ask Qty field specify the ask quantity to be quoted The minimum quantity for EUREX is 50 9 In the Spread Type field click one of the following Note This field is not applicable for Dime Join and Theo Bid Ask quote types e Maximum The spread defined
463. urs If you share an order book and this property is not checked you will hear fill sounds for traders who share your order book Button Description Lets you listen to the highlighted sound gt To access the Sounds tab 1 From the Control Panel click the Settings menu and choose Properties 2 Click the Sounds tab You successfully accessed the Sounds tab Suggestions Keep these points in mind when managing your sound files e Copy sound files from another source for example WINNT Media directory to the lt root drive gt tt x_trader Sounds directory e Keep sound files short in duration Longer files cannot keep up with near simul taneous events For example when performing a cross trade with sounds assigned to buy and sell events the first sound is either cut off or unheard because the buy and sell events are closely timed Contract High and Low Sounds You can add sounds for a contract s high and low price threshold for the day Whenever a contract trades above the high price or below the lowest price these sounds are played Assign different sounds for the high and low on the same contract as well as different sounds for different contracts Manage adding sounds for high and low prices in the Alerts Manager dialog box 114 X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Adding an Event Sound gt To add an event sound to a given event 1 Fro
464. utotrader or Quote Board are MD Trader windows Refer to Using Float ing Order Entry on page 176 to enable Rename the window using the titlebar context menu Continually send Good to Cancel orders by enabling the GTC checkbox Refer to MD Trader Field Descriptions on page 246 Globally recenter all windows using the Recentering properties When you recenter one MD Trader window all open MD Trader windows recenter as well Refer to MD Display Tab on page 131 Customize color coding mouse wheel behavior and sound notifications Designate a second default quantity for your right click trading Other options MD Trader displays include Implied prices and quantities Daily high and low trades Contract s price range Volume by price bar chart or text Your customer profiles Time and sales for quick view of recent price quantity and time transaction details Refer to Adding Time and Sales on page 274 X_TRADER User Manual 249 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 Populating MD Trader Follow these procedures to populate MD Trader with contracts e Populating MD Trader from Market Explorer e Populating MD Trader using drag and drop from Market Explorer e Populating MD Trader using drag and drop from the Market Grid e Populating MD Trader using the Market Grid context menu gt To populate MD Trader from Market Explorer 1 From the Control Panel click th
465. vailable credit e The Dealable Regular Bid and Offer indicates the worst price you will fill at if you trade the normal quantity The normal quantity is decided per contract by EBS Example In the screenshot above if the EBS defined quantity was 25 you would need to trade at 97 424 X_TRADER User Manual Trading Technologies International Inc Trading Specialty Exchanges e The Dealable Best is the best price at which you can trade The next tick away from the market plus 1 for Sells minus 1 for Buys can show a zero 0 For some products EBS reports this quantity even if it is zero e The outside Bid and Offer is the net or aggregate of the preceding Bids and Offers e The EBS property on the Trading tab determines whether the outside quantity includes the viewable quantities at the first two tradable prices Aggregate includes Net does not include e The plus means the quantity is greater than or equal to the threshold for the product The threshold is determined by EBS e When local orders placed by other members of your trading firm are included in a working quantity the quantity is identified with swapped text and background colors KL X_TRADER User Manual 425 Trading Technologies International Inc Proprietary and Confidential Information Chapter 16 EBS Contract Notes The following notes are specific to EBS e Spot FX settles two days in the future Precious Metals are phys
466. ver Floating Order Entry Order Pane v Note Your Floating Depth Window launch Ps E method must be different from your Floating Order Book launch method 3 Click OK 4 In the Market Grid and Spread Matrix windows right click to access the context menu Find Control Panel Find Control Panel Click Trade Click Trade v Floating Depth Orderly try gt Layouts gt v Floating Depth MD Trl er Chart Market Grid context menu Spread Matrix context menu 5 Click to enable Floating Depth A checkmark indicates Floating Depth is enabled You successfully set up the Floating Depth Window X_TRADER User Manual 205 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 gt To trade with the Floating Depth Window 1 In the Market Grid or Spread Matrix window put your cursor over a price or quantity field for a con tract you want to trade Note These cells include BidQty BidPrc AskPrc AskQty LastPrc LastQty ImpBidQty ImpBidPre ImpAskPre ImpAskQty 2 Launch the Floating Depth Window according to the property you set in the Trading tab on the Properties menu EPIO Buys _Maro9 14084 0 140720 14082 0 L Juno9 4083 0 14058 0 4140630 Sep 14073 0 Mario 3 Click the row at the price you want to trade Your Order Entry window seeds with the contract and price you clicked 4 Adjust your quantity 5 Adjust your Time in Force options 6
467. w Hide Series Lets you select which contracts to show e Price Type Displays prices as Best default Implied or Direct e Display Prices Displays Spread Matrix prices as Net Change versus actual prices and institutes a new color scheme e Negative prices display in pink e Positive prices display in light green e Prices with no change display in white e Formatting Lets you customize fonts and borders e Undo Formatting Returns formatting to the default X_TRADER User Manual Find Control Panel Click Trade Floating Depth MD Trader Chart Show Hide Series Price Type Display Prices Formatting Undo Formatting 315 Trading Technologies International Inc Proprietary and Confidential Information Chapter 9 Butterfly Condor Matrix Overview A Butterfly is a trading strategy that involves the following trades e Buy or Sell of one contract in near Calendar month e Sell or Buy of 2 contracts in a far month e Buy or Sell of one contract in an even later month The combined price of the two contracts being sold bought subtracts from the combined price of the two contracts being bought sold A Condor is a trading strategy that involves the following trades e Buy or Sell of one contract month in the first month of the strategy e Sell or Buy of one contract in a far month e Sell or Buy of one contract in a further month e Buy or Sell of one contract in an even later mont
468. w often the indicator bar updates and displays new orders X_TRADER User Manual 109 Trading Technologies International Inc Proprietary and Confidential Information Chapter 3 110 Order Book But Description tons Order Book Places trading buttons on the Order Book Buttons Your options are e Change Changes an order without losing your place in the queue e Cancel Replace Replaces an existing order e Delete All Bids Asks Deletes orders e Go To Market Sends orders for immediate fill Original Description Qty Work Qty Original Qty Work When you highlight a row in the Order Book the quantity field displays e Original Quantity Just the order s original quantity regardless of par tial fills e Work Quantity The current working quantity of the order taking par tial fills into consideration Order Book Col Description umns Order Book Lets you select the default visible columns for the Order Book window Columns X_TRADER User Manual Trading Technologies International Inc Control Panel Overview Audit Trail Tab The Audit Trail tab sets properties for the Audit Trail window Audit Trail View Messages All records F Colo code buy sell lat 500 gt F Show til records C Show fil download records udtLog DB C Process and display INFO messages Exchanges V Operator actions V Show ERROR messages Number of days to save 3 M Show ALERT messages
469. wheel 1 Set the quantity change property 2 Click in the Order Quantity box 3 Move the mouse wheel to increase or decrease the order quantity You successfully changed order quantity using the mouse wheel 254 X_TRADER User Manual Trading Technologies International Inc MD Trader Overview Changing Working Orders You can drag and drop working orders from one location to another in MD Trader gt To drag and drop a working order 1 Right click and continue holding down any price and working cell information in the Working Quantity column Warning Be very careful A right click and release deletes the order 2 Drag and drop the price quantity to the cell where you want to place the order and release the but ton You successfully dragged and dropped a working order Deleting Orders Follow these procedures to delete your orders in MD Trader e Deleting all your orders e Deleting a single order e Deleting all bids or all offers e Deleting orders using the working quantity column gt To delete all your orders If you have the Delete all when LTQ column clicked property enabled left or right click on any grid cell in the Last Traded Quantity column to delete all of your working bids and offers or Click the Delete All button You successfully deleted all your orders P To delete a single order To delete a single order click its cell in the Working Quantity column You successfully
470. when you enable Market Depth IndBidQty The best indicative bid quantity Note Market Markers can provide indicative quotes when quoting certain products These indicative quotes are displayed in these fields These are not tradable quotes but an estimation of the market X_TRADER User Manual 187 Trading Technologies International Inc Proprietary and Confidential Information Chapter 6 IndAskPric AskPre Avg AskQty Accum WrkSells FFNetPos 188 The best indicative ask quantity The best indicative bid price The best indicative ask price The average ask price Use only when you enable Market Depth The accumulated ask quantity Use only when you enable Market Depth The best market ask price The Threshold bid price as established by the exchange Exchanges set a trading range for the day based upon the previous session s settlement price The exchange halts trading of the product when one of these limits is reached A frozen market requires manual release by the exchange The total quantity working at the ask Note The Eurex exchange displays only four 4 digits in inside market Therefore the maximum Bid Ask Quantity is 9999 This is a limitation of the Eurex API for UserDevices and MISSes If the inside market is greater than 9999 and you wish to view that data open Market Depth feature in the Market Grid The Group ID s total number of working sell contracts Group ID MemberIDGroupID
471. window it changes to include a plus sign 10 Release the mouse button You successfully populated a window using drag and drop from Market Explorer gt To populate a window using drag and drop from the Market Grid 1 Ifthe window you want to populate with a contract is not open use the Control Panel to open the window 2 From an open Market Grid click the product and hold the mouse button 3 Continue holding the mouse button and drag the cursor to the open window When the cursor leaves the window it changes to a circle with a diagonal line through it When the cursor enters a window it changes to include a plus sign 4 Release the mouse button You successfully populated a window using drag and drop from the Market Grid X_TRADER User Manual 47 Trading Technologies International Inc Proprietary and Confidential Information Chapter 2 Using the TT Minimizer The TT Minimizer appears as a tray icon i in the TT Minimizer lower right commer of your screen when you first log on to a X TRADER Minimize All It keeps a running list of every X_ TRADER screen you open during your session As screens are closed they are X_TRADER removed from the TT Minimizer MarketExptorer e Tip The size and position of the TT Minimizer can CME A GE SEP06 be changed and saved with your workspace CME A GE 1 Follow these procedures to use the TT Minimizer AuditTrail1 e Minimizing or disp
472. x below the column heading turns red and displays the filter you selected If you selected multiple filter variables a row of asterisks displays You successfully set a column filter 50 X_TRADER User Manual Trading Technologies International Inc Common Administrative Tasks Clearing a Column Filter Ca TT_Fill 1 Filters On aaj gt Ed 10 43 43 99 eCBOT 10 43 44 68 eCBOT QREA q 0 0 v gt To clear a column filter 1 Click the red column box A list of all currently referenced variables for the selected column displays 2 Select one or more of the variables to remove the filters 3 Click Clear followed by OK to remove the filter The filters box will change from red to gray You successfully cleared a column filter Clearing All Filters L lWarning Use of the Clear All Filters context options clears only the filters from the particular window in which you enable it If you enable AutoFilters or individual column filters in other windows they remain in effect gt To clear all filters Find Control Panel 1 Right click any grid cell to access the context menu serene i i Note If Click Trading is enabled do not click in the Bid Ask price Gran FKS columns Show Fast Fills C v Scrolling 2 Click Clear All Filters Auto Fiters Clear Filter You successfully cleared all filters ces sirte Copy Paste Export Al Rows Export Selected Rows Formatting Hide Select Columns
473. x with information e Open the Add Manual Fill dialog box via the Position pane to have all fields appear blank From the Exchange field click the exchange From the Product field click the product From the Product Type field click the product type From the Expiration field click the contract expiration In the Action field click Buy or Sell In the Quantity field type the appropriate value In the Price field type the appropriate value O oO L Oy Du p After you complete all mandatory fields Add Fill enables 10 In the Account field type any applicable account information optional 11 Ifyou want to see the formatted fill before you add it click the Confirm checkbox 12 Click the Add Fill button The manual fill is added to the Fill window If you clicked the Confirm checkbox you must confirm the manual fill 13 Click OK to exit You successfully added a manual fill to the Fills pane X_TRADER User Manual 361 Trading Technologies International Inc Proprietary and Confidential Information Chapter 12 Deleting a Manual Fill The only way to remove a manual fill is to delete it They persist even in case of an emergency or automatic shutdown when you lose connectivity to X TRADER gt To delete a manual fill from the Fills pane 1 From the Control Panel click the Window menu and choose Fill Window Or From the Control Panel click the icon 2 From the Fills pane click to select t
474. xpiration strike row on the bid or ask side of the screen If you click the BidQty or AskQty cells the Quantity and Price fields display the current quantity and price information The contract information appears in the Order Summary field or If you click the BidPre or AskPre or LastPre cells the Price field displays the current price but the Quantity field remains zero 0 The contract information appears in the Order Summary field Modify order information if necessary Click the Order Restriction menu and select Stop The Stop Price field appears To toggle the order type click the Limit button The Order Type button toggles between Limit and Mkt when clicked 6 To seta stop price in the Stop Price field use the arrows or type the stop price T Click Buy or Sell You successfully placed a Stop order 304 X_TRADER User Manual Trading Technologies International Inc Order Types Trailing Stops Volatility A Trailing Stop TStop order sets the Stop Price a fixed distance from the current market price and moves dynamically Trailing Stops can be limit or market orders Note e Trailing Stop orders cannot be entered via click trading nor the keyboard entry mode e Trailing Stop orders need X_TRADER to remain open to continue working They are removed from the market if you shutdown Trailing Stop Sell A trailing stop market for a sell order sets the stop price at a fixed amount
475. y Column Estimated Posi Indicates how many contracts are in front of your order at any given price tion In Queue EPIQ Refer to Viewing your Estimated Position in Queue on page 272 X_TRADER User Manual 247 Trading Technologies International Inc Proprietary and Confidential Information Chapter 7 248 Bid Indicator Indicates price settings when you enable the Bid indicator column property Column You may paste a value in the column from a spreadsheet The value of the spreadsheet appears in a white box Buy Column Displays current market bids implied bid outright prices implied bid spread prices and implieds from implieds bid values When you enable Keyboard Trading a colored cursor appears in the Buy column indicating the current price level for an order Refer to Enabling Keyboard Trading in MD Trader on page 282 Price Column Indicates market price and depth Arrows appear at the top and bottom of this column letting you page up or page down to view more prices To move the market view upwards click the up arrow F To move the market view downwards click the down arrow J A yellow line indicates the highest price of the day A red line indicates the lowest price of the day A darkened background indicates the prices fall between the high and low Note If no other price is available but you still want to scroll up and down use the arrow keys on your keyboard Sell Col
476. y pane to numbers that better suit your trading style The customized buttons save with your workspace gt To customize the quantity buttons 1 Press the ctr1 key and right click the button you want to customize Type the number you want the button to represent 2 3 Press Enter 4 Repeat Steps 1 3 for each button you want to customize You successfully customized the quantity buttons 182 X_TRADER User Manual Trading Technologies International Inc Market Window Overview Setting the Default Quantity In MD Trader setting the Default Quantity field is not required but once you send an initial order the Order Quantity field continually resets itself to the default quantity Alternatively you can clear the Default Quantity field and make the Order Quantity persistent a 2S sssiui the De aultQu Default Qty field populates Order Qty field Order Qty field persists You set the maximum quantity for trades with the Maximum order quantity property However the restrictions established by Guardian take precedence over this property gt To set the default quantity Click in the Default Quantity field under the CLR button Use the Delete key on the keyboard to clear the contents of the field 1 2 3 4 Enter a default quantity Or Leave the Default Quantity field blank to have the Order Quantity field persist Press 1 Enter to set the default quantity You
477. y the underlying product In both CTI fields type the appropriate clearing code Note Valid entries include 1 2 3 4 U for unassigned and A for allocation In both Posting Code fields only enter a value if the trade is for the Euronext exchange In both Account fields type the account numbers if applicable Click Send to submit the order You successfully submitted an against actual trade X_TRADER User Manual 391 Trading Technologies International Inc Proprietary and Confidential Information Chapter 15 Exchange For Swap Overview 392 Exchange for Swap is a strategy whereby a position in the underlying is traded for a futures position For example a trader with a long OTC swap position and a short Future position might wish to swap out against another trader with a short OTC swap position and a long Future position The trade records as two separate transactions provided the swap leg of the transaction has to do with a cleared swap If it is a bilateral uncleared OTC trade X_TRADER records only one transaction Use the Exchange For Swap window to submit an exchange for swap trade Exchange for Swap Trader Account Open Close ISIN Quantity Cash Pre Transaction Code HR Reference CTI Posting Code Account X_TRADER User Manual Trading Technologies International Inc Wholesale Trading Overview Exchange For Swap Window The fields in an Exchange For Swap window vary depending on the
478. y your OCO orders follow Strategies 11518 are designed to accomplish specific goals A Bracket 11517 applied to a current Long position is intended to exit the 2 11516 position at either a profit or a protective stop Hence 9 11515 both orders must be Sell orders 44 11514 e Bracket First OCO order is Limit Second med a 10 11512 11511 11510 11509 11508 OCO order Is Stop Limit or Stop Market Both orders must be on same side of market i e 2 Buys or 2 Sells e Breakout Both OCO orders can be Stop Limit or Stop Market Both orders must be on opposite sides of market i e 1 Buy and 1 Sell e Custom Both OCO orders can be Limit Stop Limit or Stop Market No restrictions other than check for invalid price levels by order type Order Book Additions To support OCOs Link Type and Link ID columns exist in the Order Book e Link Type shows all orders that are OCOs e Link ID gives the OCO a unique identifier So you can tell which two orders are linked together Note When you create an OCO on a contract that matches the native OCO parameters Limit and Stop Market X TRADER will send one order as the native OCO Native OCOs appear in the Order Book as a single order with the Limit price the Stop price and the OCO tag in the Rstr column Invalid OCO Price Levels When you position the cursor over an invalid price level a circle with a slash through it appears This occurrence depends on the order type you are using
479. ys on its own line Formatting Hide Partial Fill Pane Shows three options Top Pane ShowiHide Columns Middle Pane None Scrolling Causes the window to jump to a new entry Enabled by default Auto Filters Enables Auto Filters which filter the data by selecting a customer from the Customer List window Clear Filter Removes the filter from the selected cell Clear All Filters Displays all available data Copy Places selected data on a clipboard for pasting into another program e g Excel Export All Rows Collects all the data in a file whose name type and location you configure Export Selected Rows Collects the data in highlighted rows into a file whose name type and location you con figure Formatting Lets you customize fonts and borders Hide Hides the selected row s or column s Show Hide Columns Lets you select which columns to show X_TRADER User Manual 367 Trading Technologies International Inc Proprietary and Confidential Information Chapter 13 Showing or Hiding Partial Fills An option on the context menu lets you decide how you view partial fills in the Trade Book gt To show or hide partial fills 1 Right click the Trade Book window to display the context menu 2 Highlight Partial Fills 3 Click one of the following e Top Pane Puts partial fills in the top pane The Color tab on the Properties menu has a new Partial Fill Highlight property that distinguishes partial

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