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Hedge Rule Builder Overview

The Hedge Manager window includes Hedge Rule Builder, which helps you create simple or complex rules using a drag-and-drop interface. Hedge Rule Builder provides a collection of building blocks that helps you specify actions to take on a hedge order. The following Hedge Rule Builder window shows a formula that pays up one tick to try to fill a hedge order if it has been in the market for more than five seconds.

Hedge Rule Builder window

Hedge Rule Builder provides additional functionality and flexibility you can use to:

  • Assemble basic or complex rules using an intuitive drag-and-drop approach.
  • Create more detailed and specific formulas that can react to multiple triggers using prices and quantities.
  • Create a library of rules that you can re-use with the same or different spreads, so you can create a formula once and apply to any spread.

For example, you can create a rule that triggers after a hedge order has rested in the market for five seconds (first trigger), which then determines how far away the leg is from the inside market (second trigger). Based on the condition, the rule either uses payup ticks (first action) or crosses the inside market (second action).

Hedge Rule Builder window

Follow these procedures to use the Hedge Rule Builder: