Trading Autospreader Orders in Autotrader
Any spread from the Autospreader Manager window can be drag dropped or launched into an Autotrader window.
Once Autospreader synthetic contracts are in Autotrader, you can create profiles to manage Autospreader spread orders using all the Autotrader features.
Example: Assume you want to link spread bid/ask prices and quantities directly into Autotrader and generate a spread open position of long or short a total of 10 spreads.
From the Profile Setup Page:
Once the Direct Order Entry Profile is created you can select it from the Autotrader window and create links to the Scratch bid/ask price and quantity fields. Autotrader will submit Autospreader spread orders until the Open Position is long or short 10 spreads.
Autospreader orders affect Autotrader in the following ways:
- Don't Cross Market Setting
Don't Cross Market Setting
By default, the Autotrader profile setting Don't Cross Market is checked, meaning Autotrader will reject orders that cross the inside market. Since Autospreader synthetic orders working in Autotrader could cross the synthetic spread market as a part of a spread fill, you should uncheck the Autotrader profile setting Don't Cross Market for any Profile that is created for Autospreader orders.
In the Autotrader Grid, the Contract field displays the Autospreader spread name.
Account and Open Position Fields
Spreads default to <AS Config> in the Account field, indicating the customer accounts set up for each leg in the Autospreader Configuration window are in effect.
Note: If you choose an account other than <AS Config> you will override the customer accounts set for each leg in the Autospreader configuration. This is the same behavior for the Customer Account field in the Autospreader MD Trader.
The Open Position field tracks all Autospreader synthetic spread fills generated through Autotrader. This includes counting spread fills that are the result of quoting in more than one leg (i.e. double or triple fills). If the customer is changed, the Open Position field displays the open position of the current customer.
Quoting in more than one leg can result in double and triple spread fills which could exceed your maximum position setting.
All spread order updates are sent as Change orders. If you switch the Update Method to Cancel/Replace or Cancel/Replace for partial fill, the spread order is still sent as a Change.
Partial and Legged Quantities
Autotrader accounts for the partial and legged quantities of synthetic orders. This means Autotrader will not send any new spread orders until all components from the previously submitted spread, including working, pending and legged spread orders, are completely gone (filled or deleted).
Spreads that are in a partial Legged state can submit change orders when the Scratch price changes.
Spreads in a Pending state can submit change orders when the Scratch price changes.
Completely Legged State
Spreads that are in a completely Legged state (no Working or Pending quoting orders), do not submit a change order when the Scratch price has changed. Autotrader ignores the Scratch price change and does not attempt a change to the spread order.
The Net Position and Net Change fields are disabled for spreads. In addition, if the spread is not tradable for any reason, the entire row containing the spread order displays a maroon background.