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Configuring Give Up Orders / Account Codes

Overview

OSE Gateways support Give Up/mutual offset allocation of orders. The exchange uses account types/codes for designating trades as submitted by house, client, market maker, etc., and for designating Give Up orders. For normal trading, traders are required to specify an account code in the Acct Type field in X_TRADER. Account types are configurable in hostinfo.cfg on the OSE Gateway. For example, the default account code mapping is:

# OSE account codes

# C Client/Agency

# H House/Principal

[AccountCodeMapping_DefaultMapping]

A1=C

A1=C

A2=C

A3=C

P1=H

P2=H

P3=H

G1=C

G2=H

Multi-Firm Configuration

Customers wishing to submit Give Up orders must perform the following actions:

  • Select Account type as either G1 or G2 in the X_TRADER®Market Grid window.
  • Specify the Customer Identity (e.g., S999, C999) in the FFT3 field

    Customers can also create an X_TRADER® Customer Defaults profile with the Account Type=G2, Give Up, and FFT3. If the Give Up and FFT3 fields are not specified correctly, the OSE Gateway will reject the Give Up order with appropriate error messages.

  • Specify the Carrying Participant Code (e.g., 12400) in the Give Up field.

Give Up Order Processing

OSE Gateway supports placing Give Up orders. When placing a Give Up order for a “Client” account, G1 should be used as the Account type. When placing a Give Up order for a “House” account, G2 should be used as the Account type.

Customers should populate the “Give Up” field in X_TRADER® with the Carrying Participant Code (five-digit code set by the Securities Code Committee - e.g., 12400).

The FFT3 field in X_TRADER® should be set with the Customer Identification Number.

The Order Server shall reject the order for which Account Type=G1/G2 if any of the following fields are blank:

  • Give Up
  • FFT3
Note

For a Give Up order, the Order Server will always send “OX” in the GIVE_UP_MEMBER/Name, give_up_member OM API field.