Configuring Give Up Orders / Account Codes
TOCOM does not utilize account types/codes for designating trades as submitted by house, client, market maker, etc. Therefore, for normal trading, traders are not required to specify an account code in the Acct Type field in X_TRADER.
TOCOM does support give-up/mutual offset allocation of orders. To submit give-up orders, traders must use the G2 account code and perform the additional actions listed in the Multi-Firm Configuration section below.
Customers wishing to submit Give-up orders must perform the following actions:
- Select Account type as G2 in the X_TRADER®Market Grid window.
- Enter the Country Name (i.e., TC) in the Clearing Member Code field.
- Specify the Customer Identity (i.e., participant code
of the counterparty) in the FFT2 field.
Customers can also create an X_TRADER® Customer Defaults profile with the Account Type=G2, Give Up=TC and FFT2=ex_customers_X, participant code. If the Give Up and FFT2 fields are not specified correctly, then the TOCOM Gateway will reject the Give Up order with appropriate error messages.