Try TT Now

TT User Setup

Configuring Wholesale Order Overrides

You are viewing TT User Setup Version 7.17 and higher. For earlier versions, click here

When creating risk limits for an account, you can apply the risk limits to all wholesale orders placed using that account (e.g., OTC orders on Eurex). However, you can also configure the account to override these wholesale order limits. The procedure in this section shows how to configure an account to override product and intra-product spread/strategy limits for wholesale orders.

Your wholesale order overrides can be set up or changed per account or Account Group; if an account belongs to an Account Group, only the group settings are used. Wholesale order overrides for accounts and Account Groups requires TT Gateways 7.17.10 and later.

Note: Wholesale Order overrides can be applied to all (*) or individual products, but cannot be applied to individual contracts for a product.

The following procedure describes configuring wholesale order overrides from the Account Group window, but the same procedure applies when using the Accounts window.

To configure wholesale order overrides for an Account Group:

  1. From the User Admin window, select Account Groups.
  2. From the Account Groups window, select an Account Group and click Edit.

    This opens the Edit Account group window.

    If you have assigned accounts to an Account Group, you can also edit that group by selecting any assigned account in the Accounts window and clicking Edit Account Group.

  3. In the Product Limits section of the Account Group window, select a product limit that is configured for a specific product (not *) and click Edit.

    The Edit Product Limit window appears.

  4. To override the Maximum order size and Price reasonability settings for the product or intra-product spread/strategy, click the Wholesale Order Overrides tab.

  5. Check the Override limits for wholesale orders checkbox. This exposes the Product and Intra-Product Spread/Strategy override settings.

    Note: When Override limits for wholesale orders is checked on this tab, wholesale order limits for the product are overridden even if Apply limits to wholesale orders is checked on the Account or Account Group window.

  6. Select the following wholesale order override settings as needed:

    • Outrights:
      • Maximum order size: Specifies a limit on the maximum individual order size that can be entered for the contract. To apply a maximum order size, check the Maximum order size option and enter a value. When checked, the default value is “0”, which disables wholesale orders for the product.

        Note: If you leave this setting unchecked when adding or editing a contract level override, the maximum order size for the contract is “Unlimited”.

      • Price reasonability: Determines how far from the market price a user may enter an order (in ticks). Contracts always use the product-level “Away from Market” setting to determine if the price reasonability settings is enforced for all orders or only for buy orders above the limit and sell orders below the market.

        Note: If you leave this setting unchecked when adding or editing a contract level override, the number of ticks away from the market price for the contract is “Unlimited”.

    • Intra-Product Spread/Strategy:
      • Maximum order size: Specifies a limit on the maximum individual order size that can be entered for the spread or strategy. To apply a maximum order size, check the Maximum order size option and enter a value. When checked, the default value is “0”, which disables wholesale orders for the product.

        Note: If you leave this setting unchecked, the maximum order size is “Unlimited”.

      • Price reasonability: Determines how far from the market price a user may enter an order (in ticks). Contracts always use the product-level “Away from Market” setting to determine if the price reasonability settings is enforced for all orders or only for buy orders above the limit and sell orders below the market.

        Note: If you leave this setting unchecked, the number of ticks away from the market price for the spread/strategy is “Unlimited”.

  7. Click Save.