Before upgrading to TT User Setup 7.17.10 or higher from 7.4.x, you need to be aware of the changes described in this section that will occur to the user interface and database as a result of the upgrade.
Product Limit Configuration Enhancements
In 7.17.10 or higher, account-based risk screens provide a more intuitive design for configuring product limits per account. Risk administrators can configure outrights and their related spread/strategy settings from a single window.
During an upgrade from 7.4.x to 7.17.10 or higher, existing account-based product limits are imported into the redesigned Product Limit window as follows:
- Existing intra-product spread limits are mapped to the applicable future or energy limit. For example, spread limits for a CME 6A futures spread would appear as a CME 6A futures product limit in the database and Product Limit window after an upgrade.
- Existing intra-product strategy limits are mapped to the applicable future or option limit. For example, strategy limits for a CME OZD options strategy would appear as a CME OZD options product limit in the database and Product Limit window after an upgrade.
- Stocks and bonds product limits will be unchanged.
- Limits for unsupported product types (Swap, Warrant, Forex, and NDF) are deleted.
- Spreads and strategies that do not appear in the Guardian product table are imported as an inter-product spread or inter-product strategy. For example, an OZI strategy (product type “strategy”) with an OZI option and ZI future.
For more details about how the TT User Setup 7.17.10 or higher upgrade migrates and displays your existing product limits to the enhanced account-based risk screens, refer to the Account-Based Risk Upgrade Feature Guide.
To copy existing Gateway Login product limits to account-based risk limits, refer to Copying MGT-based Product Limits to Account-Based Product Limits .
TT User Setup no longer requires accounts for TTORD Gateway Logins. Because TTORD traders were previously restricted to the accounts listed in the Accounts section of their gateway logins, these accounts are copied to the Account Permissions window and proxy traders are restricted to using those accounts. In addition, accounts used in Customer Defaults are copied to the Account Permissions window after an upgrade.For users with Direct Trader logins, the Account Permission window's Can only create, modify, and delete orders with the following accounts checkbox will be unchecked after an upgrade to 7.17.10 or higher.
Accounts assigned to TTORD traders
The following TTORD Gateway Login settings are populated on the Account Permissions window after an upgrade:
- Accounts that are assigned to TTORD Gateway Logins per user.
- If the user had only TTORD logins and did not share an order book with other TTORD traders, then the Can only create, modify, and delete orders with the following accounts checkbox is checked. This ensures that traders with TTORDs continue to be restricted to the same accounts as before the upgrade. The risk settings for the accounts are not changed.
- If all gateways for a TTORD or Direct Trader Gateway Login have Available to user unchecked, then both the Permitted for order routing and Permitted for ADL order routing checkboxes are unchecked. Otherwise, both Permitted for order routing and Permitted for ADL order routing are checked after an upgrade.
Note: Pre-7.17 TT Clients (e.g., X_TRADER® 7.12) still require accounts for TTORD Gateway Logins. If you have not upgraded your TT Clients to 7.17, you must add any new accounts to both the Gateway Login and Account Permissions windows. After upgrading your TT Clients to 7.17, you only need to maintain the accounts from the Account Permissions window.
Accounts in Customer Defaults
After an upgrade to 7.17.10 or higher, accounts assigned to TTORD Gateway Logins and configured in Customer Defaults are mapped to the Account Permissions window. This ensures that pre-trade risk set up for proxy traders is maintained after the upgrade (no additional configuration of account-based risk is needed).
The following settings appear in the Account Permissions window after an upgrade:
- Accounts that are assigned to a user’s Customer Defaults are listed.
- If the user had only TTORD Gateway Logins, then Customer Default accounts that do not match an account from the TTORD are listed and both the Permitted for order routing and Permitted for ADL order routing checkboxes are unchecked.
- If the user has any Direct Trader Gateway Logins (with or without TTORD Gateway Logins) then Customer Default accounts are listed and both the Permitted for order routing and Permitted for ADL order routing checkboxes are checked.
Algo SE Settings
Before completing an upgrade from 7.4.x to 7.17.10 or higher, each user must have the Algo Deployment Allowed and Algo Sharing Allowed settings configured the same way for each Algo SE server. If a user has different deployment or sharing settings for different Algo SE servers, the TT User Setup Utility (Upgrade database option) opens a window during the upgrade installation that allows you to correct the mixed settings before the upgrade is completed. Refer to Additional Upgrade Steps When Upgrading from TT User Setup 7.4.x to 7.17.x in the Preparing to Upgrade topics (TT User Setup System Administration).
On Behalf Of (OBO) Users
In previous versions, a direct trader could place orders on behalf of a TTORD trader by using the TTORD trader’s account number. In TT User Setup 7.17 and later, administrators must explicitly permission a user to place orders on behalf of another user by checking the On Behalf Of option on the Trade Permissions window. When that user places a trade in X_TRADER, the OBO Routing option displays in the Routing Configuration Dialog box. For information about placing an OBO order, refer to the X_TRADER Online Help.
After an upgrade to TT User Setup 7.17.10 or higher, you need to be aware of the following changes to user settings in TT User Setup 7.4.x:
- Users with Direct Trader logins configured with the Available to User checkbox checked will have the On Behalf Of checkbox checked on their Trade Permissions tab after an upgrade to 7.17.10 or higher.
- For Customer Defaults configured with an account that is assigned
to a TTORD and mapped to a user's Direct Trader logins:
- The OBO Account is populated with the account
- The OBO Username is populated with the users to which the account is mapped. If there are multiple user's then a single user is selected.
TT Gateway 7.17 Support
In addition, you must upgrade all TT Gateways in your environment to 7.17.3 or higher prior to upgrading to TT User Setup 7.17.10 or higher in order to support the following enhancements.
- The ability to share account numbers among different proxy (TTORD) traders.
- Account-based risk for wholesale trade entry in conjunction with X_TRADER 7.17.
- Pre-trade risk limits set up on a per contract basis.
Refer to the version 7.17.3 Release Notes for each TT Gateway to see a list of the functionality supported in each market.
After upgrading to TT User Setup 7.17.60 and higher from a version that supported two-factor authentication, users with the two-factor authentication option enabled will have this option set based on the system setting:
- If the system was set to none, the user will be set to “none”.
- If the system was set to Email, the user will be set to “Email”.
- If the system was set to SMS, the user setting will be set to “SMS”.