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TT User Setup

Setting Up an Account Default

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

This section provides a brief overview of account defaults, how to create an account default record, and how the TT FIX Adapter Server uses a FIX Adapter client user's account default key values to populate default values before submitting an order to the TT Gateway.

Note: You must restart FIX Adapter after you make any changes to an existing account default.

Account Default Overview

Account defaults are a set of rules that a TT FIX Adapter uses to provide a default account type, clearing account, or free form data when it is omitted from an order. The account defaults, created in TT user Setup, contain two types of data:

  • Keys that the TT FIX Adapter server uses to match incoming orders to particular rules.
  • Default values that TT FIX Adapter server adds to outgoing orders and fills when needed.

The following is a list of values available in the New Account Defaults or Edit Account Defaults window.

FieldDescriptionType
usernameThe name of the FIX Adapter client user. In the TT FIX Adapter Configuration Tool (FACT), username was known as RemoteCompId.Key
Account #The customer account number. Enter an asterisk (*) to match any account number.Key
Market

The name of the market. Enter an asterisk (*) to match any market.

Key
GatewayThe name of the gateway. Enter an asterisk (*) to match any gateway.Key
Product typeThe product type (e.g. futures, options, spreads, etc.), associated with a security. Enter an asterisk (*) to indicate match any product type.Key
Account typeThe type of account associated with the trader.

Default value

Clearing AccountThe member code for the clearing member; used for give-up trades only.Default value
FFT2/FFT3The freeform text fields; often used for annotations by traders or back offices.Default value

Creating an Account Default

The following procedure describes how to create an account default from the User window. You can also access the New Account Default window by selecting FIX Adapter Account Defaults from the User Admin menu.

To create an account default...

  1. From the User Admin menu, select Users.

    The Users window appears.

  2. Double-click the row of an existing user.

    The Edit User window appears.

  3. Click the FIX Adapter tab and then click the Account Defaults tab.
  4. On the Account Defaults tab, click New.

    The New Account Default window appears.

  5. Enter data in the Account #, Market, Gateway, and Product type "key" fields as needed.

    The image below shows a New Account Default window with the "key" fields completed.

    Note: You can type an account number directly in the Account # field, or you can click the ... button, select an account from the Select Account window, and then click Select.

  6. Click Save.

    The new account default appears in the Edit User window.

  7. On the Edit User window, click Save.

You have successfully set up an account default.

How FIX Adapter Servers Match an Account Default

TT FIX Adapter Server uses a FIX Adapter client user's account default key values to match incoming orders received from the FIX client application prior to submitting the orders to the TT Gateway. When TT FIX Adapter Server receives an order message from a FIX Adapter Client user, it starts the process of matching the order to the “key” values in the set of account defaults. If it finds a match, TT FIX Adapter Server inserts any specified default values into the order before routing it to the specified TT Gateway.

If the Restrict user from overriding Account Default option is checked, all the "key" and default values are taken into consideration when matching an order.

You can create more than one account default with the same "key" values, and TT FIX Adapter server uses the match with the highest priority. To define the order in which TT FIX Adapter server prioritizes account defaults, follow the procedure below.

Example: Account Defaults Order Matching

Assume an administrator configures two FIX Adapter Client users with the same set of account defaults, but in a different order. If each FIX Adapter client sends a TT FIX Adapter server an order that contains a market of CME and a product type of NRG, the clients will receive different results as follows.

TT user Setup includes the following account default entries for FIX Adapter Client user ABC:

PriorityAccountMarketProd TypeAcct TypeClearing AcctFFT2FFT3
1*CMENRGG1999  
2***A1   

For FIX Adapter Client user XYZ, TT user Setup includes the same account defaults, but in reverse order, as shown:

PriorityAccountMarketProd TypeAcct TypeClearing AcctFFT2FFT3
1***A1   
2*CMENRGG1999  

Result:

When TT FIX Adapter Server receives the message from FIX Adapter Client user ABC, it finds a match in the first account defaults listed, so it routes the order to the TT Gateway with Account Type = “G1” and Give-Up = “999”. When TT FIX Adapter Server receives the same message from FIX Adapter client user XYZ, it matches the first row. Even though the second account defaults entry represents a more precise match, TT FIX Adapter server stops looking after it finds the first match. Consequently, when TT FIX Adapter server receives this message, it routes it to the TT Gateway with Account Type = “A1”.

Note: For more account default order matching and routing examples, refer to the Understanding Account Defaults section of the TT FIX Adapter Reference Manual.